Bahrain’s Parliament has unanimously approved a new tax targeting multinational enterprises (MNEs). This decision came during a retrospective vote on a royal decree issued by His Majesty King Hamad concerning the Domestic Minimum Top-up Tax for MNEs Law, which occurred during the National Assembly’s recess last year. Finance and National Economy Minister Shaikh Salman bin...
The UAE’s Federal Tax Authority (FTA) has announced a new initiative that waives penalties for businesses that missed the corporate tax registration deadline. This decision comes as part of a UAE Cabinet Decision aimed at providing support to companies struggling to comply with tax regulations. The waiver applies to businesses that file their tax return...
The United Arab Emirates has announced that it will waive late registration fees associated with the corporate tax law. This decision is aimed at easing the financial burden on companies as they navigate the new tax regulations. To qualify for the waiver, companies must file their tax returns within seven months from the conclusion of...
The Ministry of Finance in the UAE has announced Cabinet Decision No 35 of 2025, which establishes guidelines for determining the nexus of non-resident individuals for corporate tax purposes. This new regulation clarifies when non-resident investors in Qualifying Investment Funds (QIFs) and Real Estate Investment Trusts (REITs) are subject to corporate tax under Federal Decree-Law...
As the UAE prepares to implement its new corporate tax, there are growing concerns from business owners regarding the potential penalties, late filing fees, and interest on overdue tax payments. These factors could create significant anxiety among companies adjusting to the new tax landscape. According to The National, David Daly, a partner at the Gulf...
As the number of businesses launching in the UAE continues to rise, some newly established small and medium enterprises (SMEs) appear to be overlooking a crucial requirement: the need to initiate their tax registration promptly. According to the Federal Tax Authority, companies must complete their tax registration within three months of incorporation. According to MSN,...
Businesses in the UAE face approaching deadlines for corporate tax registration, with the Federal Tax Authority (FTA) increasing its efforts to ensure compliance. The FTA has emphasized the importance for individuals subject to corporate tax to submit their registration applications by the end of March 2025. Failure to do so may result in violations of...
The United Arab Emirates (UAE) is witnessing a significant evolution in its tax culture, which is crucial for fostering a more sustainable and diversified economy. Analysts and tax experts emphasize that this shift will increase transparency and boost investor confidence. The corporate sector has quickly aligned itself with tax compliance due to effective awareness campaigns...
March 2025 brings several important updates for UAE residents, freelancers, and commuters. These changes span traffic regulations, tax requirements, and utility billing, alongside developments in space technology. Starting today, the UAE’s updated traffic law lowers the legal driving age to 17 and includes e-bikes and e-scooters under traffic regulations. Stricter penalties for violations like drunk...
The UAE has implemented a federal corporate tax with a standard rate of 9 percent, effective from the financial year commencing on or after June 1, 2023. This shift aims to enhance regulatory clarity, but recent alterations to reporting timelines have left many businesses scrambling to adapt. Recently, some companies in the UAE received notifications...