When it comes to expanding globally from a UAE base, the complexity of tax regulations across different jurisdictions can pose significant hurdles
Failure to comply with the tax deadlines could result in hefty fines
The new tax regime clarifies that the headline 9 per cent corporate tax will be creditable against the emirate-level tax on foreign banks
By April 2025, a revamped tax regime will take effect, stipulating that all foreign income and gains will become taxable after just four years of UK residence
Anthony Mark Patterson, an alleged ‘accomplice’ of Sanjay Shah, is charged with participating in a scheme in which the Danish state lost more than 9 billion Danish crowns ($1.3bn)
With the unveiling of Budget 2024 just round the corner, the NRI community hopes that the Tax Deducted at Source (TDS) process as well as the tax bracket is re-worked to provide relief
Individuals won’t be taxed in the UAE any time soon, says a top delegation from the UAE’s Ministry of Finance
Embracing tools such as VAT Filing Reconciliation and Assistance and Accounts Payable Automation becomes crucial to ensure efficient, accurate tax operations and compliance
The FTA’s new guidelines offer clarity for non-resident persons, who derive income in the UAE, or those who conduct business or part of their business in the UAE
The proposed tax would be payable by multinational businesses that make over $810m a year from global digital services
The package offers a variety of features and incentives that can help SMEs save money and get help with tax compliance
The two countries agreed to strengthen their cooperation and exchange knowledge, experiences and best practices in the field of tax policy
According to the ministry, the three new decisions aim to enhance the flexibility of UAE’s corporate tax regime and ensure a supportive business environment for all sectors
The authority said in a statement Wednesday that it would now begin an asset recovery process
Organisations that qualify for the exemption include entities that focus on activities such as philanthropy, community services and corporate social responsibility
EmaraTax will enhance the way that taxpayers can access the FTA’s services, pay their taxes and obtain refunds
Tax authorities are aggressively adopting artificial intelligence to generate and preserve taxpayer data
Inspections conducted in the first half of 2022 increased by 104 per cent compared to 4,878 conducted in 2021
Oman has implemented a series of reforms to bridge the budget gap and lower its debt, including the introduction of a 5 per cent value-added tax last year
The country plans to levy a 9 per cent corporate tax from June 2023
The country plans to introduce a 9 per cent federal tax on corporate earnings for the first time next year
The Ministry of Finance has set a rate of 9 per cent for taxable income exceeding Dhs375,000
The bill has now been sent to the Shura Council, the upper house of the National Assembly
The claims are reportedly related to a dispute over how to calculate value-added tax
The treaty is subject to approval by Israel’s parliament and cabinet
The kingdom has no plans to introduce an income tax, Prince Mohammed confirmed
The country also has plans to extend visa-free arrival for up to 30 days for citizens of more than 100 countries
The Abu Dhabi Judicial Department will organise training courses for judges and prosecutors specialising in money laundering and tax evasion
The kingdom hiked its value added tax (VAT) from 5 per cent to 15 per cent in July
However, a new tax of 5 per cent – the Real Estate Transaction Tax – will be levied on property deals in place of the VAT