UNITED ARAB EMIRATES
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On 1 September 2020, a Cabinet Decision was issued to allow temporary VAT zero-rating for the supply and importation of certain medical supplies.
The Economic Substance Regulations (ESR) came into effect in April 2019. The regulations included deadlines for businesses to make certain notifications and year-end reports.
Balanced growth takes global revenues over US $10 billion BDO’s clear strategic approach to the COVID-19 business recovery process has resulted in balanced growth across the board, with global revenues reaching US$ 10.3 billion, together with a 3.3% increase in headcount 7.8%* increase in global...
A public clarification issued by the Federal Tax Authority suggests that Owners Associations and Management Entities for properties in the Emirate of Dubai should check their VAT status to ensure they are in compliance with the Law.
The Abu Dhabi Judicial Department has issued a resolution to establish a court specialising in money laundering and Tax Evasion. It has been emphasized that the establishment of this Abu Dhabi Special Court will support the UAE’s efforts to combat such crimes, persecute perpetrators and reinforce...
This article describes the requirements of accounting standard regarding classification of the liabilities as current or non-current.
The UAE Ministry of Finance (MoF) has announced the ESR Filing Requirements and Deadlines along with the relevant templates for ESR notification and ESR report.Key takeaways and highlights from the notice published by the MoF are:
"The greatest danger in times of turbulence isn't the turbulence, it is to act with yesterday's logic". Peter Druke.
On 24 August 2020, the UAE Cabinet published Cabinet Decision No. 58/2020 on the Regulation of Procedures Related to Real Beneficiaries (the “New Cabinet Decision”). This Decision requires companies licensed or registered in the UAE (except partly or wholly owned Local or Federal government and...