by PREMA Team | Mar 21, 2025 | PREMA Insights
Definition of a Related Party (UAE Corporate Tax Law – Article 35) Under UAE Corporate Tax Law, Related Parties include: Individuals related within the fourth degree (e.g., family, including adoption or guardianship). A natural person and a company if the person...
by PREMA Team | Mar 6, 2025 | PREMA Insights
Resident Juridical persons can form tax group for the purpose of corporate tax however they must meet following requirements under Article 40 of Federal Decree Law 47: All members must be resident juridical person Parent company must hold 95% of the share capital or...
by PREMA Team | Feb 20, 2025 | PREMA Insights
The FTA has mandated that all natural persons conducting taxable business activities must register for Corporate Tax by March 31, 2025. Failure to comply will result in an administrative penalty of AED 10,000. Source:...
by PREMA Team | Feb 5, 2025 | PREMA Insights
The Federal Tax Authority (FTA) has provided guidance on the VAT treatment of cryptocurrency mining, particularly activities using the Proof-of-Work mechanism. This clarification aims to outline how VAT applies to mining activities in different scenarios. Key Points...
by PREMA Team | Jan 20, 2025 | PREMA Insights
In the UAE, businesses can reduce their taxable income by deducting certain expenses. However, not all expenses qualify for deductions under the Corporate Tax Law. The rules are designed to ensure that deductions apply only to legitimate business expenses while...
by PREMA Team | Jan 6, 2025 | PREMA Insights
The UAE Corporate Tax regime includes several exemptions to prevent double taxation and align with international tax practices. These exemptions are designed to ensure fairness and simplicity while maintaining compliance with global standards. Purpose of Exemption...
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