Corporate Tax for the Distribution of Medical Supplies in UAE
The United Arab Emirates (UAE) has experienced substantial growth in the healthcare industry, fueled by increasing demand for medical supplies, pharmaceuticals, and advanced healthcare technologies. This expansion has led to the establishment of numerous businesses engaged in the import, export, wholesale, and retail distribution of medical supplies. With the introduction of corporate tax in the […]
Mandatory Financial Audits for Abu Dhabi Free Zone
Financial audits are a crucial requirement for businesses operating in Abu Dhabi’s Free Zones. These audits ensure transparency, regulatory compliance, and financial accountability. Entrepreneurs looking to establish a business in a Free Zone often have questions about whether financial audits are mandatory, whether they need to submit books of accounts annually, and what penalties they […]
How Can an Accounting Firm Help Your Business in UAE?
Running a business in UAE requires careful financial planning, compliance with regulations, and strategic growth management. An accounting firm plays a vital role in ensuring that businesses operate efficiently, remain compliant with tax laws, and optimize their financial performance. Here’s a detailed look at how can an accounting firm help your business in UAE. How […]
Common Audit Challenges in UAE Businesses & How to Overcome Them
Auditing plays a crucial role in ensuring compliance with corporate tax laws, VAT regulations, and financial reporting standards in the UAE. However, businesses often face significant challenges during audits, including regulatory complexities, documentation issues, and tax compliance errors. Failure to address these issues can lead to severe penalties, reputational risks, and operational disruptions. This guide […]
Corporate Tax on UAE Real Estate
The United Arab Emirates (UAE) remains a magnet for global investors and businesses, thanks to its vibrant economy, strategic location, and investor-friendly environment. However, navigating the corporate tax landscape, particularly concerning real estate and immovable property, is essential for foreign companies operating within the UAE. This guide offers a comprehensive overview of corporate tax on […]
Understanding De Minimis Requirements in UAE
In the United Arab Emirates (UAE), Free Zone Persons (FZPs) can benefit from a 0% Corporate Tax rate on their Qualifying Income, provided they meet specific conditions, including the de minimis requirements. These requirements allow FZPs to earn a limited amount of non-qualifying income without losing their preferential tax status. How Audit Firms in the […]
How to Amend Corporate Tax Registration on the EmaraTax Portal Online
With the introduction of Corporate Tax (CT) in the UAE in June 2023, businesses were required to register under the new tax regime to ensure compliance and avoid penalties imposed by the Federal Tax Authority (FTA). However, after registration, businesses may experience changes in their structure or operations that necessitate amendments to their CT registration […]
How to Apply for a VARA License For New Firms in UAE?
The UAE stands as a global hub for innovation, continuously creating opportunities for businesses to flourish. Recognizing the growing significance of virtual assets, the country has taken proactive steps to regulate and support this emerging sector. To ensure secure and compliant operations, the UAE established the Virtual Asset Regulatory Authority (VARA). This regulatory body plays […]
How Can You Edit Corporate Tax Bank Details on the EmaraTax Portal?
The implementation of the corporate tax regime in the UAE in 2023 has led to significant changes in the tax compliance landscape for businesses. As part of this transformation, eligible business entities are required to register for corporate tax with the Federal Tax Authority (FTA). Failure to comply with these registration requirements may result in […]
What Are the Differences Between Net Income and Net Revenue in UAE?
In UAE, understanding the differences between net income and net revenue is crucial for businesses and stakeholders. While net revenue represents the total sales after adjustments like returns and discounts, net income is the profit remaining after deducting all expenses, including taxes and interest. Net Revenue Definition Net revenue is the total amount of money […]