Clarification on the Mechanism for Correction of Error or Omission in the VAT Tax Return
Clarification on the Mechanism for Correction of Error or Omission in the VAT Tax Return The Federal Tax Authority issued Decision No. 8 of 2024 to clarify the mechanism to correct an error or omission in the tax return where there is no difference in the amount of tax due. The following are the cases […]
Updated Emiratisation target
Updated Emiratization target Emiratisation represents a pivotal step, with ambitious goals to boost local workforce participation in key industries. These targets offer UAE nationals career growth and businesses the chance to benefit from government incentives, creating a win-win for all as the nation advances toward its economic vision. Starting in 2025, private sector companies with […]
Introduction of a Domestic Minimum Top-up Tax (DMTT)
Introduction of a Domestic Minimum Top-up Tax (DMTT) The Ministry of Finance has announced updates in relation to certain provisions of Federal Decree-Law No. 47 of 2022 on the Taxation of Corporations and Businesses. One of these amendments includes the introduction of a Domestic Minimum Top-up Tax (DMTT). Following the issuance of Federal Decree Law […]
UAE CORPORATE TAX (CT)
UAE CORPORATE TAX (CT) The Federal UAE CT Law was signed on October 2022 and published on December 2022 and the CT regime became effective for financial years (FY) starting on or after 1 June 2023. CT applies to juridical persons incorporated in the UAE (including Free Zones) and juridical persons effectively managed and controlled […]
UAE announced implementation of mandatory e-invoicing from July 2026 and amends Law provisions
UAE announced implementation of mandatory e-invoicing from July 2026 and amends Law provisions As part of UAE’s broader digital transformation and tax compliance initiatives to enhance transparency, reduce fraud and streamline business processes, the Ministry of Finance announced the issuance of Federal Decree-Law No. 16 of 2024 (Law No. 16) and Federal Decree-Law No. 17 […]