Starting Point: Net Accounting Profit or Loss The process for determining taxable income begins with the net accounting profit or loss reported by the taxable person. This figure provides the baseline for further adjustments required by the UAE CT Law. Key Adjustments for Accurate Taxable Income Calculation Exempt Income: Identify and exclude income that is […]
Key Rules for Determining Taxable Income in the UAE Read More »
Withholding Tax Credit as an Instrument to Avoid Double Taxation In an increasingly globalized economy, businesses and individuals often receive income from various foreign sources, such as dividends, interest, royalties, and service fees. To appropriately tax these cross-border transactions, many countries implement withholding tax mechanisms. Typically, the payer—a business or financial institution in the foreign
Mastering Withholding Tax and UAE Corporate Tax: A Guide to Managing Foreign Tax Credits Read More »
Introduction We take this opportunity to discuss a very hot topic of Redundancy, a term frequently used by employers, but not always properly understood or fairly applied. 2016: Initial recognition of redundancy under UAE Labour Law, providing a foundation for lawful termination due to business needs. 2020: Ministerial Resolution No. 279 of 2020 introduced during
Redundancy in the UAE: Understanding Your Rights and the Legal Framework Read More »
There is also a possibility to seek various exemptions and reliefs. However, certain conditions must be met for businesses to qualify for exemptions or reliefs and understanding these conditions is crucial for maximizing potential savings now that businesses must accept and adapt to the new CT Law. Types of Exemptions Extended by the Ministry of
Hidden Savings: Discover If Your Business Qualifies for UAE Corporate Tax Exemptions Read More »
The first financial year under the Commercial Companies Law may not necessarily be a 12- month period, but instead can be a period between 6 months and 18 months. Where the first tax period of such taxable person is not a 12-month period but a period between 6 months and 18 months, the taxable person
FTA Issues Guidance on the First Tax Period for Juridical Persons Read More »
The UAE has developed a well-coordinated system to ensure the efficient enforcement of laws across its seven emirates. Unified Databases: Centralized criminal record databases allow seamless information sharing among law enforcement and judicial bodies, ensuring that a person’s criminal history is accessible in any emirate. Police Cooperation: Law enforcement agencies collaborate through the Ministry of
Understanding Criminal Records and Their Implications for Re-entry into the UAE Read More »
Client’s Concern The client, who was a resident in the United Arab Emirates, had left the country in 2011 due to financial difficulties during the last global financial crisis and had not returned since, fearing the potential existence of financial and criminal cases registered against him. Recognizing the UAE as a prime location for employment
FACTS Unfortunately, the Company accrued significant financial debts and was unable to sustain its operations. Complications arose when the Shareholder ignored our client’s repeated attempts to address the company’s operational problems. This neglect has led to a complete halt in the business activities, and an inability to pay employees wages and other financial obligations, which
Dubai Court Grants General Manager’s Request for Relief from Managerial Duties Read More »
Understanding UAE Residency Laws: Deportation Regulations and Procedures Deportation is a consequential aspect of immigration law in the United Arab Emirates (UAE), designed to uphold National Security, Public Order, and Societal Norms. Governed by stringent regulations overseen by the Federal Authority for Identity, Citizenship, Customs and Port Security (ICP), deportation serves as a legal tool
Reasons for Issuing Ministerial Resolution No. 318 The issuance of Resolution No. 318 by the UAE Ministry of Human Resource and Emiratisation (MoHRE) is driven by the imperative to combat illicit practices, particularly residency trade. This unethical practice involves the recruitment of expatriate workers under deceptive terms, leaving them vulnerable without legitimate employment. Such practices
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