Most business owners know their business from A to Z. However, many of them are unaware of the true value of their company in the market. Understanding your company’s real worth is critical for achieving goals and viably utilizing...
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Companies that are within the scope of the UAE corporate tax have to comply with the following obligations:• Carry out corporate tax registration in the UAE• Obtain a Tax Registration Number (TRN) from the Federal Tax Authority (FTA)• Calculate...
Companies licensed by a free zone authority in the UAE are referred to as Free Zone Persons. Such companies will be subject to the proposed UAE corporate tax but will continue to enjoy the current tax incentives if they...
managed and controlled in the UAE will be treated as if they were UAE-incorporated entities. In short, the following types of companies will come within the scope of the UAE Corporate Tax regime:• Domestic companies in the UAE Mainland•...
As only a few months are left for the corporate tax to take effect, more business owners are now approaching corporate tax consultants in Dubai to assess its potential impact on their companies. Even though the corporate tax is...
Businesses are not allowed to carry forward or back any unutilized Foreign Tax Credit to other tax periods. The Federal Tax Authority (FTA) will not refund any unutilized Foreign Tax Credit. Corporate tax advisors in Dubai can provide you...
The operations of most businesses in the UAE are spread across various jurisdictions through branches or subsidiaries. A foreign branch would generally constitute a Permanent Establishment (PE) in the foreign country and will be subject to the corporate tax...
Businesses need to understand how can they claim foreign tax credits since the UAE corporate tax is set to become effective from June 1st 2023. Corporate tax consultants in Spancom can help entrepreneurs claim foreign tax credits to avoid...
Filing incorrect tax returns in the UAE is liable for a fixed penalty of AED 1,000 for the first time and AED 2,000 in case of repetition. Apart from that, the following penalty will apply:• As an exception to...
Taxable persons are required to issue a tax invoice or an alternative document while making a taxable supply. Failure to do so will attract a penalty of AED 2,500 for each missing tax Invoice or alternative document. You can...