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VAT LAW UPDATES (Effective from 01 January 2026)   The Ministry of Finance has announced the issuance of Federal Decree-Law No. (16) of 2025 amending certain provisions of Federal Decree-Law No. (8) of 2017 on Value Added Tax, which will enter into force as of January 1, 2026. The move comes as part...

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  

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 –...

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...

  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...

  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...

UAE VAT rules: Will commissions of local agents be charged?