The United Arab Emirates (UAE) is known for its dynamic business environment, attracting entrepreneurs and corporations from around the world. However, with the benefits of operating in the UAE come responsibilities, particularly in the realm of taxation. In this comprehensive guide, we’ll explore the intricacies of corporate tax and Value Added Tax (VAT) compliance in […]
The Ministry of Finance has recently announced significant updates to tax regulations in the United Arab Emirates (UAE), introducing a new penalty of Dh10,000 for late registration of corporate tax. This fine, announced through Cabinet Decision No. 10 of 2024, aims to incentivize timely compliance with tax regulations and aligns with penalties for late registration […]
In the dynamic business landscape of the United Arab Emirates (UAE), statutory audits play a crucial role in ensuring transparency, accountability, and compliance with regulatory requirements. At Canzaps, we recognize the importance of navigating the statutory audit process with precision and efficiency. Here’s a comprehensive overview of statutory audits and how they benefit companies in […]
The UAE’s recent implementation of Corporate Income Tax (CIT) has significant implications for businesses, both resident and non-resident. At Canzaps Middle East, we understand the importance of staying informed and compliant in this evolving tax landscape. Here’s a breakdown of key considerations and compliance guidelines: Navigating the UAE’s CIT landscape requires a thorough understanding of […]
Canzaps Middle East presents a comprehensive guide to the Corporate Tax Law (Federal Decree-Law No. 47 of 2022) in the United Arab Emirates, effective from June 1, 2023. Stay informed about corporate taxation with our invaluable insights into registration, exemptions, and compliance. Corporate Tax Registration Essentials: 1. Who Needs to Register: Individuals, both citizens and […]
The UAE Ministry of Finance has issued Ministerial Decision No. (105) of 2023, which clarifies the conditions under which a person may continue or cease to be deemed an exempt person for Corporate Tax purposes. This decision aims to ensure transparency and efficiency in the tax system while promoting business growth in the UAE. Under […]
The UAE Ministry of Finance has announced the issuance of UAE Cabinet Decision No. (49) of 2023, which focuses on the treatment of resident and non-resident individuals involved in business activities for the purpose of the Corporate Tax Law. The decision aims to maintain a clear and competitive tax framework for both local and foreign […]
