Best Corporate Tax Consultants in the UAE 2024 Streamline your corporate tax obligations in the UAE with YUGA Accounting & Tax Consulting , Dubai’s leading tax consultancy. Our expert team provides end-to-end services for tax registration, compliance, and strategic planning, ensuring your business adapts and excels in the evolving tax environment. Let us craft customized solutions for your needs and secure your financial success. Contact YUGA Accounting & Tax Consultancy today !  As a result of the new UAE corporate tax regulations, many businesses are seeking professional consu ..read more

Corporate Tax Return Filing Deadline Alert Timeline : Deadline for filing of First Corporate Tax return is 30th September 2024, if: The Entity is newly incorporated in June 2023 ; and It follows Financial Year / Accounting Period of January to December Penalty Failure to file return within due date : AED 500 Per month (or part of month) for first 12 months and AED 1,000 each month from 13 month & onward; Failure to settle tax : Monthly penalty of 14% per annum; Incorrect Tax Return : AED 500 per month (unless the Person Corrects his Tax Return before the expiry of the deadline) Appli ..read more

The Essential Role of ESR in the UAE: Compliance, Benefits, and Upcoming Deadline in 2024 In a world where transparency and compliance are essential for global business success, the UAE has positioned itself as a forward-looking nation, dedicated to aligning with international tax standards. The Economic Substance Regulations (ESR compliance) serve as a transformative force, reshaping the UAE’s standing on the global stage. By protecting trade partnerships and promoting authentic economic activity, ESR strengthens the UAE’s reputation as a reliable and competitive destination for global inve ..read more

The Essential Role of ESR in the UAE: Compliance, Benefits, and Upcoming Deadline in 2024 In a world where transparency and compliance are essential for global business success, the UAE has positioned itself as a forward-looking nation, dedicated to aligning with international tax standards. The Economic Substance Regulations (ESR) serve as a transformative force, reshaping the UAE’s standing on the global stage. By protecting trade partnerships and promoting authentic economic activity, ESR strengthens the UAE’s reputation as a reliable and competitive destination for global investment. Bef ..read more

AED10,000 Penalty for Late Corporate Tax Registration The Ministry of Finance today announced the issuance of cabinet Decision No. 10 of 2024, amending the schedule of violations and administrative penalties of cabinet Decision No. 75 of 2023 on the administrative penalties for violations related to the applications and businesses. Cabinet Decision No.10 of 2024 will come into effect on march 1, 2024. The Ministry stated that a penalty of AED 10,000 will be imposed on businesses for late registration of UAE Corporate Tax if they fail to submit their Corporate Tax registration applications wi ..read more

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Are you ready for ESR Compliance in September 2024? Are you ready for ESR Compliance in September 2024? ESR Notification for the financial year ending March 2024 are to be filed by 30th September 2024 and ESR Report for financial year ending March 2024 are to be filed by 31st March 2025. The Economic Substance Regulations (ESR) apply to companies and other business entities registered in the UAE, including in the Free Zones, that carry out any of the following Relevant Activities during the financial year: Banking Businesses Insurance Businesses Investment Fund Management Businesses Lease-Fi ..read more

UAE Corporate Tax Registration Application - Fourth Deadline 31st August 2024 As you must be aware that the UAE Corporate Tax Registration application due dates have started from 31 May 2024. UAE Companies (incorporated prior to 1 March 2024) having trade license issued in the month of June, are required to submit corporate tax registration application by 31st August 2024.   UAE Companies incorporated after 1 March 2024 are required to file corporate tax registration application within 3 months of incorporation. For example, the company incorporated on 15th May 2024 would need to apply ..read more

Cost-efficient UAQ FTZ Industrial & Commercial Licenses for Furniture Experts Summary of the Furniture Industry in the UAE The furniture industry in the United Arab Emirates has seen impressive growth in recent years, emerging as a key contributor to the nation’s economy. This flourishing sector includes a wide range of activities, from manufacturing to trading, serving both domestic and international markets. Market Dynamics The UAE’s furniture market is defined by a combination of domestic production and imports. Despite having a strong manufacturing sector, the country heavily depends o ..read more

A Complete Guide to Starting a Restaurant Business in Dubai Do You Have a Business Plan for Starting a Restaurant in Dubai? Are you looking to open a restaurant in Dubai? Here’s a complete step-by-step guide to help you get started. The post A Complete Guide to Starting a Restaurant Business in Dubai first appeared on Audit firm in Dubai UAE |Corporate Tax & VAT Consultants in Dubai | YUGA Accounting ..read more