Mitesh Maithia

The UAE currently has 4,000+ healthcare facilities, its healthcare market is also expected to exceed USD 43 billion by 2030. With the rise in hospitals and private clinics, taxation needs a balanced approach. That's why the government introduced VAT.

VAT in UAE was introduced on 1 January 2018 at a standard rate of 5%, making it one of the lowest VAT rates globally. Now, if you’re selling products or offering services like consulting or marketing, VAT is straightforward - you charge 5% and move on. But not every earning in finance is a “fee.”

I remember sitting with a client a few weeks ago. He runs a decent-sized distribution business in Al Quoz that deals with energy drinks. He was stressed because he had just shipped a large order to a buyer in Saudi Arabia, and it hit him - he had already paid excise tax on those goods when he brought the...

That is where audit reports enter the discussion. However, no blanket rule says every company must submit an external audit report with its corporate tax return. For many businesses, corporate tax filing can be done without attaching an audited financial statement. But the rule does not mean audits have...

Deductible expenses are the expenses that are reduced during the calculation of CT from the gross income whereby taxable income can be calculated. As per the CT regime, the expenses that are incurred as a part of normal business and that are not of a capital nature are deductible.

The carry forward of the tax losses is one such benefit and provision that has been provided under the corporate tax regime, which most businesses are still unaware of. In this blog you can get to know about the rules and benefits of implementing the carry forward of the tax losses regime.

The absence of finance leaders with a flexible set of skills that encompasses technology, strategy, and management has been a long-standing problem in UAE firms, which are now aggressively pursuing their strategies for economic diversification. This has effectively opened a gap for a new standard of fina...

Dubai is known for its tax-friendly rules and regimes, which attract businesses from all over the globe. The businesses are expected to stay compliant with these regulations and to follow all the applicable rules. There can be some circumstances where the businesses or individuals will have disagreements...

The authorities of the UAE have been striving and implementing all the possible strategies, plans, and policies to enhance the transparency of the tax system and to provide a clear and fair insight to the public and taxable entities. The UAE has again issued some major updates regarding the tax procedure...

There are many businesses in the UAE that provide services and deal with offshore clients. Some of the businesses can avail the double tax benefits with the clients of the countries with which the UAE has the DTT, or Double Tax Treaty. KSA is one of the nations with which UAE has the DTT, and hence the b...

The United Arab Emirates is gearing up for the most extensive revision of its financial framework since the implementation of Value Added Tax (VAT) in 2018. A set of critical changes to the main VAT laws and the Tax Procedures Law will take effect on January 1, 2026.

The UAE has been known as the tax-friendly landscape for businesses around the world. The tax framework of the UAE is designed in such a way that businesses established in the UAE can get multiple benefits. Even being stringent with the tax regulations implemented, the UAE has provided multiple opportuni...

The UAE has been implementing all the possible options to enrich itself as the best tax-friendly landscape across the globe. Along with being stringent regarding the tax compliance, the UAE has adopted automation and technology in order to facilitate the taxpayers to file their returns and make the tax p...

Most of the clients have been asking me regarding the procedures and the eligibility to get the TRN for their businesses in the UAE. Some of the entrepreneurs are still confused between TRN and TIN regarding the differences and still do not know if they are eligible to get the TRN. In order to avoid any...

If the businesses follow the regulations and the AML laws issued by the authorities, they can be on the safer side and could avoid critical circumstances. The businesses can easily implement the AML-CFT framework if they follow the key procedures and processes highlighted in this blog.

Recently there has been a major tax framework that has been implemented in the UAE for the businesses operating in the land, starting from the implementation of CT. That is not the case for the foreign banks; as for the banks, there has been another taxation law that has been introduced by His Highness S...

In the past, we talked about "going green" as something separate from finance. But now, working closely with UAE companies, I'm watching the sustainable finance movement unfold, driven by an urgent push to reach Net Zero 2050 and the country's commitment to weaving ESG (Environmental, Social, Governance)...

I still remember the first time a client walked into my office with a double taxation issue. They had already paid tax in one country, and another country was asking them to pay tax on the same income. The frustration they were experiencing was because double taxation doesn’t just drain money; it creates...

When I first started helping UAE businesses with regulatory compliance, goAML always felt like a big, looming checkpoint. Many had heard about it, but very few actually understood what it was, why it mattered, and how to get it done correctly. I believe if you run a company in this country, you owe it to...

Most of the time as a tax expert I come across many situations where I see many businesses struggle to get their payments or may receive notices for penalties due to not including the TRN in their invoices. Most of the businesses are either unaware of where to get the TRN or may not understand the import...

In the UAE, compliance with AML-CFT law is by virtue of Federal Decree-Law No. 20 of 2018, Cabinet Decision No. 10 of 2019 and Cabinet Decision No. 74 of 2020. The regulators have been handing out hefty fines across the board. As of today, approximately 339 million AED have been collected in fines from e...

In the ever-changing world of tax, many individuals and businesses face complicated situations where the enforcement of the law might not be clear. The UAE Federal Tax Authority (FTA), in order to promote compliance and resolve such confusion, has put in place an orderly clarification process. This syste...

Navigating the complications of tax rules can often feel like discovering a maze. Even with hard-working research and professional advice, specific tax cases can be immersed in uncertainty. This is where the invaluable service of "clarification" comes into play, giving the taxpayers a direct channel to a...

When the Federal Tax Authority (FTA) announced the move to mandatory e-invoicing by July 2026, I knew that many of my clients were going to be a little anxious. For some, “e-invoicing” sounds like yet another layer of compliance. Others found it difficult in a business environment that was already comple...

The Federal Tax Authority (FTA) had facilitated VAT refunds for tourists with the introduction of an entirely electronic, tax-free shopping program in the latter half of 2018, hardly months following the UAE's implementation of VAT in January of that same year.Overseas visitors have a paperless, trouble-...

For families and individuals planning to build their dream house, this scheme ensures that they receive back value-added tax on vital building expenses as long as the project meets official specifications. In essence, it translates into you having more money in your pocket, available to spend on building...

When I first heard about the UAE’s announcement of new tax rules for Qualified Investment Funds (QIFs) and Qualifying Limited Partnership (QLPs), my phone did not stop ringing. Clients, colleagues, and even friends in the industry wanted to know what this meant for them. And honestly, I get it. Tax updat...

Previously the UAE has attracted global businesses with its low-tax benefits and open economy. But the global tax scene is changing. And as a business operating in the United Arab Emirates, you may have already noticed a lot of talk around international tax reforms. One of the biggest shifts recently has...

The UAE is a business-friendly hub owing to its advantageous location that connects the East with the West. And so, running multiple businesses in the country is exciting—until tax season rolls around. Since managing taxes can sometimes feel like solving out a complicated puzzle, a question that may occu...

The introduction of the UAE corporate tas in the year 2023 has led to many changes in the economic environment all over the UAE. The businesses meeting the threshold are now expected to be registered under the new regime before it would cause any penalties. The new tax regime has also resulted in more co...

The introduction of corporate tax has resulted in many changes in the tax environment in UAE. When it comes to submission of the CT return, the Federal Tax Authority (FTA) requires a detailed submission of information about the "taxable person" - a natural person (individual) or a legal person (company,...

The UAE has been known for its tax-friendly policies and framework, which made it a tax haven for businesses from around the world. Entrepreneurs and business owners can acquire these benefits in the UAE, whereby they can prosper in the competitive market. The tax-friendly policies have been devised in o...

Running a business is no easy task. There are countless rules and regulations that shape how companies operate and how they handle their finances. It means keeping track of various expenses—from rent and salaries to operations and advertising. But what if some of those expenses are tied to illegal activi...

The Federal Tax Authority (FTA), under the oversight of the UAE Government and the Ministry of Finance, has launched an initiative to waive or recover the administrative penalties. The initiative targets companies and certain exempt entities that failed to comply with corporate tax registration requireme...

Navigating through the intricacies of corporate tax is challenging for companies operating in UAE. Following the implementation of the UAE Corporate Tax (CT) Law, compliance blocks for tax returns necessitate careful assessment. From a compliance and business management perspective, professional assistan...

UAE has been making all the possible moves to make itself one of the best global destinations for the entrepreneurs from all over the world. The strategic location and the tax friendly environment have made it more attractive to the businesses. The compliance to the prevailing legislation is also one of...

As usual, the UAE has been making all the required amendments and adopting all the required measures to make itself a global hub for businesses from around the world. With the motive of boosting the cross-border businesses and strengthening the bond with the other nations, the UAE has entered into Double...

The UAE has been implementing multiple policies and rules with the motive of supporting the business entities in the land. With the motive of ensuring the growth of the businesses and to align with the global regulations and standards, the UAE has implemented the Domestic Minimum Top-Up Tax (DMTT) from 1...

The UAE has been making many changes and amendments in its tax regulations with the motive of making UAE the best place for business around the globe. Once such major amendment regarding the VAT laws relating to the precious metals, stones and jewellery has been made.

The UAE has been known for the tax-friendly legislations and regimes that it has introduced, thereby making it an attractive business landscape for investors and entrepreneurs all over the world. 

Paying taxes on time is any law-abiding citizen’s first duty; it doesn't matter whether you live in your native country or abroad. But paying taxes twice in two countries? Now, that wouldn’t be very financially promising. 

It’s time to get more proactive, because remaining compliant with VAT requirements has become more than a matter of just being on time now; it's about getting the facts and amounts correct. Read below to understand what it entails and how you can steer clear of attracting penalties due to honest errors o...

Corporate tax, like any other tax, causes panic among the business community; it affects mainly start-ups and technology-based companies relying on cash reinvestments and growth speed. Yet in an established economy, corporate tax surprisingly offers potential benefits, mostly indirect ones, that stimulat...

The Cabinet decision applies to businesses and certain categories of individuals subject to the new UAE corporate tax law. It exempts them from previous arrears arising from late registration, subject to a very critical condition: submitting the tax return or annual declaration within seve...

Here in this blog, we will analyze how this corporate tax will affect their operations, profitability, and compliance requirements, which are now of top priority for stakeholders of the UAE's vibrant digital economy.

The businesses in the UAE are expected to provide the sustainable reports, ensuring that there is no drastic impact of the operations of the business on the environment. In this blog, you will be able to understand the importance of sustainability reporting for the businesses in the UAE.

The tax residency certificate is one such legislation that is important for the resident entities and businesses in the UAE, which is required to confirm the individual’s or business’s tax residence in the UAE. The main aim of this certificate is to avoid any double taxation under the treaty that has bee...

A growing number of Dubai business owners ask themselves whether they need to hire a CFO for their company. What are the appropriate indicators for a business to recruit its first CFO services in Dubai? These are important questions. The correct choice will greatly influence how your business expand...

A significant alteration occurred in the UAE through the implementation of Federal Corporate Tax (CT) in recent times. Companies that participate in foreign transactions and wish to evaluate UAE business investments need to understand the adjustments related to CT. The introduction of this new tax system...

The United Arab Emirates (UAE) has announced a new emblem for the Dirham, which promises to enhance the identity of the currency and the economy. The Central Bank of the UAE (CBUAE) informed us that the symbol will be integrated into the UAE's financial and digital payment systems. This will enable bette...

There are certain highlights that are to be considered while the taxable income of an entity is calculated, as it requires strong expertise and knowledge of the regulation regarding the CT. In this blog, we have shed light on the query of whether the service fees paid to the local or federal government a...

Usually, if there is any change in the information related to the tax records submitted to the FTA, it needs to be informed to the authorities within 20 business days from the day of any such changes. If the entities fail to do so, then it would result in penalties and further violations of the regu...

The taxable entities must be aware of the regulations and the criteria in order to avail the exemptions and deductions whereby it could reduce the tax expenses. In this blog, we have shed light on the participation exemption and the conditions that are to be met to be eligible for the participation exemp...

The UAE has been known as one of the leading landscapes for business due to its infrastructure and the business-friendly regulations that have been implemented to support such businesses. UAE authorities have been striving continuously to make the UAE one of the best and most attractive places for conduc...

In this blog, the key highlights related to the UBO regulations have been included, as there are many business entities that are still not compliant with the UBO regulations and not aware of the framework pertaining to it.

Coping with market competition and compliance with the tax regulations might be hectic for the businesses in the UAE, but they can approach professionals like CDA, who can provide them with assistance regarding the regulations. In this blog, we have demystified the complex amendment regarding the service...

The same is for the charities in the UAE; as VAT is a consumption tax, the charities in the UAE must be aware of the implications and the application of the VAT on the activities of the charities. In this blog, we have highlighted the implications of VAT on the designated charity in the UAE. 

The entities registered under the tax regimes can avail themselves of these services and can facilitate easy registration and deregistration, amendments in relation to any tax matters, etc. It is important for such entities to be aware of such services, which are provided by the tax authorities; hence, i...

The United Arab Emirates (UAE), which has always been favorable to business, is getting ready to implement a major tax reform. From January 1, 2025, the standard UAE corporate tax rate for large multinational companies (MNCs) will be 15 percent, while for normal businesses, it will remain at 9...

The UAE’s acceptance of cryptocurrency has led to a massive popularity of cryptocurrencies in the land, and there has been a recent surge in the use, trade, and mining of the cryptocurrencies. Along with that, there have been certain queries regarding the implementation of the VAT over the cryptocurrency...

Businesses established and operating in the UAE are required to be aware of the tax regulations prevailing and the certain tax provisions that can assist the businesses to reduce their tax liability. The UAE has been implementing certain tax reforms with the motive of enabling the business entities to ca...

The UAE has initiated the process to digitalize the invoicing systems by implementing innovation in business transactions and enhancing the transparency of tax filings and returns. The multi-faceted objectives of the implementation and the key highlights of the eInvoicing are included in this blog.

All the business entities operating in the UAE, along with the entities planning to start a business in the UAE, must be aware of the basic tax demography of the land. The introduction of the UAE CT law has made the tax framework of the land more complex. It is mandatory for the businesses to ensure that...

Compliance with the regime is mandatory; otherwise, it would attract penalties and fines, which could affect the reputation of the business. In this blog, we will focus on the UAE corporate tax compliance requirements for the investment funds.

The main objective of the exemption being provided is to avoid the triggering of the UAE corporate tax liability for the foreign investors or foreign investment entity. In this blog, we have highlighted the conditions that are to be met for being eligible for the investment manager exemption un...