Yasser Atiyyeh
New UAE Tax Updates: Participation Exemption and VAT Corrections
The UAE Ministry of Finance and Federal Tax Authority (FTA) have announced significant updates to corporate tax and VAT compliance, effective January 2025. 1. Key Updates on Participation Exemption – Ministerial Decision No. 302 of 2024 The UAE Ministry of Finance has issued Ministerial Decision No. 302 of 2024, replacing Ministerial Decision No. 116 of 2023 concerning participation…
Ensuring FZE Status as a Qualified Free Zone Entity (QFZE)
Navigating the UAE’s Corporate Tax landscape can be challenging for Free Zone Entities. While many expect to benefit from the coveted 0% tax rate, not all entities automatically qualify. Maintaining Qualifying Free Zone Entity (QFZE) status requires meeting specific criteria, including the stringent de minimis threshold. Did you know that exceeding this threshold could strip…
Corporate Tax Groups – Key Highlights of Ministerial Decision 301 of 2024 Repealing Ministerial Decision 125 of 2023
(Effective for Tax Periods Starting on or After 2025) The UAE Ministry of Finance has introduced Ministerial Decision No. 301 of 2024, redefining the rules for Corporate Tax Groups. This landmark decision, effective for tax periods starting January 1, 2025, brings key changes to compliance requirements and operational structures. From simplifying dual residency requirements to…
Input VAT Recovery for Employee Housing and Related Expenses
Understanding the UAE Federal Supreme Court Ruling on Input VAT Recovery for Employee Housing and Related Expenses Recent rulings from the UAE Federal Supreme Court have provided further clarification on the recoverability of input VAT for employee housing and related expenses. The Federal Supreme Court’s ruling emphasizes that businesses can only recover VAT on these…
New FTA Guide: Real Estate Tax Simplified for Investors
New FTA Guide: Real Estate Tax Simplified for InvestorsThe Federal Tax Authority has unveiled a comprehensive guide to corporate tax for UAE real estate investors. The guide clarifies tax exclusions for personal investment activities, including income from leasing, selling, or renting properties. Not every activity qualifies for the exemption, though. Factors like licensing requirements, property…
New Grace Period for UAE Business Tax Records: Don’t Miss Out!
The UAE’s Federal Tax Authority (FTA) has introduced an unmissable grace period for businesses: from January 1, 2024, to March 31, 2025, companies registered for VAT, Corporate Tax, or Excise Tax have a unique window to bring their tax records up to date without facing penalties. This period is a perfect opportunity for businesses to…
New UAE Cabinet decision eliminates ESR obligations from 2023!
The UAE Cabinet has issued Decision No. (98) of 2024, bringing significant changes to the Economic Substance Regulations (ESR). With these updates, the requirement for businesses to comply with ESR has been removed for financial periods starting from 1 January 2023. This major regulatory shift could significantly reduce compliance burdens for many entities operating in…
Planning your Foreign Business Investment and Operations
United States (US) Taxable Person – Planning your Foreign Business Investment and Operations: US Person (Individual or Company) doing business outside the US – Branch Vs Subsidiary Suppose you are a US person starting a business outside the US. In that case, it is crucial that you plan this venture carefully in order to take…
XB4 joins IR as an exclusive advisor in the United Arab Emirates
IR Global, the world’s largest exclusive network of advisory firms is delighted to introduce that Yasser Atiyyeh has joined IR as our exclusive Audit & Assurance Services member in the United Arab Emirates. Yasser’s professional journey began with Deloitte in 1995, marking the start of a remarkable twenty-five-year tenure with Big Four Firms. His final role was as…
New Tax Rules for family foundations, unincorporated partnerships and foreign partnerships
The Ministry of Finance has introduced Cabinet Decision No. 261 of 2024, which updates the tax treatment rules for Unincorporated Partnerships, Foreign Partnerships, and Family Foundations. This decision, aligned with Federal Decree-Law No. 47 of 2022 on the Taxation of Corporations and Businesses, is a significant step towards enhancing clarity and compliance in the corporate…