Deadline for Tax Record Amendments
Key Considerations for the Grace Period
During the grace period, businesses must ensure that the following information in their tax records is up to date and accurate to prevent future complications:
Name, Address, and Email Address
Trade License Activities
Legal Entity Details
Nature of Business
Business Address
Deadline for Corporate Tax Registration
Ministry of Finance announces AED10,000 penalty for late Corporate Tax Registration
l translation
Date of Licence issuance irrespective
of year of issuance
Deadline for submitting a Tax
Registration application
1 January – 31 January
31 May 2024
1 February – 28/29 February
31 May 2024
1 March – 31 March
30 June 2024
1 April – 30 April
30 June 2024
1 May –...
VAT Reverse Charge on Electronic Devices
Introduction
In a recent development, the Cabinet has passed Cabinet Resolution No. 91 of 2023 introducing VAT reverse charge mechanism on electronic devices.
It should be noted that Article 48(8) of the Federal Decree-Law No. 8 of 2017, which was recently added into the Decree-Law, gives general powers to the Cabinet to...
Accounting and Auditing Requirements
As we are aware that the Corporate Tax has been introduced from 1st June 2023 in the U.A.E.
ACCOUNTING REQUIREMENTS
As the tax is levied on the profits of the company/business, it is of paramount importance that the profits are calculated as prescribed by the Federal Tax Authority. It is also important...
Corporate Tax Registration
This is to bring to your kind attention that the Federal Tax Authority (FTA) has opened the registration for Corporate Tax for all the Limited Liability Companies (L.L.C.). The L.L.C. will be liable for Corporate Tax from 1 June 2023, depending on the Accounting Period followed by the L.L.C. For...
Local agents may no longer get 0% VAT on commissions from overseas principals
UAE VAT rules: Will commissions of local agents be charged?