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Penalties for Late Registration Corporate Tax Penalties for Late Registration Corporate Tax Attention all businesses in the UAE! A new cabinet decision has been made that will impact your bottom line. Effective March 1st, a penalty of AED 10,000 will be imposed for late registration of your corporate tax. Don’t let this hefty fine weigh […]
Bounced Cheque Law The United Arab Emirates (UAE) has a strict legal system that is designed to maintain order and ensure that individuals and businesses are held accountable for their actions. One of the laws that has garnered a lot of attention in recent years is the bounced cheque law. This law has been controversial […]
What is input and Output VAT: What is input and Output VAT? VAT paid by a business on purchases of goods or services used in its business operations. Businesses can claim input VAT as a credit against their output VAT liability, which is the VAT charged on sales of goods and services. Understanding Output VAT: […]
How to Register a Company in Dubai Welcome to the land of opportunities! Dubai, United Arab Emirates is the ideal destination for entrepreneurs like you who want to establish a thriving business in a profitable environment. Get ready to bask in the great benefits of the UAE, where you can enjoy 100% foreign ownership, ease […]
UAE Corporate Tax Rates UAE Corporate Taxation holds a crucial position in the world of finance, as it is a direct tax that is imposed on the taxable income of corporations and businesses. It is also sometimes referred to as ‘Corporate Income Tax’ or ‘Business Profits Tax’ in certain jurisdictions. The implications of this tax […]
Documents Required for VAT Registration As a professional, you understand the importance of complying with the regulations and requirements set forth by governing bodies. One of these requirements, for businesses operating in certain countries, is VAT registration. Value Added Tax (VAT) is a tax on goods and services that is collected by the government. To […]
Condition of the VAT Registration Process Understanding the Condition of the VAT Registration Process By the VAT law and its corresponding regulations, as well as the GCC VAT agreement, specific criteria must be met to become a registered VAT entity. These criteria are outlined in Articles 7 and 8 of the executive regulations and elaborated […]
UAE Taxable Supplies UAE Taxable Supplies As businesses operating in the United Arab Emirates (UAE), it is important to understand the concept of taxable supplies and how they impact your financial obligations. The UAE’s tax system has undergone significant changes, and businesses need to stay up-to-date with the latest regulations to avoid non-compliance penalties. We […]
Identifying Business Needs and Goals Identifying Business Needs and Goals Running a business successfully requires more than just a great idea or product. To ensure that your business is on the right track, you must identify your business needs and goals. Identifying your business needs and goals is important because it helps you create a […]