VATP041 Replaces VATP036 – What Financial Institutions Need to Know
The Context Banks and exchange houses (collectively referred to as financial institutions) often engage with non-UAE banks using the SWIFT communication system. In this process, international bank charges are incurred, and under the updated guidance where VATP041 Replaces VATP036, these charges now fall under more clearly defined VAT treatment. As
New UAE Corporate Tax Audit Rules: Decision No. 84 of 2025 Replaces Decision No. 82 of 2023
Introduction As part of the UAE’s continuing effort to reinforce fiscal transparency and align with global corporate tax governance, the Ministry of Finance has issued Ministerial Decision No. 84 of 2025. The New UAE Corporate Tax Audit Rules 2025 introduce updated requirements for the preparation and maintenance of audited financial
Interest Deduction Rules under UAE Corporate Tax – What Businesses Must Know
Introduction Interest expenditure is a routine cost for many businesses. However, when it comes to UAE Corporate Tax, deducting such interest isn’t as straightforward. The Federal Tax Authority (FTA) UAE has issued detailed guidance to ensure that interest deductions do not result in base erosion or profit shifting. In this
Participation & Foreign Permanent Establishment Exemptions under Ministerial Decision No. 302 of 2024
Introduction The Ministry of Finance of the United Arab Emirates (UAE) issued Ministerial Decision No. 302 of 2024, which became effective on December 11, 2024. This decision provides comprehensive guidelines on the Participation Exemption and Foreign Permanent Establishment Exemption under Federal Decree-Law No. 47 of 2022 (Corporate Tax Law). This
Decision No. 2 of 2025: The Authority’s Policy on Issuing Clarifications and Directives
Introduction The Federal Tax Authority Decision No. 2 of 2025, effective from 1 March 2025, introduces a structured framework for issuing tax clarifications and directives in the UAE. This decision serves as a crucial regulatory update aimed at enhancing legal certainty, ensuring consistency in tax interpretation, and improving administrative efficiency
Extension of Deadlines for Tax Assessment Review and Reconsideration Requests: FTA Decision No. 1 of 2025
Introduction The Federal Tax Authority (FTA) of the United Arab Emirates (UAE) has issued Decision No. 1 of 2025, outlining the circumstances under which deadlines for submitting Tax Assessment Review Requests or Requests for Reconsideration may be extended. This decision is effective from March 01, 2025. Cases Where Deadline Extensions
