According to the ministry, the three new decisions aim to enhance the flexibility of UAE’s corporate tax regime and ensure a supportive business environment for all sectors
The authority said in a statement Wednesday that it would now begin an asset recovery process
Organisations that qualify for the exemption include entities that focus on activities such as philanthropy, community services and corporate social responsibility
EmaraTax will enhance the way that taxpayers can access the FTA’s services, pay their taxes and obtain refunds
Tax authorities are aggressively adopting artificial intelligence to generate and preserve taxpayer data
Inspections conducted in the first half of 2022 increased by 104 per cent compared to 4,878 conducted in 2021
Oman has implemented a series of reforms to bridge the budget gap and lower its debt, including the introduction of a 5 per cent value-added tax last year
The country plans to levy a 9 per cent corporate tax from June 2023
The country plans to introduce a 9 per cent federal tax on corporate earnings for the first time next year
The Ministry of Finance has set a rate of 9 per cent for taxable income exceeding Dhs375,000
The bill has now been sent to the Shura Council, the upper house of the National Assembly
The claims are reportedly related to a dispute over how to calculate value-added tax
The treaty is subject to approval by Israel’s parliament and cabinet
The kingdom has no plans to introduce an income tax, Prince Mohammed confirmed
The country also has plans to extend visa-free arrival for up to 30 days for citizens of more than 100 countries
The Abu Dhabi Judicial Department will organise training courses for judges and prosecutors specialising in money laundering and tax evasion
The kingdom hiked its value added tax (VAT) from 5 per cent to 15 per cent in July
However, a new tax of 5 per cent – the Real Estate Transaction Tax – will be levied on property deals in place of the VAT
A consensus seems to be developing that tax regimes need to adopt a global approach to confront challenges posed by technological advances
The kingdom has hiked its VAT rate from 5 per cent to 15 per cent starting July 1
The UAE government levied a 5 per cent VAT on goods and services in January 2018
The steps taken to shore up revenue and rationalise spending are valued at about SAR100bn in total