Insights, News, and Expert Tips

Category: TAX

FTA issues decision Postponement of the Deadline to File a Tax Return and Settle the Corporate Tax Payable for certain Tax Periods

FTA Decision No. 7 of 2024 has been issued to postpone such deadlines, effective from 25 September 2024. The FTA has issued a Corporate Tax Public Clarification -CTP004 on Oct 10,2024

October 29, 2024

Category: Business Tips

Budget

A budget is an estimate prepared for a definite future period either in terms of financial or nonfinancial terms. Budget is prepared for any course of action or business or state or Nation, as a whole.

November 01, 2024

Category: VAT

Some advice after receiving VAT CERTIFICATE

After Receiving a VAT Certificate: 1. Invoice Details: Include your company’s full name and TRN (Tax Registration Number) on all invoices.

November 01, 2024

Category: TAX

Financial Year in the UAE

The United Arab Emirates (UAE) is a dynamic hub for business and finance, with a regulatory framework that supports its status as a global economic powerhouse. The financial year regime in the UAE is integral to this framework, influencing how businesses operate, report their financials, and comply with local laws.

November 01, 2024

Category: TAX

Corporate Tax Public Clarification First Tax Period of a juridical person

The FTA has issued a Corporate Tax Public Clarification CTP003 on the First Tax Period of a Juridical person on July 30, 2024. This Public Clarification is intended to clarify the First Tax Period under the Corporate Tax Law for the following categories of Taxable Persons:

December 01, 2024

Category: TAX

Tax Invoice

Since 2018, Value Added Tax (VAT) was introduced into the UAE's accounting system. All VAT registered companies are required to issue Tax invoices for the taxable sales.

December 01, 2024

Category: TAX

KEY TAXPAYER RIGHTS AND OBLIGATIONS ARE DESCRIBED IN THE UAE-FTA

To guarantee the openness of the tax systems in place in the nation, the federal tax administration of the United Arab Emirates has been working tirelessly. It has released a Taxpayers Charter lately with this goal in mind, giving taxpayers guidance and the necessary knowledge of the tax systems in place across the nation.

December 01, 2024

Category: TAX

FTA issues decision Postponement of the Deadline to File a Tax Return and Settle the Corporate Tax Payable for certain Tax Periods

FTA Decision No. 7 of 2024 has been issued to postpone such deadlines, effective from 25 September 2024. The FTA has issued a Corporate Tax Public Clarification -CTP004 on Oct 10,2024.

December 01, 2024

Category: TAX

Corporate Tax Guide on Determination of Taxable Income

On July 31, 2024, the Federal Tax Authority (FTA) issued Corporate Tax Guide | CTGDTI1 on the Determination of Taxable Income. This guide is designed to provide general guidance to Taxable Persons for determining their Taxable Income and calculating their Corporate Tax Payable under the Corporate Tax Law.

December 01, 2024