Being one of the most desirable business destinations for entrepreneurs, the UAE introduced VAT in January 2018. Recognised as a tax-free country globally, the rate of VAT is, however, 5 percent which does not burn a big hole in the business owners’ pocket. As VAT provides source of income to the government, it reduces the […]

Within UAE’s robust security framework, the Financial Action Task Force (FATF) is responsible for keeping a watchful eye on global Anti Money Laundering (AML) and counter-terrorist financing (CTF) efforts. In recent events, the FATF has classified Democratic People’s Republic of Korea (DPRK), Iran, and Myanmar as high-risk jurisdictions due to alarming deficiencies in their AML

The Value Added Tax (VAT) was introduced in the UAE on 1st January 2018 in a move to diversify the country’s economy by bringing forth new sources of revenue. Since its implementation, VAT has acted as a catalyst for economic stability by becoming an integral component of UAE’s taxation framework. In tandem, VAT registration has

As you may be aware, the UAE government has introduced the federal corporate tax law which has been in effect since 1st June 2023 has made a significant impact on the financial years of every business. Since corporate tax in the UAE follows the best global guidelines and standards issued by the Organisation of Cooperation

As you may be aware, the UAE government has introduced the federal corporate tax law which has been in effect since 1st June 2023 has made a significant impact on the financial years of every business. Since corporate tax in the UAE follows the best global guidelines and standards issued by the Organisation of Cooperation

When it comes to establishing businesses in the UAE, Free Zones always appear on the top of every business’ watchlist whether it is major corporations or startups. The popularity of Free Zones can be attributed to the myriad benefits spanning from tax incentives to 100% foreign ownership.    That said, since Free Zones are governed