The country’s Minister of State for Financial Affairs, Obaid Al Tayer ,confirmed that UAE government has no intention to increase the current rate of Value Added Tax and Excise tax rate. According to him that there aren’t any studies or any legislation regarding introducing income tax. He pointed, however that the UAE’s Ministry of Finance...

Last January 2018, UAE Government announced the new rule and requirement before applying for work visa. The UAE Coordination Committee approved a Cabinet Resolution issued in 2017 stipulating that expatriates who apply for work visa in the UAE must first obtain a certificate of good conduct. The committee which consist of members represents the relevant...

According to Ministry of Finance, the new tax system in UAE will bring positive impact and development in the country. Younis Haji Al Khoori, Under-Secretary at the Ministry of Finance, said that UAE is keen to implement an effective tax system that considers the country’s future direction and protects its economic attractiveness and competitiveness. The...

Start of 2018 and businesses in UAE already levied VAT rate 5% to most goods and services. Consumers usually bear the cost and establishment collect and will report the collection to the Tax Authorities. There may be some some exemptions and the following are: VAT will be charged at 0% in respect of the following...

The UAE authorities recently announced that all expatriate must obtain a Certificate of Good Conduct issued by either the home country or the country where they lived for the last five years. The new rule will take effect from February 4, 2018. The certificate must be Notarized and Attested prior to submitting the work or...

Depending on your business to open, activities and location, here are some key points or advantages in company formation in Mainland. There are two options for business setup in UAE: Article 1 It allows to conduct business in all UAE – Having business in the Mainland, you are able to trade with other businesses anywhere...

Businesses will be responsible for carefully documenting their business income, costs and associated VAT charges. Businesses that meet the minimum annual turnover requirement (as evidenced by their financial records) will be required to register for VAT. Businesses that do not think that they should be VAT registered should maintain their financial records in any event,...

Setting up a business in UAE has 6 incorporation types. 1. General partnership-This type of company incorporation in Dubai is available to UAE nationals only. 2. Limited partnership- This type of company incorporation in the UAE is also known as Partnership in Commendams and It is made up of two types of partners: General partnership...