What are the Pros & Cons of Forming a UAE Corporate Tax group?
As corporate tax in the UAE has become effective, businesses that fall under its scope need to register for corporate tax and file an annual return. Forming a corporate tax…
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A Guide to Transfer Pricing Documentation Requirements in UAE
The UAE’s transfer pricing rules are intended to be aligned with the OECD internationally accepted transfer pricing standard as per the Explanatory Guide issued by the Ministry of Finance. The…
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UAE Corporate Tax: Do All Taxable Persons Need to Have Books of Accounts Audited?
The UAE corporate tax law states that the Minister of Finance may issue a decision explaining the types of taxable persons who need to prepare and maintain audited financial statements.…
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Top Reasons Why Financial Due Diligence is Essential for Buyouts
Financial due diligence is a crucial step in the process of buyouts and acquisitions. It involves a thorough examination and analysis of a target company’s financial records, statements, and other…
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DNFBPs must Strengthen AML Compliance in UAE as Fines Mount
Designated Non-Finance Businesses and Professions (DNFBP) need to take AML laws seriously and create a positive attitude among their staff when it comes to complying with Anti-Money Laundering and Combatting Financing…
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Corporate Tax Decisions: Determining a Non-Resident Person’s Nexus in UAE
The Ministry of Finance has released the Cabinet Decision No. 56 of 2023, clarifying the conditions for determining a Non-Resident Person’s Nexus in the UAE. The decision that took effect…
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VAT in UAE: How do Tax Agents help you Ensure Compliance?
Taxable persons hire tax agents in the UAE to ensure they are meeting all the regulatory requirements mandated by the Federal Tax Authority (FTA). As per Federal Law No. (7)…
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Why accurate Financial Records are Key to Startup Success?
Startups have become an integral part of our economy with their innovative and revolutionary ideas. However, startups have a long way to go when it comes to maintaining accurate financial…
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AML in UAE: Types of High-risk Customers Businesses may Encounter
Taking a risk-based approach to money laundering is critical to regulated businesses such as financial institutions, Virtual Assets Service Providers (VASPs), and Designated Non-Finance Businesses and Professions (DNFBPs). Such businesses…
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A Guide to UAE Corporate Tax Accounting Standards & Methods
Ever since the introduction of corporate tax in the UAE, the determination of taxable income has been a topic of interest among taxable persons. The UAE Corporate Tax Law states…
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