INSIGHTS
Businesses in the UAE have adjusted well to the VAT system over the past five years, given their size and experience. However, freelancers and self-employed individuals may face some difficulties as they may not fully understand the requirements. This article examines the impact of UAE VAT on freelancers and provides
On November 6, 2023, Cabinet Decision No. 108 introduced significant updates to the Executive Regulation of the Federal Decree-Law No. 7 of 2017 on Excise Tax, specifically concerning the responsibilities of Warehouse Keepers operating in Designated Zones. Article 10 of this decision outlines the protocol for notifying the relevant authority
As businesses navigate the complexities of Value Added Tax (VAT) compliance, the introduction of the Value Added Tax Executive Regulations No. 53/2021 has brought significant changes, particularly concerning the role of the Responsible Person. This article aims to clarify the obligations and responsibilities of the Responsible Person as stipulated in
The landscape of Value Added Tax (VAT) in the UAE continues to evolve, with new regulations providing clarity and guidance for businesses navigating their tax obligations. One significant piece of legislation in this domain is the Cabinet Decision No. 100 of 2024, which outlines the procedures for tax deregistration under
In the realm of corporate tax law, the decision to elect for Business Restructuring Relief (BRR) carries significant implications, especially concerning the transfer of assets and liabilities at net book value. This article delves into the consequences of this process, shedding light on how such elections can impact businesses and
As businesses navigate the complexities of tax compliance, understanding the specific regulations surrounding excise tax is crucial. Article 11 of the Executive Regulation of the Federal Decree-Law No. 7 of 2017 on Excise Tax, outlined in Cabinet Decision No. 108 of 2023, provides clear guidelines on the concept of stockpiling.
Introduction The Customs Act, enacted by Law No. (40) of 2002, along with Act No. (25) of 2018 on Excise Tax, lays down essential regulations governing the management of excise goods in Qatar. This framework aims to ensure that the taxation process remains secure and compliant while promoting fair trade
As the UAE continues to refine its tax regulations, understanding the nuances of registration as a Tax Group becomes increasingly important for businesses. The recent Cabinet Decision No. 100 of 2024 outlines the procedures and requirements for entities wishing to form a Tax Group under the framework of the Federal
The landscape for businesses operating within UAE underwent a significant shift in June 2023, once the Corporate Tax Law came into effect in UAE. As companies in the UAE positioned themselves to navigate the intricacies of international tax regulations, one aspect that demanded close attention was the characterization of businesses
Excise Tax: Federal Decree-Law No. 7 of 2017 (Federal Decree-Law No. 19 of 2022) On November 6, 2023, the UAE Cabinet issued Decision No. 108 of 2023, which clarifies critical aspects of the Executive Regulation of the Federal Decree-Law No. 7 of 2017 concerning Excise Tax. This decision specifically addresses the
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