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In May 2024, the UAE Federal Tax Authority (FTA) published an updated guide for companies conducting business in UAE free zones.   The new document, numbering a comprehensive 134 pages, is designed to provide enhanced guidance on the application of UAE Corporate Tax Law to Free Zones and Free Zone Persons. It provides an overview of the conditions required to be met for a Free Zone Person to be a Qualifying Free Zone Person (“QZFP”) and benefit from the 0% Corporate Tax rate, as well as activities that are considered Qualifying Activities and Excluded Activities for a QFZP. Other topics covered include calculating corporate tax for a Free Zone person, maintaining adequate substance, as well as treatment of immovable and intellectual property. We encourage all our clients with presence and interests in UAE free zones, to study this document in detail. Our dedicated Corporate Tax & Compliance teams are on hand to assist you, and underline key implications for your unique business and circumstances. For more information, please visit:  https://lnkd.in/e_S_qgR3 #UAE #FreeZones #CT #CorporateTax #FTA #FederalTaxAuthority #QualifyingActivities #QFZP #Exemption #EconomicSubstance #SME

I recently shared a short post on some of the favourable tax rates in Dubai 🇦🇪 And here is a detailed tax guide issued by the Federal Tax Authority directly. For all your corporate needs, get in touch.

The FTA has released a detailed "Free Zone Persons Corporate Tax Guide," providing essential insights into the application of the Corporate Tax Law to Free Zone Persons in the UAE 🇦🇪, including: 🔹The Conditions to be a Qualifying Free Zone Person (QFZP) 🔸What is classified as Qualifying Income and Qualifying Activities 🔹Maintaining adequate substance in a Free Zone 🔸List of Excluded Activities 🔹Compliance requirements 🔸Calculation of Corporate Tax For further assistance and guidance on corporate tax, feel free to contact TAG today. We're here to help! 📧 info@tagconsultancy.ae 💻 www.tagconsultancy.ae 📞 +971 58 518 4291 Or on any of our social platforms! 📍Dubai, UAE. #CorporateTax #FreeZone #TaxGuide #FTAGuide #TaxLaw #QualifyingIncome #TaxRegime #UAEBusiness #FinancialGuidance #BusinessSupport #TaxConsulting

"Which condition are necessary for the consideration of a person as a Qualifying Free zone perosn in UAE Corporate tax?" In ordered to considered as a Qualifying free zone perosn, a free zone person must meet the following requirements:- 1) Deriving Qualifying Income from relevant Transactions; 2) Maintain Adequate Substance in the UAE; 3) Satisfy the di minimis requirement; 4) Have not elected to be subject to Corporate tax; 5) Comply with the transfer pricing rules and documentation requirements under the Corporate tax law; and 6) Prepare and maintain audited financial statements for the purpose of the corporate tax law. For more detailed analysis you must Consult with your Tax Consultant and Comply the rules and regulation's. S&B Consulting - Sight Beyond #corporatetax #dubai #UAE #freezone

Comprehending Free Zone Taxation in the UAE: What You Need to Know The Federal Tax Authority (FTA) has released a comprehensive bulletin detailing the provisions related to Free Zone Persons under the UAE Corporate Tax Law. This essential resource is perfect for anyone looking to understand how these regulations impact businesses operating within free zones. 🔍 Key Highlights: ➡ Understand the implications of the Corporate Tax Law on Free Zone Persons. ➡ Gain clarity on compliance requirements and potential benefits. ➡ Stay informed with the latest updates from the FTA. Whether you're a business owner, tax consultant, or financial advisor, this bulletin is a must-read to ensure your operations align with UAE regulations. Explore the full bulletin for detailed insights and stay ahead in your field. #uaecorporatetax #fta #freezonetaxation #businesscompliance #uaetaxlaw #uaefreezone #corporatetax #uaeeconomy #taxconsulting

🚀 Ensure UAE Accounting and Tax compliance The second FTA Corporate Tax registration deadline is approaching on June 30, 2024. Missing this deadline could result in a AED 10,000 fine. Avoid penalties by registering early. Our expert team offers tailored tax planning and compliance solutions, ensuring efficiency and maximizing returns. Partner with us for seamless accounting and tax support Call Now: 📞 +971 50 586 4676 or Email: ✉️ consult@rippleaccountants.com #rippleaccountants #corporatetaxuae #vatregistration #UAEFTACompliance #taxefficiency

Recently, the UAE's Federal Tax Authority (FTA) released guide on 'Determining Taxable Income'. The guide is a very comprehensive document that seeks to clarify crucial aspects while determining the tax bill for a company. The publication is very timely considering that first tax year for certain corporates who follow July to June accounting year has just completed. While the guide predominantly aims at clarifying deductible / non deductible expenses, taxable / non-taxable incomes etc. Our team took a dig to identify certain items that may require adjustment owing to the requirement of transfer pricing related provisions within UAE Corporate Tax law. Here are certain key considerations from transfer pricing perspective in the recently released FTA guide: Ronak Godha #uaecorporatetax

❗ MMJS Corporate Tax Alert ❗ UAE’s Ministry of Finance has issued Federal Decree Law No. 60 of 2023 which amends the UAE Corporate Tax (CT) law to introduce BEPS 2.0 Pillar 2 Rules. The amendment codifies Pillar 2 in the CT Law by introducing certain enabling provisions i.e. new definition of top-up tax and multinational enterprise; levy of effective tax rate at the rate of 15%. Detailed rules in relation to the date of applicability, methodology and procedures of implementing Pillar 2 will be released by way of a separate Decision.    Refer to our Corporate Tax Alert for more information. Should you have any queries, reach out to our team at uae.ct@mmjs.co   Surandar Jesrani Aastha Jain Aunali Merchant Sanjay Shukla Sneha Chedda Rishi Sapra Malavika Muralidharan Madhura Rao #MMJSConsulting #corporatetax #corporatetaxuae #tax #finance #dubai #uae #gcc #growth #business #updates #mmjsalerts

Registration Deadline Update! 31st August is the final date for registering for corporate tax in the UAE. This deadline applies to all businesses issued licenses in June, regardless of the year. According to the Federal Tax Authority (FTA), late registration will incur a hefty fine of AED 10,000. Additionally, there may be other penalties if you fail to comply. It’s crucial to act now and complete your registration! Contact the tax experts at BSA Bader Saleh Auditing & Consultancy for timely registration and detailed guidance on the UAE’s corporate tax code. 📞 Phone: +971 (04) 570 7357 📱 WhatsApp: http://wa.me/+971523226455 📧 Email: info@bsauditing.com 🌐 Website: www.bsauditing.com #Deadline #Reminder #Update #CorporateTaxRegistration #CorporateTax #CorporateTaxGuide #CorporateTaxRules #TaxRegulations #Taxation #TaxLaw #TaxInUAE #TaxTips #FinancialStrategy #Finance #UAE #BusinessTax #Business #BaderSalehAuditing #TaxExpert #TaxAdvice #ExpertAdvice #TaxPlanning #TaxManagement #TaxUpdate

The UAE Federal Tax Authority (FTA) has released a new publication "Corporate Tax Public Clarification First Tax Period of a juridical person". It clarifies the first tax period for juridical persons, including those subject to the Commercial Companies Law, non-resident juridical persons with permanent establishments, and resident persons managed in the UAE. Additionally, it covers the timeline for tax deregistration in case of business cessation before or during the first tax period. Contact AM Audit for expert assistance with your tax needs. +97143231738 | +971 54 327 8971 | info@amaudit.ae| amaudit.ae #UAE #FTA #CorporateTax #BusinessCompliance #TaxRegulations #JuridicalPerson #TaxUpdates #Finance #Business #Accounting #Compliance #AMAudit