The UAE corporate tax law offers significant advantages for businesses operating in free zones, particularly with a 0% corporate tax rate applicable to transactions within these areas. This provision is especially relevant for Qualifying Free Zone Persons (QFZPs), who can benefit from this tax rate when they earn qualifying income from specific activities, even if...
Dubai is becoming an attractive destination for entrepreneurs from India and the UK, as many are considering relocating their operations and assets to the UAE. A recent report by HSBC reveals that 5% of business owners from overseas are contemplating this shift, with those from India and the UK showing a particular interest. The report...
The Federal Tax Authority (FTA) held an informative workshop in Dubai today focused on the ‘Rules for Determining Income Subject to Corporate Tax.’ This event is part of the FTA’s ongoing campaign aimed at raising awareness of corporate tax among various business sectors and taxpayers. The FTA’s initiative aims to educate eligible taxpayers about their...
In an effort to enhance tax transparency and improve the business environment in the country, the UAE Ministry of Finance has announced a Cabinet decision regarding the treatment of joint ventures. This decision, approved by the Federal Tax Authority, allows joint ventures to be treated as taxable entities under Federal Decree-Law No. (47) of 2022...
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,...