Country by Country Reporting (CbCR) is a mechanism that seeks to improve clarity, accountability, and justification in the global tax system. In this article, we will discuss the implementation of Country by Country Reporting, with its purpose and the essential elements involved. Purpose of Country by Country Reporting Country by Country Reporting seeks to deliver … Continue Reading
This article seeks to explore whether government entities and government-controlled entities are exempt from corporate tax UAE as per the latest Corporate Tax Explanatory Guide. Thus, taxable persons are advised to seek the services of Tax Consultants in Dubai to seamlessly determine their taxability and to stay compliant. What are Government Entities under Corporate Tax … Continue Reading
Ministerial Decision No. 26 of 2023 stipulates the conditions and criteria for conducting electronic commerce business for the purpose of keeping delivery records. The requirement is applicable to taxable persons whose e-commerce taxable supplies are more than 100 million AED in a financial period of 12 months (calendar year). Therefore, it is advisable for e-commerce … Continue Reading
The UAE Ministry of Finance passed Ministerial Decision No.43 on 10 March 2023, in relation to exemptions from corporate tax registration. The decision furnishes detailed conditions to qualify for corporate tax registration exemptions. Therefore, taxable persons are advised to consult UAE Tax Consults to establish their exemption status as per the corporate tax law and … Continue Reading
Under the UAE’s comprehensive corporate tax regime, businesses can manage their taxes in a streamlined manner. By forming a corporate tax group, companies or entities can share profits, losses, and assets within the same corporation as well as operate under stand-alone concepts with their own distinct operations. To make use of this scheme effectively and … Continue Reading