UAE issues ruling on foreign partnerships, family foundations, unincorporated entities
The UAE Ministry of Finance has released Ministerial Decision No. 261 of 2024, addressing the regulations surrounding unincorporated partnerships, foreign partnerships, and family foundations. Unincorporated partnerships Under Article 3 of
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UAE: FTA publishes guide on private clarifications
The UAE Federal Tax Authority (FTA) has published a detailed guide on Private Clarifications (Private Clarifications - TPGPC1). The following federal taxes apply in the UAE: Excise Tax – introduced with effect from 1 October 2017 VAT
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UAE: FTA clarifies review process for disputing tax assessments, penalties
The UAE Federal Tax Authority (FTA) has issued Public Clarification TAXP008 on Tax Assessment Reviews, outlining an optional process for challenging tax assessments and administrative penalties, as introduced by Federal Decree-Law No. 28 of 2022, as
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UAE: FTA publishes new corporate tax guide
The UAE Federal Tax Authority (FTA) released a new Corporate Tax Guide on Tax Returns—CTGTXR1—on 12 November 2024, providing general guidance on filing and completing a return. This guide should be read by anyone required to file a tax return
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UAE offers grace period for updating tax registration information
The Federal Tax Authority (FTA) of UAE announced that a new Decision has been issued to support businesses in efficiently meeting their tax obligations on 6 November 2024, offering a grace period for tax registrants who have fallen behind on
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UAE urges Resident Juridical Persons to register for corporate tax before end of November
The Federal Tax Authority (FTA) has urged Resident Juridical Persons with Licences issued in October and November, irrespective of the year of issuance, to promptly submit their Corporate Tax registration application no later than 30 November
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UAE publishes guide on corporate tax for real estate investment
The UAE Federal Tax Authority has published a guide outlining corporate tax rules for individuals earning income from real estate investments on 24 October 2024. Federal Decree-Law No. 47 of 2022 on the Taxation of Corporations and Businesses and
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UAE to implement mandatory e-invoicing for B2B, B2G transactions
The UAE Ministry of Finance (MoF) has announced plans to implement a mandatory electronic invoicing (e-invoicing) system for business-to-business (B2B) and business-to-government (B2G) transactions. The implementation of this e-invoicing system
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UAE: Tax Authority releases guide on tax residence and residency certificates
The UAE Federal Tax Authority released a new guide on tax residence and tax residency certificates, titled Tax Procedures Guide on Tax Resident and Tax Residency Certificate - TPGTR1. Federal Decree-Law No. 47 of 2022 on the Taxation of
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UAE: MoF drops economic substance reporting requirements
The Ministry of Finance (MoF) has cancelled the economic substance reporting requirements for companies with financial years concluding after 31 December 2022. This update follows Cabinet Decision No. (98) of 2024, which revises certain aspects
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UAE extends corporate tax filing deadline
The UAE Federal Tax Authority (FTA) has extended the deadline for filing corporate tax returns and settling corporate tax obligations to 31 December 2024. The announcement was made in Public Clarification CTP004, clarifying the implications of FTA
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UAE: FTA urges Resident Juridical Persons with licences issued in August and September to register for corporate tax before end of October
The UAE Federal Tax Authority (FTA) has urged Resident Juridical Persons with licences issued in August and September to submit their Corporate Tax registration applications by 31 October 2024 to avoid administrative penalties. The announcement
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UAE amends executive regulations on VAT
The Ministry of Finance announced that the UAE Cabinet has approved Decision No. 100 of 2024, which amends certain provisions of the Executive Regulations of Federal Decree-Law No. 8 of 2017 on Value Added Tax (VAT) on 5 October 2024. These
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Japan, UAE initiates negotiations for CEPA
Japan’s Ministry of Foreign Affairs announced that it has launched negotiations with Japan for a comprehensive economic partnership agreement (CEPA) on 18 September 2024. “I hope that concluding an ambitious, balanced, and comprehensive EPA
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Australia, UAE end CEPA negotiations
Australia and the United Arab Emirates (UAE) have ended negotiations for a comprehensive economic partnership agreement (CEPA). Australia’s Department of Foreign Affairs and Trade made the announcement on 17 September 2024. On 13 December 2023,
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UAE urges juridical licensees to register for corporate tax by September 2024
The UAE Federal Tax Authority (FTA) has announced that entities licensed in July must submit their Corporate Tax registration applications by 30 September 2024 to avoid Administrative Penalties. In a press statement issued today, the FTA advised
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Ghana negotiates tax treaties with Hungary, Israel, UAE, Korea, Egypt
Ghana announced that it is negotiating to establish income tax treaties with Hungary, Israel, UAE, Korea, and Egypt. Daniel Nuer, Head of the Tax Policy Unit at Ghana's Ministry of Finance, revealed that the Ministry plans to implement
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UAE: FTA urges june-licensed juridical entities to register for corporate tax by August 2024
The UAE Federal Tax Authority (FTA) has issued a reminder for juridical persons licensed in June to submit their Corporate Tax registration applications by 31 August 2024. The Federal Tax Authority (FTA) has renewed its calls for Resident
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