UAE Ministry of Finance has announced the introduction of corporate tax on business profits which will be effective from financial year starting from June 1, 2023. Here are the details…
UAE Corporate Tax – Income exempt, foreign person, free zones info
UAE Ministry of Finance has announced the introduction of corporate tax on business profits which will be effective from financial year starting from June 1, 2023. Here are the details…
UAE Corporate Tax – Scope and Rate
UAE Ministry of Finance has announced the introduction of corporate tax on business profits which will be effective from financial year starting from June 1, 2023. Here are the details…
Corporate tax on businesses in UAE
UAE Ministry of Finance has announced the introduction of corporate tax on business profits which will be effective from financial year starting from June 1, 2023. Here are the details…
Did you pay VAT amount to a wrong GIBAN or wrong VAT account number?
Have you faced a situation where you paid amount to a wrong GIBAN or wrong VAT account number? If you make the payments to wrong GIBAN you may follow…
Dubai World Trade Centre Free Zone (DWTC)
A Quick View on Dubai World Trade Centre (DWTC) Free Zone The Dubai World Trade Centre (DWTC) formerly known as Sheikh Rashid Tower, was established in the year 1979. The DWTC has been…
Dealers in Precious Metals and Stones (DPMS) Report
DPMS Report (DPMSR) for Dealers in Precious Metals and Stones (DPMS) on the goAML portal in UAE Introduction of DPMS Report (DPMSR) on goAML portal: On 2nd June 2021,…
Abu Dhabi Airport Free Zone
A Quick intro about Abu Dhabi Airport Free Zone Abu Dhabi Airports Free Zone (ADAFZ) is a wholly owned subsidiary of Abu Dhabi Airports. Abu Dhabi Airports Free Zone (ADAFZ)…
When and how to adjust VAT relating to bad debts in VAT returns
{You can find the previously published blog with the same title explained in detail, here at: https://www.spectrumaccounts.com/adjustment-on-account-of-bad-debt-relief/} When and how to adjust VAT relating to bad debts in VAT returns…
Can we claim VAT paid on mobile phones, mobile bills, airtime, data packages provided to employees in UAE?
Issue Many businesses enter into agreements with telecommunication service providers to make mobile phones (“Phones”), airtime (“Airtime”) (i.e. call minutes) and data packages (“Packages”), available to their employees to perform…
An Overview of Two Pillar Solution (Global Minimum Tax)
The Two-Pillar Solution is comprised of Pillar One and Pillar Two. Pillar One aims to ensure a fairer distribution of profits and taxing rights among countries with respect to…
What is the impact of Global Minimum Tax (GMT) on companies in UAE?
Below, we shall discuss a plethora of questions relating to Global Minimum Tax and its impact on UAE Question) How will the Two-Pillar Solution under Global Minimum Tax make…