A Guide to the New UAE Law for Determining Tax Residency
The criteria for determining tax residency in the UAE is set to change with the issuance of the Cabinet Decision No. 85 of 2022. Even though issued on September 2nd…
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How Can You Identify Related Parties under UAE Corporate Tax?
The proposed UAE Corporate Tax will have transfer pricing rules which will ensure that the price of a transaction is not influenced by the relationship between the parties involved in…
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Why an MLRO Is Critical to Your AML Compliance Framework?
A Money Laundering Reporting Officer (MLRO), generally known as the AML compliance officer, is a vital element in a company’s framework for Anti-Money Laundering & Combating the Financing of Terrorism…
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A Guide to New Amendments to UAE VAT Decree Law
The UAE has introduced the Federal Decree-Law No.18 2022 amending some provisions of the Federal Decree-Law No. 8 2017 on Value Added Tax (the VAT Law). Although the amended law…
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AML in UAE: How to File a Dealers in Precious Metals and Stones Report?
The Dealers of Precious Metals and Stones (DPMS) are required to ensure AML compliance in the UAE by submitting the Dealers in Precious Metals and Stones Report (DPMSR). The DPMSR…
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What Are the Two Tests for UAE Corporate Tax Permanent Establishment?
The proposed UAE corporate tax regime will follow the Permanent Establishment (PE) concept to determine the taxability of persons. PE is a critical international tax concept that refers to a…
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A Comprehensive Guide to VAT Treatment of Charities in the UAE
Charities need to understand the impact of UAE VAT on them under two contexts: its application to the activities of all charities and the approach they should take while determining…
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UAE Corporate Tax Exemption: Requirements for Investment Funds
The UAE corporate tax regime is set to become effective from June 1st 2023. However, many investors are still unaware of the proposed corporate tax’s impact on their businesses. Lack…
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Why Bank Reconciliation Is Significant for Small Business Accounting?
Not reconciling bank is one of the bad habits small business owners must ditch to ensure business success. Regularly bank reconciliation is critical for your small business to detect errors,…
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A Guide to New Amendments to the UAE Excise Tax Decree Law
The UAE Excise Tax regime is governed by the Federal Decree-Law No. 7 of 2017 (“Excise Tax Decree-Law”). However, the Federal Decree-Law No. 19 of 2022 has come into effect…
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