Overview UAE Federal Tax Authority (FTA) has introduced Business visitor VAT refund to help foreign businesses / business visitors check if they are eligible to make a claim for refund…
VAT Public Clarification – Zero-rating of export of services
This Public Clarification provides a high-level clarification of the FTA’s view of the zero-rating conditions in Article 31(1)(a) of the Executive Regulation relating to the residency and location of the…
UAE Economic Substance Test (ESR Test)
In continuation to our earlier article published on ‘UAE Economic Substance Regulations (ESR) Report – The Contents of the ESR Report Form’, we described in brief in the UAE ESR…
ESR Report for Distribution and Service Center Business Relevant Activities
This blog is part of our series on UAE Economic Substance Regulations. You can read activities under Economic Substance Regulations to find relevant activity and its importance. Here, you will…
UAE Economic Substance Test (ESR Test) for Distribution and Service Center Business
What is Distribution and Service Center Business Activity? A “Distribution and Service Centre” Business refers to two distinct activities that are covered under one “Relevant Activity” heading. A Licensee is…
Business Risk Vs Audit Risk – Key differences and considerations
What is audit risk? Any risk that’s expressed by an auditor on the financial statements. This could be caused due to omission/manipulation in the financial statements and/or misstatements in the…
DMCC Free Zone – Dubai Multi Commodities Centre Free Zone
DMCC is one of the fastest growing Free Zone’s in the world. It was established in the year 2002 with headquarters in Dubai to facilitate DMCC Free Zone as a…
RAKEZ – Ras Al Khaimah Economic Zone
Ras Al Khaimah Economic Zone (RAKEZ) was established to oversee and consolidate the specialized zones and clients of both Ras Al Khaimah Free Trade Zone and RAK Investment Authority.RAKEZ is…
JAFZA – Jebel Ali Free Zone Authority
JAFZA or Jebel Ali Free Zone is the world’s largest free zone. JAFZAstarted its operations in the year 1985 and is home to more than 100 of the Fortune Global…
UAE Economic Substance Regulations (ESR) Report – the contents of the ESR report Form
UAE Economic Substance Regulations (ESR) Report – the contents of the ESR Report Form As many companies in UAE already submitted ESR Notification and most of them are conducting either…
ESR Notification Filling guidance issued by Ministry of Economy
The following is an extract of the guidance issued by Ministry of Economy to fill the ESR Notification Form for all the mainland companies in UAE. Instructions A. Licensee details…
UAE Financial Leasing Law update
A finance lease (also known as a capital lease or a sales lease) is a type of lease in which a finance company is typically the legal owner of the…