UAE: FTA publishes corporate tax guide on foreign source of income
On 6 November 2023, the Federal Tax Authority (FTA) of the United Arab Emirates (UAE) released the Corporate Tax Guide on Taxation of Foreign Source Income - CTGFSI1. The guide includes: Definition and examples of foreign source income
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UAE: FTA publishes corporate tax guide on accounting standards
On 6 November 2023, the Federal Tax Authority (FTA) of the United Arab Emirates (UAE) released the Corporate Tax Guide on Accounting Standards and Interaction with Corporate Tax - CTGACS1. This guide provides general guidance on the interaction of
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UAE: MoF declares new corporate tax decisions for free zones
On 3 November 2023, The UAE Ministry of Finance (MoF) released Cabinet Decision No. 100 of 2023, in which it outlines guidance for determining qualifying income and Ministerial Decision No. 265 of 2023 on qualifying activities and excluded
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UAE: FTA releases transfer pricing guide
On 23 October 2023, the Federal Tax Authority (FTA) of the United Arab Emirates (UAE) released the Transfer Pricing Guide. This guide is designed to provide general guidance on the Transfer Pricing regime in the UAE with a view to making the
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UAE: FTA publishes corporate tax guide on exempt income
On 16 October 2023, the Federal Tax Authority (FTA) of the United Arab Emirates (UAE) released the Corporate Tax Guide on Exempt Income: Dividends and Participation Exemption. This guide is designed to provide general guidance to Taxable Persons,
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UAE: Tax authority calls to register for corporate tax
On 04 September 2023, the UAE Federal Tax Authority (FTA) renewed its invitation for Public Joint Stock Companies (PJSCs), PriVATe Shareholding Companies (PSCs), limited liabilities companies and priVATe companies resident in the UAE to register for
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UAE will not implement global minimum tax rule before 2025
On 13 September 2023, the UAE Ministry of Finance (MoF), in cooperation with the Organisation for Economic Co-operation and Development (OECD), hosted the Pillar Two Regional Forum, related to the Global Minimum Tax of Base Erosion and Profit
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UAE: MoF announces penalties for corporate tax violations
On 29 July 2023, the UAE Ministry of Finance (MoF) announced the issuance of Cabinet Decision No. (75) of 2023 regarding administrative penalties for violations related to the Federal Decree-Law No. 47 of 2022 on the Taxation of Corporations and
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UAE: MoF announces additional conditions for exemption of investment funds from tax
On 29 July 2023, the United Arab Emirates (UAE) Ministry of Finance (MoF) announced Cabinet Decision No. (81) of 2023, outlining additional conditions for Qualifying Investment Funds under the Federal Decree-Law No. (47) of 2022 on the Taxation of
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UAE: Ministry of Finance announces cabinet decision on new tax procedures law
On 29 July 2023, the United Arab Emirates (UAE) Ministry of Finance announced the issuance of Cabinet Decision No. (74) of 2023 on the Executive Regulation of Federal Decree-Law No. (28) of 2022 on Tax Procedures (New Tax Procedures Law). The
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UAE clarifies interest deduction rules
On 23 May 2023, the United Arab Emirates (UAE) Ministry of Finance (MoF) published Decision No. 126 of 2023 on the general rules for limiting the deduction of interest for corporate tax purposes. To determine the deductible interest from taxable
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UAE: MoF issues decision on TP documentation requirements
On 11 May 2023, the United Arab Emirates (UAE) Ministry of Finance (MoF) issued Ministerial Decision No. 97 of 2023 on the requirements for maintaining transfer pricing (TP) documentation. Federal Decree Law No (47) of 2023 on the Taxation of
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UAE: Ministry of Finance declares small business tax relief measures
On 06 April 2023, the Ministry of Finance has issued Ministerial Decision No. 73 of 2023 on Small Business Relief for the purposes of Federal Decree-Law No. 47 of 2022 on the Taxation of Corporations and Businesses (the “Corporate Tax
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UAE publishes new corporate tax law
On 9 December 2022, the UAE Ministry of Finance (MoF) released the Federal Decree-Law No. 47 of 2022 on business taxation to enact a new Corporate Tax Law in the UAE. The new law has been supplemented with Frequently Asked Questions (FAQs). The
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OECD: Peer Review Report on Dispute Resolution Mechanisms in the UAE
The second stage peer review report on the implementation of the Action 14 minimum standard (making dispute resolution mechanisms more effective) by the United Arab Emirates (UAE) was published by the OECD’s Inclusive Framework on 13 September
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UAE: Consultation on introduction of new corporate income tax regime
On 28 April 2022, the UAE Ministry of Finance has released a consultation paper providing details of, and seeking input, on the new federal corporate income tax (CIT) system to be implemented in the UAE, effective for financial years commencing on
See MoreWTO: Trade Review of UAE
From 22 to 24 March 2022 the World Trade Organisation (WTO) conducted a review of the trade policies and practices of the United Arab Emirates (UAE). As a basis for the review, a report was prepared by the WTO Secretariat. The UAE’s economy
See MoreUAE: Corporate Income Tax to be Introduced from 2023
On 31 January 2022 the United Arab Emirates (UAE) announced that it is introducing a 9% corporate tax with effect from June 2023. This tax will raise more government revenue as the UAE continues the process of economic diversification,
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