Jitendra Gianchandani, Special to Gulf News

Articles from the author

For some free zone firms, opting for tax makes sense

There are structural and operational benefits from choosing to be tax eligible

More updates on UAE's Corporate Tax are coming in thick and fast from the ministry and the Federal Tax Authority. Business owners will need to put in some instant learning to be in sync with the requirements.

UAE companies need to fill out UBO forms by March 31

They must offer full disclosure on their shareholders, and who owns what

All relevant information on company shareholding must be placed in two registers. Companies that fail to do so risk administrative sanctions from the Ministry of Economy.

Knowing the ins and outs of UAE’s ESR laws

Some amendments have been brought in, with exempted categories spelt out

The UAE’s amended ESR (Economic Substance Regulations) has classified entities into ‘licensee’ and ‘exempted licensee’ to carry out relevant activities.

Businesses need a close watch on UAE ESR provisos

Some gaps need filling on what constitutes relevant activity as penalties are heavy

The Economic Substance Regulations spell out relevant activities that would come under the law's scanner.

Businesses must have ‘economic substance’ to back them

Foreign-owned businesses will need to offer more transparency to pass UAE’s ESR benchmark

Businesses licensed to operate in the UAE will need to keep a close eye on the recently crafted Economic Substance Regulations, and keep the deadline for submissions in mind.

UAE businesses need to fast-track new tax rules

Regulations require them to be in full compliance with best international practices

UAE businesses have until June 30 to check their compliance with Economic Substance Regulations.

TRENDING STORIES