Background UAE CT Law, released on 9th December 2022, is broadly aligned with Organisation for Economic Co-operation and Development (OECD) standards.  Applicability of Corporate tax is on every...

Background UAE CT Law, released on 9th December 2022, is broadly aligned with Organisation for Economic Co-operation and Development (OECD) standards. All taxpayers are required to file a UAE...

Background On 31 January 2022, the UAE Ministry of Finance announced the introduction of Federal Corporate Tax in UAE w. e. f. 1 June 2023. UAE Federal Tax Authority, on 28 April 2022 issued a public...

Background A Person conducting Extractive Business can claim exemption, provided it meets all the following conditions: The Person• must hold an interest in a right, concession or license issued by a...

Background On 31 January 2022, the UAE Ministry of Finance announced the introduction of Federal Corporate Tax in UAE w. e. f. 1 June 2023. UAE Federal Tax Authority, on 28 April 2022 issued a public...

Taxability of “Government Entity” Article 5 of the UAE Corporate Tax Decree (“Law”) addresses the following provisions related to Government Entities Provisions relating to Adjustments General...

Corporate Tax Exemptions In addition to Govt. and Govt. Controlled Entities, Extractive and Non-Extractive Natural Resources Business, the UAE Corporate Tax grants exemption to the following Persons...

Background Article 61 of the UAE CT Law contains provisions regarding ‘Transitional Rules’ for preparation of opening balance sheet for Corporate Tax purposes for the first Tax Period. It provides...

Background Under UAE CT Law, a Non-Resident Person that has a Permanent Establishment (PE) in the UAE will be subject to Corporate Tax (CT) on any income that is attributable to that PE. However...