E-invoicing in the UAE is set to transform how businesses manage invoicing and VAT compliance. This blog explains what e-invoicing means, how it differs from traditional PDF or paper invoices, who...
IFRS 16 might sound like another technical accounting standard, but for many businesses, it’s a fundamental shift in how leases are viewed on the balance sheet — and how decision-makers...
What is a Mainland Company in UAE? Mainland companies are legal entities registered with an Emirate authority (Department of Economy and Tourism). As a result, these companies enjoy a certain level of...
To understand this, we should know about the different kinds of audits normally performed in UAE. Lets have a brief introduction of these. Regulatory Audit A regulatory audit focuses on ensuring that...
We advise you to read through this guide to fully understand the steps required on how to incorporate a company in Dubai. The process of establishing a company in the UAE involves only a few simple...
Since UAE follows residency-based taxation, where resident entities are taxed with respect to their worldwide income, double taxation may occur where income is taxed in both the source country and...
CT registration/deregistration, Tax return and Payments Every Taxable Person will be required to electronically register for UAE CT with the Authority before applicable tax period and obtain a Tax...
General rule As per Cabinet Decision No. (49) of 2023, business owners in the country will be subject to corporate tax only if their combined turnover in a calendar year exceeds Dh1 million (around...
Summary on calculation of taxable income Set out below is an illustrative/indicative summary of how Taxable Income will generally be computed for UAE CT purposes: Net accounting profit/(loss) before...