ABU DHABI: The Federal Tax Authority (FTA) intensified its Corporate Tax compliance awareness activities and events this year, organised to highlight the importance, objectives, procedures, and requirements for complying with the Corporate Tax Law, which came into effect last year and applies to financial years beginning on or after 1st June 2023. In a press […]
New Delhi: Two months after publishing a groundbreaking report on income and wealth inequality in India, the Paris-based World Inequality Lab has released a follow-up note advocating for a “comprehensive wealth tax package on the ultra-rich.” The March report had stated that “the ‘billionaire raj’ (a term used to define the post-2010s rapid rise of […]
Abu Dhabi: The Federal Tax Authority (FTA) has released a comprehensive guide detailing the application of Corporate Tax to Free Zone Persons under the Free Zone Corporate Tax regime, allowing Qualifying Free Zone Persons to benefit from a 0% Corporate Tax rate on Qualifying Income. The guide provides a guide on the Corporate Tax Law […]
Dubai: His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, has enacted Law No. (1) of 2024 to govern the taxation of foreign banks operating in Dubai. This law applies to all foreign banks in Dubai, except those licensed within the Dubai International Financial Centre (DIFC). Foreign banks […]
Dubai: The UAE Corporate Tax (CT) regime was first announced by the Ministry of Finance on 31 January 2022, with a planned introduction date of 1 June 2023. As the first direct tax to be levied in the country, businesses and taxable individuals have had to assess how they have been impacted and address these […]
UAE: As per the announcement on 31 January 2022, a corporate tax is being introduced in UAE, effective from 1 June 2023. There have been lots of discussions, and debates around the expectations from the tax laws, and from the taxpayers. Although the final law is still not published, the Ministry of Finance released a […]
As per the announcement on January 31, 2022, a corporate tax is being introduced in UAE, effective from 1 June 2023. There have been lots of discussions, and debates around the expectations from the tax laws, and from the taxpayers. Although the final law is still not published, the Ministry of Finance released a public […]
Dubai: Dubai has begun its 25 fils tariff on plastic bags to encourage the use of reusable products. The charge that came into effect today is part of a wider initiative to protect the environment and reduce waste. This is also aimed at phasing the disposable bags out in two years. UAE, a major oil […]
Sharjah has announced paid parking services in Sharjah’s Mamzar Corniche and Al Khan neighbourhoods. Sharjah Municipality shared this new tariff via their Instagram page that states that said parking spaces in Al Mamzar Corniche Street and Al Khan areas will be paid as of February 14. Additionally, these spaces will be subject to fees on […]
