Author name: RM112

In the dynamic business landscape of the United Arab Emirates (UAE), the need for effective fraud prevention measures and financial transparency has become paramount. One crucial tool in combating financial fraud and irregularities is the forensic audit report. This comprehensive investigation and analysis of financial transactions, business operations, and accounting records play a vital role […]

The UAE, known for its status as a prominent business hub and global financial center, has recently introduced a federal law decree in December 2022 to implement a corporate tax system. Previously, the region had been considered a tax haven for businesses, with minimal taxes imposed on profits and gains, except for those earned from

Value Added Tax (VAT) is an indirect tax imposed on the supply of goods and services in the United Arab Emirates (UAE). While VAT registration is mandatory for businesses that meet certain turnover thresholds, there are situations where deregistration becomes necessary. In this blog post, we will delve into the process of VAT deregistration in

Introduction: On 26th May 2023, the Ministry of Finance introduced Decision No. 120 of 2023, which outlines the adjustments under the transitional rules for the implementation of Federal Decree-Law No. 47 of 2022 on the Taxation of Corporations and Businesses (referred to as the ‘CT Law’). Effective immediately after its publication, this decision provides guidance

Introduction On May 11, 2023, the United Arab Emirates (UAE) Ministry of Finance (MoF) released Ministerial Decision No. 97 of 2023, outlining the requirements for maintaining Transfer Pricing (TP) documentation under the UAE Corporate Tax (CT) regime. The decision aims to provide clarity and guidelines to taxable persons regarding the preparation and maintenance of Local

Corporate tax (CT) is a direct tax imposed on the net income or profit of corporations and other entities engaged in business activities. In the UAE, the Federal Decree-Law No. 47 of 2022 on taxation of corporations and businesses, also known as the Corporate Tax Law, mandates that businesses will be subject to corporate tax