by PREMA Team | Sep 6, 2024 | Business, Corporate Tax
Bahrain said it will introduce a domestic minimum top-up tax for multinational enterprises, effective January 1, 2025, according to the state-run Bahrain News Agency, ensuring a minimum 15 per cent tax rate on profits for companies with global revenues exceeding...
by PREMA Team | Aug 14, 2024 | Corporate Tax
The UAE has issued a clarification on rules for payment of Corporate Tax in the country. The Federal Tax Authority (FTA) confirmed that the first Tax Period of a newly established company, in respect of a juridical person subject to Corporate Tax, is determined...
by Danissa Guotana | Aug 9, 2024 | Corporate Tax
Abu Dhabi: The Federal Tax Authority (FTA) has urged Resident Juridical Persons with Licences issued in June, regardless of the year of issuance, to submit their Corporate Tax registration applications by August 31, 2024. The FTA emphasised the importance of...
by PREMA Team | Aug 9, 2024 | Corporate Tax, VAT
In accordance with Federal Decree-Law No. 8 of 2017 on Value Added Tax and subsequent Cabinet Decisions, specific designated zones in the UAE are treated as outside the UAE for VAT purposes. This status provides significant tax benefits for businesses operating within...
by Danissa Guotana | Aug 1, 2024 | Corporate Tax
Who Should Read This Guide? Anyone who needs to understand how to determine taxable income and calculate corporate tax payable will find this guide useful. It should be read alongside the Corporate Tax Law, implementing decisions, and other guidance from the Federal...
by PREMA Team | Jul 26, 2024 | Corporate Tax
Overview In the UAE, corporate tax is regulated by Federal Decree-Law No. 47 of 2022, also known as the Corporate Tax Law. This law outlines how taxable income should be calculated, including transactions between related parties, which must meet the arm’s length...
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