Introduction: The Tax Residency Certificate / Tax Domicile Certificate is an official document issued by Federal Tax Authority confirming that an individual or corporate entity resides in the UAE. It…
Don’t miss your ESR filing deadline!
TAX CERTIFICATE ISSUANCE BY FTA IN UAE
In a latest announcement by The Federal Tax Authority (FTA) in line with the Cabinet Decision No. 65 of 2020 on Fees for Services provided by the Federal Tax Authority…
Economic Substance Regulations
UAE has implemented Economic Substance Regulations (“ESR”) for all Free zone and onshore companies in UAE to ensure that UAE entities that undertake certain activities are not used to extract…
Economic Substance Report template and Economic Substance Notification template
As part of the UAE’s commitment as a member of the OECD Inclusive Framework, and in response to an assessment of the UAE’s tax framework by the European Union Code…
How penalties are calculated on voluntary disclosures by UAE businesses on VAT or excise tax
The Federal Supreme Court has announced the method of calculating late payment penalties on voluntary disclosure.The judgment is significant because the effective date of penalty computation has been confirmed to…
VAT-free special offers
VAT registered businesses should not advertise taxable goods or services as free of VAT or sell such goods or services without accounting for 5% VAT, except where the supply qualifies…
UAE ECONOMIC SUBSTANCE REGULATIONS – New updating
The UAE Cabinet of Ministers has issued Ministerial Decision No. 100 of 2020 with updated guidance on the UAE Economic Substance Regulations (ESR) regime. The Ministerial Decision also included an…
DMCC Companies audit – deadline to submit the Audit report
DMCC Companies audit – reminder on deadline to submit the Audited Financial Statements (AFS)/ audit report for the year ended 31 December 2019 by all the companies in DMCC DMCC…
Update on Economic Substance Regulation (UAE ESR)
Update on Economic Substance Regulation (UAE ESR) from the Ministry of Finance (MoF) on Economic Substance Test. MoF issues Ministerial decision No. 100 for the year 2020 on the Issuance…
FTA VAT Guidance on E-Commerce
FTA has issued guidance about the VAT treatment of supplies of goods and services through electronic means, such as over the internet or a similar electronic network. This Guide…
Mindful communication for remote auditing
In this new age and time of the “new normal,” auditing too is taking a turn towards working remotely. Though the physical presence of the auditor or the auditee is…