Picture this: You walk into a retail store, see something you like at what seems like a reasonable price, and when you get to checkout, the cashier tells you the price goes up 5% for ‘VAT’. If that has happened to you, you’re not alone. In this article, we explain the...
Taxes are an important part of running a business in the UAE. The most important taxes that companies have to deal with are Excise Tax and Value-Added Tax (also known as VAT). Both taxes are indirect taxes that are imposed by the government but each tax serves a...
In a significant legislative update, the UAE has introduced Federal Decree-Law No. (16) of 2024, which amends specific provisions of the Federal Decree-Law No. (8) of 2017 concerning Value-Added Tax (VAT). Signed into law by His Highness Sheikh Mohamed bin Zayed Al...
On September 25, 2024, the Federal Tax Authority (FTA) of the United Arab Emirates issued Decision No. 7 of 2024, which has significant implications for corporate entities operating within the region. This decision focuses on extending the deadline for tax returns and...
The Ministry of Finance in the UAE has officially published Federal Decree-Law No. 47 of 2022 on the Taxation of Corporations and Businesses, also known as the Corporate Tax Law (CT Law). This new legislation marks a significant development following the Ministry’s...
