UAE, Russia hold final round of negotiations for DTA
The United Arab Emirates (UAE), represented by the Ministry of Finance, has successfully concluded the final round of negotiations for the Double Taxation Avoidance Agreement (DTA) on income and capital with the Russian Federation. This
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UAE: MoF launches public consultation on e-Invoicing data dictionary
The UAE Ministry of Finance (MoF) has launched a public consultation on the data dictionary for electronic invoicing (e-invoicing). The consultation period will remain open until 27 February 2025. It is a structured form of invoice data that
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Sri Lanka, UAE finalise investment protection agreement
Sri Lanka and UAE have finalised an agreement on reciprocal promotion and protection of investments between the two countries. This announcement was made by the Ministry of Foreign Affairs, Foreign Employment and Tourism on 3 February 2024. The
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UAE: Cabinet approves income tax treaty with Qatar
The Cabinet of Ministers of the United Arab Emirates (UAE) has approved the income tax treaty with Qatar On 3 February 2025. Earlier, the Qatar News Agency, in a press release, said that Qatar and the UAE signed an income tax treaty on
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UAE: FTA offers penalty exemption for tax record updates by 31 March 2025
The UAE Federal Tax Authority has issued a notice on 4 February 2025 encouraging taxpayers to update their records by 31 March 2025, allowing them to benefit from a penalty exemption during the grace period. The Federal Tax Authority (FTA) has
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UAE: Cabinet approves first income tax treaty with Kuwait
UAE’s Cabinet of Ministers have approved the income tax treaty with Kuwait. The treaty was signed on 11 February 2024. It is the first income tax treaty between the two countries. The agreement seeks to prevent double taxation on
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UAE: FTA reminds Natural Persons to register for corporate tax by March 2025
The UAE’s Federal Tax Authority (FTA), in a release on 28 January 2025, reminded all natural persons who are subject to Corporate Tax to submit their Tax Registration applications for Corporate Tax no later than 31 March 2025 to avoid
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UAE clarifies VAT on crypto mining
The UAE Federal Tax Authority issued VAT Public Clarification - VATP039, providing clarification on the treatment of cryptocurrency mining on 13 January 2025. In a case of proof of work, a person can mine crypto currency for his own account, or
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UAE updates regulation of tax groups under the Corporate Tax Law
The UAE Ministry of Finance has released Ministerial Decision No. 301 of 2024 regarding the oversight of tax groups under the Corporate Tax Law on 9 December 2024. The decision outlines several important areas, such as ownership requirements and
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UAE: Cabinet approves tax treaty with Bahrain
The Cabinet of Ministers of the United Arab Emirates approved for ratification the income tax treaty with Bahrain on 2 January 2025. Earlier, the Bahrain Council of Representatives approved the ratification of the income tax treaty with the
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UAE updates participation exemption rules
The UAE Ministry of Finance has announced Ministerial Decision No. 302 of 2024 on 10 December 2024, which replaces Decision No. 116 of 2023, revising the regulations concerning the participation exemption as outlined in the Corporate Tax Law. The
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UAE: Dubai to reintroduce 30% alcohol sales tax from January 2025
Dubai is reportedly planning to reintroduce a 30% alcohol sales tax effective 1 January 2025, reversing a policy that suspended the tax in 2023 to boost tourism. The announcement, communicated by major alcohol distributors MMI and African+
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UAE: Dubai publishes guidance for foreign bank tax
Dubai has released Administrative Decree No. 107 of 2024, detailing the application of a 20% annual tax on foreign banks' taxable income. The tax applies to all foreign banks operating in Dubai, including those in special development and free
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UAE to introduce Pillar Two minimum tax rules, tax incentives from January 2025
The UAE Ministry of Finance has announced that it has updated certain provisions of Federal Decree-Law No. 47 of 2022 on the Taxation of Corporations and Businesses on 9 December 2024. These amendments include introduction of a Domestic Minimum
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Bahrain: Council of Representatives approve tax treaty with UAE
The Bahrain Council of Representatives approved the ratification of the income tax treaty with the United Arab Emirates (UAE) on 3 December 2024. Bahrain's ratification of the two agreements on income taxes and the prevention of tax evasion and
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UAE: Corporate tax registration deadline for juridical persons with licences issued in December set for before end of 2024
The UAE Federal Tax Authority (FTA) has announced that all Resident Juridical Persons with licenses issued in December, regardless of the year of issuance, must submit their Corporate Tax registration applications by 31 December 2024. In a press
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UAE: Corporate tax returns, payable settlements due by end of December 2024
The Federal Tax Authority (FTA) called on businesses subject to Corporate Tax to file their returns and pay their dues for their respective tax periods within the stipulated legal timeframes. As part of its commitment to supporting and
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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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