The Federal Tax Authority has issued Corporate Tax Public Clarification CTP010, confirming that Connected Person analysis under Article 36 must focus on substance and actual authority, not job titles alone.
Digital assets are at the core of the future of finance. One digital asset class that sets itself apart as an island of stability in a sea of volatility is stablecoin. Stablecoins are now increasingly linked to cross-border remittance traffic, to management of corporate treasury operations, and to payments of all types. This article will attempt to explain a number of these developments and highlight the ways that Grant Thornton can help you plan for the future and implement your design.
Set up and run your UAE business with one end-to-end team, from company formation and visas to accounting, payroll and HR advisory.
In our September edition of GT’s Monthly Tax Newsletter, you can read the latest news updates affecting Indirect Tax, International Tax, and Transfer Pricing in the UAE and across the Middle East Region.
The Federal Tax Authority introduced a Special Refund Scheme in 2020 to reimburse VAT paid on goods and services for official participants in Expo 2020.
In our August edition of GT’s Monthly Tax Newsletter, you can read the latest news updates affecting Indirect Tax, International Tax, and Transfer Pricing in the UAE and across the Middle East Region.
Grant Thornton UAE is pleased to present our annual Internal Control over Financial Reporting (ICFR) Benchmarking survey regarding compliance with UAE Insurance Authority Circular No. 21 of 2019 in the UAE Insurance Industry.
Read this month’s Hospitality Newsletter where our team of experts have gathered updates and shared insights on the UAE and GCC’s Hospitality landscape. Explore the updates affecting Indirect Tax, International Tax and Transfer Pricing.
In this paper we explore Trade-Based Money Laundering in further detail focused in particular on the December 2020 FATF publication “Trade-Based Money Laundering, Trends and Developments”* and provide guidance to Financial Institutions and other entities on how to assess, mitigate, identify and report the financial crime threats arising from the global trade system.
The UAE’s recent changes to its commercial law allowing 100% ownership to non-UAE nationals for mainland businesses, is a testament to the country’s commitment to encourage foreign funding and economic diversification.
Learn about the latest updates in Tax, Indirect Tax, and International tax in the UAE and GCC Region.
In this tax alert, our specialists, Steven Ireland and Muhammad Bhagat clarify the annual reporting requirements for all entities classified as Financial Institutions for FATCA and CRS Reporting (including the filing of Nil Returns) as stipulated within the regulations.
Learn about the latest updates in Tax, Indirect Tax, and International tax in the UAE and GCC Region.
Learn about the latest tax updates, concerning VAT and customs in the UAE and GCC region.
Grant Thornton UAE audits the operations and processes of more than 80 hotels every year. Based on our observations while performing such internal audits, we summarise here below 5 of the most common emerging issues that have been recorded.
Learn about the latest tax updates, concerning VAT and customs in the UAE and GCC region.
Learn about the latest updates in Tax, Indirect Tax, and International tax in the UAE and GCC Region.
The UAE hotel sector has been increasingly overestimating the market demand over the past few years and as such, has been suffering from an oversupply of hotel keys.
This article explains the agency concept under VAT along with the VAT treatment and processes to be followed to ensure appropriate compliance. The concept is different from ‘tax agency’ under VAT. A tax agent is a person registered with the tax authority who is appointed on behalf of another person to represent him/her before the authority