Businesses with a financial year of 31 March 2021 are reminded that the due date for the ESR notification is 30 September 2021 if they performed a Relevant Activity during the financial year. This notification would be required even if the same activity was performed and notified for the...

Access to talent is important to any economy, more so for a diversifying one. Growing businesses need specialist providers with scalability to take on small assignments and flexibility to turn around quickly at competitive rates. Equally, individuals need a freelance-friendly environment, whether...

Abdulla bin Touq Al Marri, the Minister of Economy, said: "The amended Commercial Companies Law aims at boosting the country's competitive edge and is a part of UAE government's efforts to facilitate doing business”.

Why ICV is important to youThe In-Country Value programs within the Middle East region will significantly impact upon any sizable entity’s policy towards investment, procurement, talent development and structuring, whether that entity is directly involved in the energy sector. International and...

Significant changes to tax penalties payable in the UAE have been announced, and these are set out in Cabinet Decision Number 49/2021. It also provides an amnesty scheme that will allow the penalties to be reduced by 70%, provided the taxpayer settles the unpaid tax and penalties by 31 December...

The Federal Tax Authority (‘FTA’) has published a Basic Information Bulletin for the automotive sector. The bulletin is brief but includes some important reminders for automotive traders. It confirms the  standard rules relating to VAT, such as rules on registration, invoicing and input tax...

The FTA has published a welcome reminder of the rules of the VAT bad debt relief scheme. This will be helpful to many taxpayers as the way in which the scheme works is sometimes misunderstood.Subject to various conditions, the Bad Debt Relief scheme allows a taxpayer to claim a refund of VAT...

Summary of proposed key amendments affecting entity’s financial statement preparation and disclosure process.

As a part of the basic information bulletin, the Federal Tax Authority has released a short guidance on supplies made by Artists and Social Media Influencers who are earning income in UAE from their artistic activities. Check out a quick round up of the bulletin here.