Introduction to Tax Groups The Corporate Tax Law has introduced Tax Groups as a framework allowing corporations to streamline their tax processes. This guide is designed to provide a straightforward overview of what Tax Groups are, their benefits, and how... The post A Simplified Guide to Tax Groups  appeared first on KGRN Chartered Accountants ..read more

Вводная информация относительно завещания Завещание – это юридический документ, в котором указывается, как вы хотите распорядиться имуществом после смерти. Завещание составляется физическим лицом, которое именуется «завещателем» или «составителем» завещания. Завещатель определяет, кто наследует какое имущество, и кто должен выполнять за... The post Важность наличия завещания appeared first on KGRN Chartered Accountants ..read more

Education Sector VAT Implications The education sector experiences a mix of VAT rates depending on the service type and the institution’s ownership. Notably, private and public school education, excluding higher education, alongside goods and services provided by these institutions, are... The post Understanding the VAT Landscape in Various Industries: A Comprehensive Overview appeared first on KGRN Chartered Accountants ..read more

Introduction This blog serves as a comprehensive guide to the UAE Corporate Tax regime, specifically focusing on tax groups. It aims to provide a clear understanding of the formation, compliance obligations, and changes in membership relating to tax groups. This... The post UAE Tax Group Guide appeared first on KGRN Chartered Accountants ..read more

Introduction Understanding the concept and importance of Corporate Tax in the UAE are vital for natural persons engaged in business activities within the country. This section will provide an overview of the applicability of Corporate Tax to natural persons, highlighting... The post UAE Corporate Tax Law for Individuals appeared first on KGRN Chartered Accountants ..read more

Overview Federal Decree-Law No. 47 of 2022 on Corporations and Businesses (“Corporate Tax Law”) was issued on 3 October 2022 and published on 10 October 2022 in Issue #737 of the Official Gazette of the United Arab Emirates (“UAE”).  The... The post A Comprehensive Guide on Transfer Pricing in the UAE appeared first on KGRN Chartered Accountants ..read more

Even if COVID-19 may have slowed down certain activities, the pandemic also presented a fresh chance for unethical behaviour and led to unintentional breaches in the reporting of financial problems. As a direct result of this, various worldwide regulators and... The post Audit & Accounting alert: Fighting Corruption and Illegal Acts appeared first on KGRN Chartered Accountants ..read more

Amount of Annual Income Subject to Corporate Tax-CD-116 of 2022 0% CT rate Taxable Person Income not exceeding (375,000) shall be subject to Corporate Tax at the rate of (0%) zero percent in the Tax Period irrespective of whether the... The post Tax Assessments and Penalties: UAE Corporate Tax Law appeared first on KGRN Chartered Accountants ..read more

Caculating Corporate Tax liability Corporate Tax Reliefs Transfer of Tax Loss–(Article 38) Tax loss can be offset against taxable income of another person if: Tax Return To complete a tax return for CT folloing information will be included: a) The... The post Caculation of Corporate Tax liability & Reliefs appeared first on KGRN Chartered Accountants ..read more

Deductible Expenses–(Article 28) Interest Expenses Entertainment Expenditure –(Article 32) 50% of entertainment expenses are deductible. Entertainment include the followings:a) Meals.b) Accommodation.c) Transportation.d) Admission fees.e) Facilities and equipment used in connection with such entertainment, amusement or recreation. Non-Deductible Expenses–(Article 33) Contact... The post What is deductible and non deductible expenses under corporate income tax UAE? appeared first on KGRN Chartered Accountants ..read more