by Danissa Guotana | Jun 8, 2023 | Business, ESG
ESG refers to the three key areas that companies should consider when evaluating their overall impact on society and the environment. Let’s take a closer look at each of these components: Environmental: This aspect focuses on a company’s environmental...
by Danissa Guotana | Jun 6, 2023 | Accounting, Business, Corporate Tax, Other Tax
The UAE has issued rules on whether income from real estate investments is subject to corporate tax in the country. The Ministry of Finance announced the rules in a cabinet decision, which clarifies rules on property across the United Arab Emirates. It outlines...
by Danissa Guotana | Jun 1, 2023 | AML, Business
In the first quarter of 2023, the Ministry of Economy imposed fines worth Dh65.9 million on 137 companies operating in the UAE’s designated non-financial business or professions (DNFBP) sector, following an inspection of 840 companies for failing to comply with...
by Danissa Guotana | May 31, 2023 | Accounting, Business, CFO, Corporate Tax, Other Tax
On Tuesday, the UAE Ministry of Finance announced three new around the nation’s corporate tax regime. The decisions, which fall under Federal Decree-Law No. 47 of 2022 on the Taxation of Corporations and Businesses, include various features related to...
by Danissa Guotana | May 31, 2023 | Business, Corporate Tax, Other Tax
The UAE has issued rules governing transitioning of assets ahead of the country’s new corporate tax laws. The decision provides guidance on whether real estate assets will be considered for taxable purposes and how companies can provide an accurate balance sheet when...
by Danissa Guotana | May 25, 2023 | AML, Business
The Central Bank of the UAE (CBUAE) has removed the entire board of directors of an insurance company operating locally and replaced it with a temporary committee of experts for six months. This administrative sanction is imposed in accordance with Article 41 of...
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