Author: Riaz Begum
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New Amendments in UAE Family Foundations, Unincorporated Partnerships, and Foreign Partnerships
The Ministry of Finance, UAE has revised Decision No. 127 of 2023 through Ministerial Decision No. (261) of 2024 while bringing amendments related to Family Foundations, Unincorporated Partnerships and Foreign Partnerships in line with the Federal Law No. 47/2022 regarding the Business Corporate tax of UAE. The objective is to…
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UAE Corporate Tax Reform: New Benefits for Partnerships and Foundations
Ministerial Decision No. (261) has been revised in the UAE to cover Unincorporated Partnerships, Foreign Partnerships, and Family Foundations, ensuring compliance with Federal Decree-Law No. 47 of 2022 on Corporate Taxation.The tax changes introduce new measures to offer advantages on domestic and international businesses while ensuring the administrative burden of…
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Impact of UAE Tax Laws on Family Foundations and Partnerships
The Ministry of Finance, UAE has revised Decision No. 127 of 2023 through Ministerial Decision No. (261) of 2024 while bringing amendments related to Family Foundations, Unincorporated Partnerships and Foreign Partnerships in line with the Federal Law No. 47/2022 regarding the Business Corporate tax of UAE. The objective is to improve…
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The Impact of Corporate Law on Educational Institutions: Striking a Balance between Profitability and Purpose
The rise of corporate tax influence in UAE’s education sector brings both opportunities and challenges. While it encourages efficiency, innovation, and access to capital, there are concerns about commercialization, mission drift, and academic freedom. Striking a balance between profitability and purpose is crucial, along with emphasizing social responsibility to ensure…
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UAE Corporate Tax and Universities:
Non-profit organizations, including universities, play an indispensable role in augmenting governmental efforts to foster economic and social development. Consequently, they are deemed partners in advancing welfare activities, and their tax exemptions are intended to ensure that the forgone revenue is effectively utilized to achieve the nation’s developmental objectives. On the…
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M/s Ruby Steel Corporation (Pvt.) Limited. Versus Federation of Pakistan & Others.
Failure to payment of Advance Tax under section 153 of Income Tax Ordinance, 2001, the taxpayer failed to discharge his liability therefore, FBR can take account the facts regarding suppression of sales/stock with lawful authority. Ms Ruby Steel Vs FOP download1.fbr.gov.pk:Docs:20226301463840289WritPetitionNo36000-2022-RubySteelCorporation
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Will Shipping Companies Be Subject to Corporate Tax?
Article 25 of the UAE Corporate Tax Law grants a special tax exemption for Non-Resident Persons involved in operating or leasing ships and aircraft used in international transportation, along with their associated equipment. In the ever-evolving landscape of international business, tax regulations play a pivotal role in shaping the operational…
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Taxable Income Under UAE Corporate Tax law
UAE introduces adjustments and guidelines for taxable income calculation under Corporate Tax Law. The Corporate Tax Law has enhanced the importance of adjustments for accurate tax calculations in specific scenarios. It also described the implications and significance for businesses operating in the UAE. Adjustments for Taxable Individual Conversion within the…
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The Regulatory Landscape for Wealth Planning Succession and Investment Management in the UAE
The United Arab Emirates (UAE) has taken significant steps to enhance its business and investment climate. In September 2020, the UAE Cabinet of Ministers approved amendments to the UAE Companies Law No. 2 of 2015 through Law No. 26 of 2020. These amendments brought about a major change by lifting…
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Securing Full Custody of Your Child in Pakistan:
A Comprehensive Guide Regarding Child Custody in Pakistan by Riaz Begum Advocate Introduction: Understanding the Importance of Full Custody When facing the challenge of obtaining full custody of your child in Pakistan, it is crucial to have a solid understanding of the legal framework surrounding child custody. This comprehensive guide…
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Understanding the Legal System in the UAE: A Comprehensive Guide for Expats
The UAE legal system is influenced by Civil Law principles, Islamic, Egyptian French, and Roman laws. Sharia law governs social legal issues like divorce and inheritance. Court proceedings and legal documentation are primarily in Arabic. DIFC operates under a common law system to cater to foreign investors. The system’s complexity…
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