To Qualify or not to Qualify: Analysis and Tax Advisory on the UAE Free Zone Regime, Interaction with Pillar Two, and Beyond

Liam Purcell April 12, 2023

Our new article delves into the UAE Free Zone Regime and its interaction with the recently introduced Corporate Tax (CT) legislation. Here, we highlight key aspects such as conditions for being considered a Qualifying Free Zone Person (QFZP), transfer pricing requirements to be followed, the potential impact of BEPS Pillar Two on multinational companies, and more.We also discuss here practical considerations for businesses operating in UAE Free Zones, emphasizing the importance of understanding the definition of “Qualifying Income” and compliance with various regulatory requirements.

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Tax exemptions for KSA Regional Headquarters

Thomas Vanhee March 25, 2023

The introduction of the Regional Headquarters Program (“RHQ”) fits in with Vision 2030. This joint initiative between the Ministry of Investment (“MISA”) and the Royal Commission for Riyadh City (“RCRC”), invites global companies with a presence in the MENA region to relocate their regional headquarters to the KSA, promising accessibility to the ever-expanding economy of Saudi Arabia and to be part of the 2030 strategic development goals.

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UAE Corporate tax makes tax structuring and conducting tax due diligence more relevant

Thomas Vanhee March 1, 2023

Are you doing business in the UAE? Make sure you understand the UAE corporate tax laws and how to structure your taxes for maximum benefit. Learn more here.

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Updates on UAE CT Registration

Thomas Vanhee February 2, 2023

Here are updates on the Corporate Income Tax registration procedures in the United Arab Emirates’ (UAE)!

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UAE Tax Residency Criteria

Thomas Vanhee February 1, 2023

The Federal Tax Authority (FTA) issued Cabinet Decision No. 85 of 2022 (dated 2 September 2022), setting new criteria for determining tax residency for juridical and natural persons, and this decision will be effective from 1 March 2023.

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UAE CIT Law: Gathering the pulse of the UAE MoF

Thomas Vanhee January 31, 2023

After the announcement of the introduction of Corporate Income Tax (CIT) and the publication of the Frequently Asked Questions (FAQs) on 31 January 2022, and the release of the Public Consultation Document in April 2022, the Corporate Income Tax (CIT) Law was finally released on 9 December 2022

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Getting your money back from the UAE tax authority

Thomas Vanhee January 20, 2023

The UAE has been considered a tax haven for many individuals and businesses, particularly due to its favourable tax regime. Aside from imposing no tax on personal income and personal assets, it only applies a 5% VAT on goods and services, and as low as 9% corporate tax—one of the lowest rates across the world! This is the reason why numerous entrepreneurs, the wealthy or high net worth individuals are drawn to this country. The government is keen to make doing business and living or retiring here as favourable as possible.

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10 things to know about UAE CIT

Thomas Vanhee January 3, 2023

The UAE Corporate Income Tax has been introduced recently, and even though the law will be effective starting June 2023, it is crucial to get familiar with it and be ready for its implementation on time.

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2022 – Inflation and the Impact of Transfer Pricing for your Business

Liam Purcell January 3, 2023

When we reflect on 2022, one of the defining features has been the marked increase in inflation across the globe. We have seen inflation impact all major economies in 2022, with key markets such as Europe, the United Kingdom and the United States recording their highest inflation rates in decades. Some of the key drivers have been the disruption in global supply chains of both food and energy due to the ongoing conflict in Europe, as well as the over stimulation of developed economies as a result of quantitative easing and other stimulus measures employed by governments to counteract the impact of the pandemic on global markets.

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UAE Publishes Corporate Income Tax Law

Thomas Vanhee December 13, 2022

After the announcement of the introduction of Corporate Income Tax (CIT) and the Frequently Asked Questions (FAQs) on 31 January 2022, and the release of the Public Consultation Document in April 2022, the Corporate Income Tax (CIT) Law has finally been published today (9 December 2022). The UAE CIT Law is Federal Decree-Law No. 47 of 2022 issued on 3 October 2022, and is effective 15 days after its publication in the Official Gazette. The UAE CIT Law was published on 10 October 2022 in issue #737 of the UAE Official Gazette. The CIT law is applicable on business profits effective for financial years starting on or after 1 June 2023.

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To Qualify or not to Qualify: Analysis and Tax Advisory on the UAE Free Zone Regime, Interaction with Pillar Two, and Beyond

Tax exemptions for KSA Regional Headquarters

UAE Corporate tax makes tax structuring and conducting tax due diligence more relevant

Updates on UAE CT Registration

UAE Tax Residency Criteria

UAE CIT Law: Gathering the pulse of the UAE MoF

Getting your money back from the UAE tax authority

10 things to know about UAE CIT

2022 – Inflation and the Impact of Transfer Pricing for your Business

UAE Publishes Corporate Income Tax Law

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