What Is a Tax Residency Certificate and How It Can Be Obtained in the UAE
Mostafa
Mostafa is a qualified Corporate Tax Consultant with over 5 years of experience gained in diverse intricate tax matters, he has high expertise in conducting tax negotiations and investigations with the Federal Tax Authority and other external Tax Bodies. He has vast experience in reviewing and drafting tax documents. Mostafa has also advised on a plethora of tax matters, he draws much attention to tax filing procedures and to offering professional investigations to underlining tax complexities.
The United Arab Emirates has recently enacted Ministerial Decision No. 247 of 2023, issued by the Minister of State for Financial Affairs on 16 October 2023. The decision specifies the criteria for obtaining a Tax Residency Certificate (TRC). A TRC is a document that confirms that a person is a resident of the UAE for … Continue Reading
State Sourced Income received by Non-Resident Persons from sources in the UAE as per Article 13 and 12(3)(b) of corporate tax UAE. Non-Resident Persons are individuals or entities that are not classified as Resident Persons for taxation purposes. How is State Sourced Income Classified? State Sourced Income can be classified into three main categories, depending … Continue Reading
A Qualifying Free Zone Person is a legal entity that meets specific requirements and is established in a free zone. As per the UAE corporate tax law, a Qualifying Free Zone Person (“QFZP”) is subject to a 0% corporate tax rate on qualifying income or qualifying activity and a 9% rate on non-qualifying income. What … Continue Reading
Latest UAE directives No.3/2024 and 10/2024 issued by the Finance Ministry made registration mandatory for companies with the specific guidelines having consequences 10,000 AED fine in case of failure to get registration in time. The Federal Tax Authority has introduced a decisive set of guidelines that mandate registration deadlines for corporate tax for both juridical … Continue Reading
New Corporate Tax Compliance in the UAE With the recent legislative changes, the government of the UAE indicates a new era of tax compliance and regulation. The government has demonstrated its commitment to refining the tax system and ensuring that businesses contribute their fair share to the nation’s development through the issuance of Cabinet Resolution … Continue Reading
Stockpiling refers to the practice of holding a large quantity of excise goods in the free trade area, without paying the tax and intending to sell them in the local market. This practice can affect the tax liability of the stockpiler and the tax system as a whole. If you are dealing with excise goods … Continue Reading