Transfer Pricing is a crucial part of any business’s Corporate Tax Return filing. Every corporation operating in the United Arab Emirates must comprehend and adhere to the new standards around Transfer Pricing disclosures in light of the Federal Tax Authority’s (FTA) most recent changes. Now, taxable persons must disclose transactions with Related Parties and Connected Persons in the TP Disclosure Form. 

With a special emphasis on the Transfer Pricing Disclosure Form (TP Disclosure Form), our comprehensive booklet, “Transfer Pricing Disclosure in UAE: What Businesses Need to Know,” provides a clear and succinct summary of the most recent changes to the Corporate Tax Return. 

The eBook “VAT Treatment of Director Services in the UAE: A Comprehensive Guide (VATP037)” provides an in-depth examination of the VAT regulations governing director services in the United Arab Emirates. It serves as an essential resource for professionals seeking clarity on the taxability and non-taxability of director services, and how to ensure compliance with UAE tax regulations. 

To qualify for Corporate Tax (CT) exemption, these entities shall comply with Article (9) of the Corporate Tax Law and adhere to all relevant federal and local regulations. Organizations engaged in social, cultural, religious, charitable, or other public benefit activities can apply for a corporate tax exemption. If approved, they will be listed in a cabinet decision requested by the Minister of Finance. Only public benefit entities listed by the Cabinet are eligible for the tax exemption.  

Introducing Our Guide to Tax Loss Relief Under UAE Corporate Tax Law 

Businesses in the UAE may encounter losses during their operations, and the UAE Corporate Tax Law provides a structured approach to managing such losses. This guide offers a comprehensive overview of tax loss relief provisions, which allow businesses to offset losses against future taxable income. 

The FTA released cabinet decision no. 100 of 2024, amending cabinet decision no. 52 of 2017. This amended the executive regulations of the UAE VAT Law. 

These changes were made effective from 15th November 2024 (unless otherwise specified in the article of this decision)  

The Federal Tax Authority (FTA) published a Corporate Tax Guide on “Tax Procedures for Private Clarifications” on the 18th of November 2024. The objective of this guide is to provide taxpayers with general guidance on when and how to file for a Private Clarification to the FTA. 

The concept of foundation was introduced in the civil law jurisdiction, putting forward a similar legal framework for GCC nations with comparable histories. These Foundations function as separate legal entities from their Founders. This separates a Foundation from a Trust. This separation aids the protection of the Founder’s personal assets. In this way the Foundation’s holding remains discrete from the said founder’s personal assets.

The eBook “Manpower vs. Visa Facilitation Services: Public Clarification No. 38” addresses the complexities of VAT implementation in the UAE. This comprehensive resource examines the recent FTA public clarification regarding significant challenges faced by companies in the region.

It provides an in-depth analysis of the VAT treatment applicable to two distinct types of supplies: manpower services and visa facilitation services. Given the FTA’s latest guidance, it is imperative for businesses to accurately identify these supplies to ensure compliance and optimize tax outcomes.

The content includes a detailed exploration of the criteria that classify a supply as manpower services, outlining the obligations of the supplier and the methodology for calculating the value of supply. It also examines the conditions under which a supply qualifies as visa facilitation services, highlighting the requisite criteria for accurate classification. A thorough discussion on the variations in the value of supply between manpower services and visa facilitation services is provided, along with special valuation rules applicable to related parties.

Real-world case studies elucidate the differences between these two service types, demonstrating the practical application of VAT treatment. Additionally, the eBook offers strategies to avoid common pitfalls in VAT treatment, ensuring alignment with current regulations.

This resource is essential for finance professionals, business owners, and compliance officers seeking to navigate the complexities of VAT treatment effectively. It equips organizations with the knowledge required to inform strategic decision-making and maintain compliance with regulatory requirements.

To enhance your understanding of manpower services, visa facilitation services, and the implications of Public Clarification No. 38, download the eBook. For further inquiries or assistance, please contact us.

Planning for the future is essential, especially when it comes to managing your estate after your passing. In the UAE, non-Muslim expatriates face unique challenges and opportunities regarding estate succession. Our comprehensive booklet, “A Guide on Estate Succession for Non-Muslim Expatriates in the UAE,” serves as an essential resource to help you understand the available options for registering your Will and ensuring your wishes are honored.

What You’ll Discover

• Understanding Wills: Learn the significance of Wills in the UAE and how they can help you avoid the implications of Shariah law on estate distribution.
• Registration Avenues: Explore the various platforms available for Will registration, including Dubai Courts, DIFC Wills and Probate Registry, and Abu Dhabi Judicial Department (ADJD). Each option offers distinct advantages tailored to your needs.
• Executor Guidelines: Gain insights into the responsibilities of Executors and the step-by-step process they must follow post-demise to manage and distribute your estate.
• Key Differences: A clear comparison matrix to help you weigh the pros and cons of each jurisdiction, ensuring you make an informed decision.

With the right planning, you can have peace of mind knowing that your estate will be handled according to your wishes. Our booklet provides a thorough understanding of the legal landscape for non-Muslim expatriates in the UAE, offering you the tools and knowledge to make informed decisions about your estate.

Whether you are new to the UAE or have been residing here for years, this guide is an invaluable resource for anyone looking to navigate the complexities of estate succession.

Download our booklet now to equip yourself with the necessary information to plan your estate effectively in the UAE. For further assistance in drafting your Will and navigating the registration process, feel free to reach out to our team at Fame Advisory. We’re here to help you every step of the way.

This eBook explores the implications of the newly implemented Corporate Tax in the UAE, focusing specifically on General Anti-Abuse Rules (GAAR). As businesses adjust to this new tax framework, a clear understanding of GAAR is essential for effective tax planning and compliance.

The eBook introduces UAE’s Corporate Tax system, highlighting its impact on business profitability. It then delves into the core concept of General Anti-Abuse Rules, explaining their purpose in preventing tax evasion through improper strategies. Detailed discussions of the GAAR provisions within the Corporate Tax Law clarify how these rules function.

Additionally, it examines the circumstances under which tax authorities may invoke GAAR and the key considerations they must assess. This section emphasizes the need for transparency and compliance, outlining the potential consequences for businesses that do not adhere to these regulations.

To assist businesses in mitigating risks associated with GAAR, the eBook offers practical strategies for compliance. It concludes with a comprehensive FAQ section that addresses common questions about General Anti-Abuse Rules, making it a valuable resource for any organization operating in the UAE.

This eBook is an essential guide for companies seeking to align their tax strategies with GAAR and ensure compliance within the evolving corporate tax framework.