Tax insights

On December 9, 2022, the UAE released the Federal Decree-Law No. (47) of 2022 on the Taxation of Corporations and Businesses. The Corporate Tax Law was published in the official gazette on October 10 and is effective from October 26 in the UAE. The Law is applicable for the Financial Years starting on or after June 1, 2023.

The Dubai Airport Free Zone Authority (DAFZA) announced the deadline is 31 st of May 2020 for “economic substance” notifications for FY 2019 for all DAFZ-based entities. The economic substance notification format is available on DAFZA’s online customer portal.

 

EXPANDING YOUR BUSINESS IN THE UAE? CONSIDER THESE TAX IMPLICATIONS BEFORE

    Administrative Exceptions Guidelines issued by FTA recently.

VAT IN THE UAE: A RECAP OF HOW THE EMIRATES’ FIRST TAX PERFORMED IN THE LAST YEAR   Introduction

Hotel guests in the country are subjected to five per cent VAT, in addition to the existing 20 per cent municipality fee and service charges combined, making the average room rates costlier. Additionally, various leisure activities have seen pricing adjustments to include five per cent VAT from January 2018.

Not ready for VAT?... Get ready to pay!

VAT is being introduced into the United Arab Emirates and Saudi Arabia from January 1, 2018

With effect from January 1, 2018, valued added tax (VAT) will be a reality in the UAE. As the real estate sector affects most expat lives in the UAE, let us take a look at the implications of the new levy on this industry.

Following an announcement that Value Added Tax (VAT) will be implemented in the UAE from 2018, several tourism organisations have been hosting workshops to educate all travel segments about it.

Here at RSM, we thought that for a change, we should look out for you and have made a list of 5 things you NEED to do to prepare for VAT in the UAE.