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...
Federal Tax Authority Decision No. 16 of 2023 The UAE’s business activities are being greatly impacted by and subject to regulation by the introduction of the Corporate Tax Law. The Federal Tax Authority has made a number of changes and made it easier for businesses of all stripes, including partnerships, to understand the new tax...
Value Added Tax (VAT) and Holding Company The United Arab Emirates (UAE) has a number of regulations that cover a wide range of topics, including where goods and services are supplied. Businesses operating in the UAE must be aware of these regulations in order to guarantee compliance and prevent possible fines. VAT on holding companies...
UAE VAT Place of Supply Rule for Goods & Services Introduction The regulations surrounding Value Added Tax (VAT) in the United Arab Emirates (UAE) comprise a range of policies and directives, one of which addresses the place of supply for goods and services. Businesses operating in the UAE must be aware of these regulations in...
GOLD Item Making Charges VAT Treatment VAT registrants who supply gold are exempt from having to charge VAT on the supply of gold or gold-related products if the requirements of a particular reverse charge mechanism are satisfied. The registered receiver uses the unique reverse charge to account for VAT related to the gold. On the...
Small Business Relief for UAE Corporate Tax Some businesses are exempt from ordinary corporate tax reporting requirements and are released from the need to calculate and pay corporate tax under the Small Business Relief program. In the relevant Tax Period ending on or before December 31, 2026, and in previous Tax Periods, an eligible Taxable...
Taxation in Ireland & BVI Type of Taxation in Ireland 1) INDIVIDUAL TAX ON PERSONAL INCOME Ireland’s tax system In Ireland, the financial year begins on January 1 and ends on December 31.In the event that you just relocated to Ireland in order to begin employment, you must apply for a Personal Public Service Number...
Compliance for Representative office In simple terms, a representative office is an extension of an established company, which may be located domestically in the United Arab Emirates or abroad. To summarize it simply. A parent firm’s branch office that serves to promote a foreign company in UAE market is called a representative office. In the...
Financial Action Task Force (FATF) Financial Action Task Force (FATF) is the international monitor on terrorism financing and money laundering. It establishes global norms with the goal of stopping these illegal activities and the harm they do to society. The FATF’s Suggestions The FATF Recommendations offer a thorough framework of policies to assist nations in...
BHARAT MART The Comprehensive Economic Partnership Agreement between the UAE and India is supposed to be improved by Bharat Mart. The project aligns with the overall objective of giving Indian companies an effective platform to contact customers around the world. An new marketplace called Bharat Mart is set to start up in Dubai in 2026....
