Business Setup Consultant in UAE

  As part of the UAE’s evolving tax framework, the  Federal Tax Authority (FTA)  has released detailed guidance on the  tax treatment of Family Foundations  under the  Corporate Tax Law  (Federal Decree-Law No. 47 of 2022) . This is a significant development for high-net-worth families, estate planners, and legal advisors seeking to manage wealth across generations while remaining compliant with UAE tax laws. What is a Family Foundations? A  Family Foundation , as defined in the Corporate Tax Law, refers to any  foundation, trust, or similar entity  established for the benefit of specific individuals or public benefit entities. It is primarily used for asset protection, succession planning, and charitable giving. Importantly, it can be  domestically or internationally established , as long as it meets the criteria under  Article 17(1)  of the Corporate Tax Law. These entities are often formed under free zones like  DI...

  Accounting firms in UAE  plays a crucial role in helping businesses to navigate the region’s dynamic financial landscape.   Accounting and bookkeeping companies in UAE   offers a wide range of services, including bookkeeping, financial reporting, VAT compliance, auditing and strategic financial planning. Professional accounting support is essential for the businesses to maintain compliance and optimize their financial performance, with in Dubai’s stringent regulatory environment and evolving tax landscape. Reputable firms employ certified accountants and leverage advanced accounting software to provide accurate and timely insights, helping businesses to make informed decision making.  Whether catering to startups, SMEs or large corporations,  Accounting and finance experts in UAE  provides the integral support to maintain financial health and sustaining This blog will share the common mistakes which must be avoided while choosing the best accounting ...

On 28 th  April 2025, Federal Tax Authority (FTA) have issued VAT public clarification (TAXP042) on value of supply under Barter Transactions Barter Transactions:  Taxable persons receive monetary consideration for the supplies they make but consideration may also be received in the form of goods or services, i.e. non-monetary consideration. Transactions which involve the exchange of goods and/or services, are known as barter transactions. Barter transactions involve at least two supplies, i.e. each party makes a supply to the other. Such supplies are subject to the general VAT rules, nevertheless, special valuation rules apply Public clarification TAXP042 :  Underlying clarification explains the principles to determine the value of supply for the non-monetary part of the consideration. The following principles apply The market value of a supply of goods or services is the monetary consideration the supply would generally achieve if supplied in similar circumstances at th...

  Issued by: Federal Tax Authority (FTA), United Arab Emirates Purpose of the Initiative To support the UAE business sector by offering relief from administrative penalties. Encourages timely compliance with Corporate Tax registration and filing obligations. Waiver Conditions Taxable persons  must  submit their Corporate Tax registration application  within  7 months  from the end of their  first tax period . Exempt persons  must  submit their annual declaration  within  7 months  from the end of their  first financial year . Who Is Eligible? Businesses  required to register  for Corporate Tax but have  not yet submitted  their registration application. Businesses that  incurred a penalty  due to  late registration  submission. How to Apply Submit the required registration application and tax return (or annual declaration for exempt entities) via the  EmaraTax platform . Ensure ...