Category: UAE Legal System
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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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CORPORATE TAX IN UAE FOR RESEARCH AND DEVELOPMENT
Unraveling Corporate Tax Incentives for Research and Development in the UAE In the pursuit of innovation and technological advancement, the United Arab Emirates (UAE) has recognized the significance of research and development (R&D) activities. To encourage companies to invest in R&D, the UAE government has implemented corporate tax incentives tailored…
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Evaluating the Impacts of Corporate Tax on the Health Sector in the UAE
The introduction of corporate taxes in the UAE has potential negative impacts on the health sector. These might include a decrease in investment for healthcare infrastructure and research, an increase in patient costs, potential job losses and a shift in corporate focus away from the UAE. Policymakers must therefore balance…
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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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UAE Corporate Tax Law on Educational Institutions
Corporate tax law is a cornerstone of business regulation in the United Arab Emirates (UAE), encompassing a diverse array of corporations, businesses, and incorporated entities. Within this jurisdiction, tax rates fluctuate from 0 to 9 percent. Income levels below 375,000 are tax exempt, whereas earnings exceeding this threshold are taxed…
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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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UAE Corporate Tax: Ministry Issues Decision Specifying the Requirement for Firms Earning Over Dh50 Million
The incorporated entities earning over 50 Million Dirham in UAE is the talk of the town nowadays Regarding the procedures and methods required to submit their audited financial statements.For this purpose, under UAE Corporate Tax Law the cabinet decision No. 82 of 2023 has outlined the conditions for UAE companies…
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Scope of Latest Introduced Free Zone Corporate Tax Regime
The UAE recently introduced a Corporate Tax regime, effective June 1, 2023. Under this regime, Free Zone companies have the opportunity to be exempt from Corporate Tax if they meet specific conditions and earn Qualifying Income. This new tax system applies to all businesses and commercial activities in the UAE,…
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Corporate Tax And Economic Substance Regulations (ESR) In Free Zone, UAE
The United Arab Emirates (UAE) will impose a 9% corporate tax on companies operating within its borders beginning on June 1 of 2023. Companies with profits over AED 375,000 are the target of this tax. While Free Zone companies are initially exempt from this tax, certain conditions must be met…
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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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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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