The Finance Ministry (MoF) of United Arab Emirates has published an official statement on 18th August 2015 regarding Value Added Tax (VAT) proposal and the possible Corporate Tax (CT) outline. The UAE has completed a treaty to implement VAT with the other GCC member states (Bahrain, Kuwait, Oman, Saudi Arabia and Qatar). The MoF also settles that it will make a declaration once the law has been confirmed, and that businesses will be given no less than 12 months from the announcement date to make for the implementation, and before being essential to fulfil their corporate tax compulsions.
Related Posts
Papua New Guinea pursues treaty with UAE
Richard Maru, Minister for International Trade and Investment, Papua New Guinea, and HE Dr. Thani bin Ahmed Al Zeyoudi, Foreign Trade of UAE. Photo: International Trade and Investment Ministry of Papua New Guinea In a recent update from Papua
Read MoreUAE: FTA issues corporate tax guide for investment funds and investment managers
The UAE Federal Tax Authority (FTA) issued the Corporate Tax Guide on Investment Funds and Investment Managers - CTGIFM1 on Monday, 6 May, 2024, in order to provide general guidance to help persons understand the UAE Corporate Tax treatment for
Read MoreUAE: FTA issues guide on registration of natural persons for corporate tax
The UAE Federal Tax Authority (FTA) released the Corporate Tax Guide on Registration of Natural Persons - CTGRNP1 on Monday, 6 May, 2024. It is designed to provide general guidance on the registration of natural persons in the UAE for Corporate Tax
Read MoreUAE: FTA issues guidance on business restructuring relief
On 17 April 2024, the UAE Federal Tax Authority (FTA) released the Corporate Tax Guide on Business Restructuring Relief - CTGBRR1. The relief permits certain restructuring transactions to occur in a tax-neutral manner without activating corporate
Read MoreUAE announces public consultation on R&D tax incentives
The UAE Ministry of Finance has opened a public consultation on the proposed introduction of tax incentives for research and development. The deadline for submitting comments is 14 May 2024. Objective of the consultation The UAE Government
Read MoreUAE: FTA issues guidance on qualifying group relief
On 3 April 2024, the UAE Federal Tax Authority (FTA) issued the Corporate Tax Guide on Qualifying Group Relief - CTGQGR1. This group relief permits the transfer of assets or liabilities between two taxable persons within the same qualifying group
Read More