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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.
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.
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
Learn about the latest updates in Tax, Indirect Tax, and International tax in the UAE and GCC Region.
Learn about the latest updates in Tax, Indirect Tax, and International tax in the UAE and GCC Region.
Learn about the latest updates in Tax, Indirect Tax, and International tax in the UAE and GCC Region.
UAE Ministry of Finance amends Economic Substance Regulations
The financial services sector is one with complex transactions and new products evolving continuously due to various factors including technological developments. These complexities and the progression have a direct impact on the tax landscape, and hence, we have gathered our FS and Tax experts for an insightful discussion on some of the key tax issues revolving around the FS sector in the UAE.
With respect to Economic Substance Regulations, the Central Bank of the UAE has recently announced a notification filing update to be carried out through the Central Bank Services Portal.
Following the introduction of the Economic Substance Regulations ("ESR") in the UAE back in 2019, all the UAE-registered licensees are required to submit an annual notification to their respective Regulatory Authority.
With respect to Economic Substance Regulations, Dubai international Financial Center has recently announced a notification filing update to be carried out through the DIFC Client Portal.
Following the introduction of the Economic Substance Regulations (“ESR”) in the United Arab Emirates (“UAE”), all Licensees are required to submit an annual notification to their respective Regulatory Authority (trade license issuing authority).