As per Federal Tax Authority (FTA) Decision No. 3 of 2024 issued on 26 February 2024 on the Timeline Specified for Registration of Taxable Persons for Corporate Tax purposes, the…
UAE Tax Group – Part 2: A Deep Dive into Tax Groups
The following article is part 2 which is a continuation to our earlier article published on Tax Groups on 5th February 2024. You can read the article here: Tax Group…
IAS 10 – Events after the Reporting Period
These are events, either favorable or unfavorable, that occur between the end of the reporting period, and the date on which the financial statements are authorized for issue. They may…
Simplifying UAE VAT: A Beginner’s Guide to Export-Import Rules
In this blog, we will learn about UAE VAT Law pertaining to export-import rules. Export rules for goods As per Article 45 of the Federal Decree-Law No. 8 of…
IFRS 18 – Presentation and disclosure in the Financial Statements
The new standard, which lays out the general requirements for presentation and disclosures in the financial statements and responds to investors’ demand for better information about companies’ financial performance. IFRS…
Requirements for Company Liquidation Reporting
To initiate the process of company liquidation and ensure a comprehensive liquidation report, the following prerequisites must be meticulously compiled: Updated Know Your Customer (KYC): – Thoroughly updated KYC…
Time Line for Corporate Tax Registration
Time Line for Corporate Tax Registration (With Effective From 1st march 2024) FTA has issued timeline for applying for registration of Corporate Tax for taxable persons failing which will…
Everything You Need to Know About Small Business Relief in the UAE
Small Business Relief is an optional relief available to small businesses in the UAE, who are resident persons for corporate tax purposes. It is provided in order to reduce the…
Is Your Business Ready for UAE VAT & Taxes?
Spectrum Auditing conducted webinar on “VAT Insights: FTA Audit, Recent Updates, Import-Export Rules, CT Registration challenges, and VAT Penalties Unveiled” on 16th February 2024. You can watch the webinar recording…
Corporate Tax – Taxation, POEM, PE
Spectrum Auditing conducted webinar on “Taxation for Individuals, Place of Effective Management (PoEM), Permanent Establishment (PE)” on 9th February 2024. You can watch the webinar recording video link in this…
Tax Residency Certificate (TRC)
A Tax Residency Certificate (TRC) is a certificate issued by the Federal Tax Authority in UAE to companies established in the UAE and to individuals residing in the UAE. This…
Tax Group & Other Relevant Provisions as per UAE Corporate Tax Law
The FTA has issued a new guidance on Tax Groups on January 08, 2024. What are Tax groups as per the Corporate tax law? As per the Federal Decree…