A tax group allows multiple companies to combine their business operations under one bracket for taxation, simplifying their tax liability. This article explains the process of Tax Group’s formation, dissolution, and effects on Subsidiaries entering or exiting the group. Joining a Tax Group Subsidiaries may join a tax group where: Application procedure: The parent and … Read more
Recently some amendments were introduced vide Ministerial Decision No. (261) for UAE Partnerships including Family Foundations in line with Federal Law No. 47/2022. These changes create opportunities for businesses at the domestic and international levels, lessen compliance cost, and promote the UAE as an International Business Centre. Corporate Tax, UAE and Family Foundations Family Foundations … Read more
Putting A Reconsideration Request for Tax Assessment In The UAE Do you think you have been wrongly convicted by the authorities? Here is the solution. The Federal Tax Authority allows businesses and companies in the UAE to exercise their right to get a justification or ask for the legitimacy of the tax assessment review. As … Read more
Recently, the United Arab Emirates (UAE) announced that it will introduce a federal corporate tax on business profit from the beginning of June 1, 2023. All UAE businesses except those engaged in the extraction of natural resources will be subject to this new tax regime. For taxable income up to AED 375,000, the tax applied … Read more
Residential properties in the United Arab Emirates (UAE) have also been subject to Value Added Tax (VAT). Yet there are exceptions and deductions for homeowners and property investors. The aim of this article is to provide its readers a complete notion of the tax exemptions applied to the residential properties in the UAE. Tax exemptions … Read more
Public benefit entities are a type of non-profit organization (NPO) that are founded by private or governmental bodies and are exempted from corporate tax application. These organizations are formed for the purpose of charitable, scientific, cultural, religious, healthcare or other public benefit activities without aiming to make any profit from those activities. The primary purpose … Read more