The UAE Ministry of Finance, on 23rd May, 2023, issued three Ministerial Decisions concerning Accounting Standards to be adopted, conditions applicable for exemption of private pension funds from Corporate Tax and in respect of procedure and conditions for exemption from Corporate Tax of income derived from Participating Interest. According to.
The UAE Ministry of Finance, on 29th May 2023, issued three Ministerial Decisions concerning tax group, interest deduction limit and unincorporated partnership, foreign partnership and family foundation. According to the Ministerial Decision No. 125 of 2023, Entities in which parent UAE owned 95% or more can form or join a.
The UAE Ministry of Finance, on 30th May 2023, issued three Ministerial Decisions concerning transfers within a qualifying group, business restructuring relief and general rules for determining taxable income. According to the Ministerial Decision No. 132 of 2023, For claiming corporate tax relief on the transfer of assets and liabilities.
The UAE Govt. on 01st June 2023, issued a Ministerial Decision and cabinet decision concerning qualifying income emanating from qualifying activities and also excluded activities in respect of free zone persons. According to the Cabinet decision No.55 of 2023, the Qualifying Income of the Qualifying Free Zone Person shall include.
The UAE Govt. on 05th June 2023, issued a cabinet decision concerning the determination of a non-resident juridical person’s nexus in the state. According to Cabinet decision No.56 of 2023, a Juridical Non-Resident Person shall have a nexus in the State if it earns income from any Immovable Property in.
The Government of UAE announced on 31st January 2022 that UAE would be promulgating legislation for levying federal Corporate Tax (C T) on business profits and the same shall be effective for the tax period commencing on or after 1st June, 2023. For years UAE has been considered as a.
Economic Substance Regulation in the UAE is basically derived from the inclusive framework on BEPS Action 5 of OECD which requires that Enterprises should not be allowed to park their profits in a jurisdiction with No or low tax regime without core functions of the enterprise being carried out in.
