For a multinational group with offices across several countries, preparing a tax return is rarely a matter of checking one company’s accounts. Finance teams have to understand how entities fit together, where income is earned and taxed, and how figures reported in one jurisdiction connect with information held elsewhere. The UAE’s latest Pillar Two reporting […]

Yes, an auditor can begin reviewing a business with incomplete accounting records, but completing the audit depends on whether sufficient, reliable evidence can be obtained to support the financial statements. Missing invoices, unreconciled bank accounts, incomplete ledgers, or undocumented expenses can delay the audit and affect the auditor’s opinion. For UAE businesses, addressing these gaps […]

A UAE Free Zone licence does not automatically entitle a company to the 0% Corporate Tax rate. To qualify as a Qualifying Free Zone Person (QFZP), a business must satisfy the applicable legal conditions, including maintaining adequate substance, earning Qualifying Income, complying with transfer pricing rules, preparing audited financial statements and staying within the permitted […]

Closing a UAE company involves more than cancelling its trade licence. If the business is registered for Corporate Tax, it may also need to complete a separate Corporate Tax deregistration process with the Federal Tax Authority (FTA). Missing this step can leave the business with ongoing tax compliance obligations and potentially expose it to late […]

A foreign company can do business with customers in the UAE without automatically becoming subject to UAE Corporate Tax. The position changes when its activities create a Permanent Establishment (PE) in the country. Understanding where that line falls is important for foreign businesses with offices, employees, projects, agents or other operations in the UAE. Quick […]

Businesses with multiple UAE companies often face the same question: should each company manage its Corporate Tax obligations separately, or can the companies form a UAE Corporate Tax Group? Under the UAE Corporate Tax regime, qualifying companies can apply to form a Tax Group and be treated as a single taxable person. This can simplify […]