BnC Global ’s Post

2024 started out on an eventful note for the UAE. In the last few months, the country has hosted key global events, fostered solid economic partnerships and faced the wrath of climatic change with torrential rainfall that brought daily life to a grinding halt. Our #QuarterlyNewsletter sets out to offer an all-inclusive insight into the diverse changes taking place in the UAE’s business landscape. This edition covers a range of subjects starting from diverse uses of external audit services to detailed understanding of corporate tax implementation at the start of the 1st tax year to the significance of a whistle blowing policy within the business and reminders on the timeline specified for registration of taxable persons for corporate tax. Further we share a brief glimpse into the people and the culture embodied within the firm be it through our Women’s Day celebration or the meaningful insights discussed by Indian author Chetan Bhagat during his recent visit to the UAE. If any of the topics in the Quarterly Newsletter pique your interest feel free to reach out to us at info@uhy-ae.com and our team will be happy to handhold you as you navigate complex business concerns. https://lnkd.in/gRAMuCte #uhyjames #uhyinternational #audit #uaebusiness #dubaibusiness #quarterlynewsletter #corporatetax

Participation is optional but requires registration for employers. This could alter tax treatment for departing foreign employees, with uncertainty on deductibility of accrued benefits or payments against taxable revenue. For more info- ☎️ +971501843166 📧 info@allianceca.ae 🌐 www.allianceca.ae . . . #alliance #ca #dubai #audits #businessadvisors #dubaibusiness #UAE #entrepreneurship #business #vat #taxagent #taxplanning #vatconsultancy #vatconsultant #charteredaccountant #taxes #muwafaq #muwafaqpackage #corporatetaxuae #corporatetax

Ensure Transparency with CbC Reporting CbC Reporting provides a clear picture of your multinational company's finances to UAE tax authorities. This builds trust, reduces dispute risk, and ensures compliance. Avoid penalties - Partner with HKMS for expert guidance! Contact us at +971 524408330 or visit our website at www.hkmsgroup.com to consult with our tax experts. #cbcreporting #uae #mne #multinationalcompanies #uaecompanies #taxregulations #uaetaxes #taxationservicesuae #hkmsgroup

𝐌𝐈𝐂𝐒 𝐒𝐡𝐨𝐰: 𝐄𝐩𝐢𝐬𝐨𝐝𝐞 𝟕 Today, we’re discussing corporate tax—a crucial topic for businesses in the UAE. We’ll explore how companies can benefit from tax breaks in free zones and the necessary qualifications to take advantage of these incentives. 𝗪𝗵𝗲𝘁𝗵𝗲𝗿 𝘆𝗼𝘂'𝗿𝗲 𝗮𝗻 𝗲𝘀𝘁𝗮𝗯𝗹𝗶𝘀𝗵𝗲𝗱 𝗯𝘂𝘀𝗶𝗻𝗲𝘀𝘀 𝗼𝗿 𝗮 𝗻𝗲𝘄 𝗲𝗻𝘁𝗿𝗲𝗽𝗿𝗲𝗻𝗲𝘂𝗿, 𝘂𝗻𝗱𝗲𝗿𝘀𝘁𝗮𝗻𝗱𝗶𝗻𝗴 𝘁𝗵𝗲𝘀𝗲 𝘁𝗮𝘅 𝗱𝗲𝘁𝗮𝗶𝗹𝘀 𝗰𝗮𝗻 𝗽𝗿𝗼𝘃𝗶𝗱𝗲 𝗮 𝘀𝗶𝗴𝗻𝗶𝗳𝗶𝗰𝗮𝗻𝘁 𝗮𝗱𝘃𝗮𝗻𝘁𝗮𝗴𝗲 𝗳𝗼𝗿 𝘆𝗼𝘂𝗿 𝗯𝘂𝘀𝗶𝗻𝗲𝘀𝘀. Stay tuned with us for more insights on successfully navigating the business landscape in the UAE. 𝗙𝗼𝗿 𝗳𝘂𝗿𝘁𝗵𝗲𝗿 𝗾𝘂𝗲𝗿𝗶𝗲𝘀, 𝘆𝗼𝘂 𝗺𝗮𝘆 𝗰𝗼𝗻𝘁𝗮𝗰𝘁 𝘂𝘀 𝗮𝘁: ✉️ 𝗰𝗼𝗺𝗺𝘂𝗻𝗶𝗰𝗮𝘁𝗶𝗼𝗻@𝗺𝗶𝗰𝘀.𝗮𝗲 📲 +𝟵𝟳𝟭 𝟱𝟬 𝟲𝟭𝟭 𝟳𝟮𝟴𝟴 Shweta Soni Prateek Tosniwal #mics #corporatetax #taxation #taxes #uaebusiness #businesssetup #dubaienterpreneur #finance #uae #duabi

Attention businesses in the UAE! Need expert guidance on tax and VAT matters? Our consultancy services are here to help you navigate the complexities and ensure compliance with UAE regulations. Stay ahead of the curve and optimize your financial strategies with our trusted advisors. Get in touch today! #taxconsultancy #vatservices #uaebusiness

As it stands now, the MoF has launched a digital public consultation on implementing the tax in the UAE. However, the document is only for the “purpose of obtaining input from the relevant stakeholders” and does not reflect the final view of the UAE. “The information stated in this document should not be used or relied upon to make individual or business decisions, as it does not represent the final policy position of the UAE,” the document states. For more info- ☎️ +971501843166 📧 info@allianceca.ae 🌐 www.allianceca.ae . . . #alliance #ca #dubai #audits #businessadvisors #dubaibusiness #UAE #entrepreneurship #business #vat #taxagent #taxplanning #vatconsultancy #vatconsultant #charteredaccountant #taxes #muwafaq #muwafaqpackage #corporatetaxuae #corporatetaxuae

The UAE’s Ministry of Finance (MoF) is seeking corporate feedback on the implementation of a global minimum tax in the country. The consultation is open to all stakeholders, but the MoF is “particularly keen” to hear from the “global community” of multinational groups operating in the UAE, along with their advisors, service providers and investors. According to the ministry, submissions will help inform it on aspects such as domestic implementation issues, including interactions with the UAE’s Corporate Tax (CT) system; ways to minimise compliance costs, while exploring the policy options for potential implementation of the income inclusion rule (IIR), undertaxed profits rule (UTPR) and a domestic minimum top-up tax (DMTT). For more info- ☎️ +971501843166 📧 info@allianceca.ae 🌐 www.allianceca.ae . . . #alliance #ca #dubai #audits #businessadvisors #dubaibusiness #UAE #entrepreneurship #business #vat #taxagent #taxplanning #vatconsultancy #vatconsultant #charteredaccountant #taxes #muwafaq #muwafaqpackage #corporatetaxuae #corporatetaxuae

The UAE Cabinet of Ministers issued Cabinet Decision No. (49) of 2023, on May 8, levying a 9% corporate tax for certain businesses. This decision has been viewed as a strategic move to diversify the UAE's income sources beyond oil while allowing the country to maintain its status as a regional commercial hub. Contact us to know more. Avinash Gupta CA Anu Thomas Uttam Patel CA Monish Mohan FCA #ACCA #TaxFreeUAE #Ucabinet #NoIncomeTaxUAE #corporate #corporatetax #UAEProfessionals #TaxBenefitsUAE #BusinessTaxesUAE #SelfEmployedUAE #UAEFinance #TaxationUAE #DubaiTax #AbuDhabiTax #VAT #dubai🇦🇪

📢 Latest UAE Corporate Tax Guidelines for Free Zone Persons 📢 New Corporate Tax Rates: 1. 0% on Qualifying Income (transactions within free zones and certain activities with non-free zone persons) 2. 9% on Non-Qualifying Income Qualifying Activities Include: 1.Manufacturing 2.Holding shares 3.Ship operation 4.Distribution within designated zones Substance Requirements: 1.Adequate assets, qualified employees, and operating expenses within the Free Zone. Permanent Establishments: 1.Domestic PE taxed at 9%, separate from qualifying income. For more detailed information, check out reports from KPMG and PwC. Stay compliant and make the most of your Free Zone benefits! 🚀 #UAE #CorporateTax #FreeZone #Business #TaxGuidelines #KPMG #PwC

We're thrilled to announce that our esteemed director, CA Nirav Shah, has shared invaluable insights in Gulf News's latest press release on "Invest UAE: How corporate tax compliance is boosting UAE's appeal to global businesses". Discover how his expertise is shaping the future of business in the UAE and beyond! Hemang Agravat | UDIT CHOKSHI | Karishma Killa Bhuwalka | Bijal Thakkar #FAME #GULFNEWS #corporatetax #ctuae #tax #uaect #globalbusiness #futureofbusiness