In order to have consistent flow of revenue from income taxation, many countries in the world have a concept of withholding tax, wherein, every time a payment is made which is taxable under the corporate tax law, the payor of such money is required to withhold some part of such payments, as tax, and deposit … Read more
Under the proposed, United Arab Emirates Corporate Tax Law, UAE Corporate Tax Rate shall be chargeable on Annual taxable income of a business . The rate at which tax shall be applied shall be as under : The United Arab Emirates corporate tax rate, shall be as under : – Tax percentage Income on which … Read more
UAE Corporate Tax – Taxation of Non Residents Introduction Non – Resident’s income will be subject to corporate tax in UAE, only if : – Income of Non – Resident which is sourced in the UAE. ; or Non – Resident have a Permanent establishment in UAE and the income is derived from such Permanent … Read more
Taxation of UAE Residents – Introduction In the UAE, taxation of UAE resident, shall depend on their tax status. Generally, the following person are treated as a UAE resident for income tax purpose – Taxation of UAE Resident : – Legal person incorporated in the UAE; Natural person, engaged in business in the UAE, directly … Read more
Taxation of Investment funds under the UAE corporate tax law – Introduction Investment, external or internal, is an integral part of growth of the economy of every country . The higher the magnitude of investment in a country, the higher is the pace of economic activities and growth in a country. In order to make … Read more
Exemption from UAE Corporate Tax to Charities and Public Benefit Organisations Introduction Generally, charities and public benefit organisations play a vital role in social causes in every country. The reason is that the Government of every country undertakes several activities to benefit the people. Charities and public benefit organisations that work towards the welfare of … Read more
Natural resources, covers resources like oil, natural gas, water and deposits of sand and rocks. Under the UAE Constitution, the right to extract such natural resources is with the particular Emirate, where the resource is found. In view of this, Corporate Tax on Natural resources in UAE will not be applicable on the following income … Read more
Who all are covered under the above provisions ? The following person shall be covered under the category of Government and Government owned entities UAE Corporate Tax, and will accordingly be exempt from UAE corporate tax : – The Federal Government The Emirate Governments Departments, authorities and other public institutions of The Federal Government Departments, … Read more
Chapter 3 relating to Exempt Persons who are not taxable under UAE Corporate Tax Law An exempt person is a person who is not liable to pay Corporate Tax under the UAE Corporate Tax Law. This can be because of automatic exemption or by exemption through an application by the Taxable Person. The provision details … Read more
Taxation of UAE companies depend on whether they are domestic companies or foreign companies. Besides companies, it also covers certain other form of legal person. Let us look at these in detail Which all Legal persons are covered under UAE Corporate Tax ? UAE CT will apply to the following categories of legal person : … Read more