Before a business is officially incorporated, there are certain expenditures incurred that are typically associated with the process of setting up a Business such as feasibility studies, registration fees, legal…
A Comprehensive Overview of Participation Exemption in UAE Corporate Taxation
To thoroughly understand the concept of participation exemption under UAE corporate tax regulations, it is essential to refer to the following key resources:- Ministerial Decision No. 116 of 2023: This…
Navigating Employment and Entertainment Expenses Under UAE Corporate Tax Law
The UAE Corporate Tax (“CT”) law outlines provisions for the deductibility of certain expenditures, specifying the degree to which they can be deducted from businesses’ taxable income. According to Article…
Unlocking UAE Corporate Tax: Expert Guide to Taxable Income & Participation Exemption
Spectrum Auditing conducted an exclusive webinar on “UAE Corporate Tax: Taxable Income and Participation Exemption” on Friday, 2 August 2024 from 3 pm to 4.30 pm. Dive deep into…
Understanding Free Zone Corporate Tax Rules
(FTA Guide released as on 20.05.2024) Introduction and Free Zone Tax Rules Free Zones are integral part of the UAE economy, fostering economic growth and transformation both in the UAE…
Non-Resident Persons – UAE Tax Regulations
Non-resident persons in the UAE may encounter several issues when it comes to compliance with corporate tax (CT) and transfer pricing (TP) regulations. Here are some typical challenges they may…
Demystifying the Corporate Tax Return: What You Need to Know
What is Corporate Tax Return? Corporate tax returns provide comprehensive information of an entity’s income, expenses, and other financial activities. Revenue earned by the entity reduced by the deductible expenses…
Taxation of Foreign Source Income
The Federal Tax Authority has issued a new guidance on Taxation of Foreign Source Income on November 16, 2023. A Resident person in the UAE or Non-resident person with…
UAE Corporate Tax: Are You Registered? Avoid Penalties – Deadline May 31st
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…
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…
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