With a standard statutory tax rate of 9 percent and a 0 percent tax rate for taxable profits up to Dhs375,000 to support small businesses and startups, the UAE corporate tax regime will be amongst the most competitive in the world.
Indian Finance Minister Nirmala Sitharaman announced a slew of measures on Friday to revive sagging investment in Asia's third largest economy including a cut in corporate taxes.
The Cabinet Decision specifies the administrative penalties that will be imposed by the Federal Tax Authority for violations related to the application of the Corporate Tax Law, effective as of 1st August 2023.
Firms undergoing liquidation or termination are eligible for a corporate tax exemption provided a notification has been submitted to the Federal Tax Authority (“FTA”) within 20 business days from the date of the beginning of the liquidation or termination procedure.
The Federal Reserve has raised interest rates on Wednesday by 75 basis points, taking the interest rate to between 1.5 and 1.75 per cent, which is still quite low. But it is expected that interest rates could be as high as 3.4 per cent by the end of 2022 even as inflation is expected to hover round 5.2 in the year.
The UAE Ministry of Finance has released two new decisions that together specify the main features of the Corporate Tax regime as it applies to juridical persons operating out of free zones in the UAE.
The introduction of corporate tax in the UAE signifies a significant step in the country’s economic transformation. Effective from June 1, 2023, businesses
The UAE Ministry of Finance on Monday announced the issuance of Cabinet Decision No. 56 of 2023 on a Non-resident person’s Nexus in the UAE for the purposes
Organised by the Federal Tax Authority (FTA) to ensure direct and constant communication with various business sectors, the Tax Support initiative continued its activities across all emirates to raise tax awareness and improve compliance rates. The Authority revealed on Monday that two new awareness tours were held in
The Federal Tax Authority (FTA) has launched the ‘Tax Support’ initiative to raise tax awareness among business sectors in the UAE through direct and sustained contact, as a means to enhance compliance with tax laws and regulations. The first workshop for 2023 under the initiative was held on Jan.24 and 25 as a collaboration