Tax Group Framework For Corporate Tax UNDER UAE CORPORATE TAX, WHAT IS A TAX GROUP? If all of the requirements listed below are satisfied, UAE group companies may choose to establish a tax group: At least 95% of the (I) share capital, (ii) voting rights, and (iii) entitlement to earnings and net assets are held...
Private Pension Funds & Private Social Security Services Overview (Dubai residents’ social security and pensions) Beginning in the first month of employment, public and private organizations in the UAE are required to register their Emirati staff members with the General Pension and Social Security Authority (GPSSA). For qualified GCC nationalities and Emiratis employed in the...
What Is IPO in Business and How It Work? An IPO, or INITIAL PUBLIC OFFERING, is a revolutionary procedure that pushes a privately held company into the public sphere and enables it to offer shares for sale to the general public. This calculated financial move expands a company’s investor base beyond the original group of...
Taxation of Free Zone Person Based on their qualifying earnings, Free Zone Businesses and Qualifying Free Zone Persons may be subject to a corporate tax of 0% or 9% as of June 2023. However, Mainland Businesses that had taxable income over AED 375,000 were subject to a standard 9% tax rate. The Federal Tax Authority...
Accounting – The Backbone of any Business We must refer to accounting as the “key to social change.” History attests to this. Every nation has a story of trade in its past. Many nations still view trade as one of their most potent tools of influence. Accounting will be there if trade is there. Accounting...
A Guide to Opening a Business Bank Account in Dubai Dubai has become an important center for company establishments over the years. Dubai’s vibrant business environment has attracted a lot of small to medium-sized and major enterprises to establish their bases there in recent times. But are you aware of the prerequisites for operating a...
15 Things You Should Know About Company Formation In Dubai Due to its advantageous location, business-friendly laws, and strong economy, company formation in Dubai has grown in popularity among entrepreneurs and companies. Being the center of global trade and business, Dubai is a desirable location for businesses wishing to grow via a freezone company setup...
Elevating Your Financial Strategy: 10 Reasons to Opt for the Best Virtual CFO Services In the current competitive business environment, organizations are constantly searching for fresh ideas for maintaining their financial stability and competitive advantage. The use of virtual CFO services, also known as outsourced CFO services, is one such alternative that is gaining popularity....
Overview to Business Setup in RAKEZ The Ras Al Khaimah Economic Zone (RAKEZ), which was created in 2017 by combining the RAK Free Trade Zone (RAK FTZ) and the RAK Investment Authority (RAKIA), is an important hub for the development and expansion of businesses in the United Arab Emirates (UAE). A multitude of chances arose...
Updates on AML/KYC Laws and Regulations in UAE The United Arab Emirates (UAE) has a strong legal system in place to stop the funding of terrorism and money laundering. The United Arab Emirates (UAE), being the financial center of the Middle East, has enforced stringent laws and regulations related to Anti-Money Laundering (AML) and Know...
