Introduction: On June 1, 2023, the UAE ushered in a significant change with the implementation of corporate tax. Set at a competitive 9%, this tax regime aims to maintain the nation’s appeal to businesses. However, the nuances of corporate tax, especially concerning tax losses, demand attention. In this piece, we delve into the intricacies of …
In the ever-evolving business milieu of the UAE, adept management of your corporate tax obligations stands as a linchpin for achieving sustainable success. Among these obligations, timely and compliant filing of corporate tax returns reigns supreme. However, delving into the intricacies of tax returns is no straightforward feat. In this discourse, we aim to demystify …
The advent of corporate tax in the UAE has triggered a surge of inquiries, especially among freelancers, who are seeking clarity on its implications. As the landscape of corporate taxation in the country is relatively new, there is a palpable sense of uncertainty among freelancers regarding their tax obligations under this new regime. To address …
Navigating Corporate Taxation for Freelancers in the UAE Read More »
The inception of VAT in the UAE on January 1, 2018, brought forth a standard rate of 5%. A business becomes liable for VAT registration if its taxable supplies and imports exceed AED 375,000 annually. However, there’s also an option for businesses to opt for voluntary registration. It can be opted if their taxable supplies …
In the realm of taxation, two significant concepts, tax evasion and tax avoidance, are often employed to minimize tax liabilities. However, these approaches differ markedly in terms of legality and ethical considerations. Tax Evasion: A Breach of Law Tax evasion pertains to the deliberate dodging of tax obligations through illicit, fraudulent, or impermissible means. This …
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