VAT Treatment of Cryptocurrency Mining in the UAE
The growing prominence of cryptocurrencies has raised important questions regarding their tax implications, particularly in the context of cryptocurrency mining. Recognizing this emerging issue, the Federal Tax Authority (FTA) has issued a detailed clarification outlining the VAT (Value Added Tax) treatment of mining activities under the UAE’s taxation framework. Definition
Barter Transactions Under UAE VAT
Barter Transactions Under UAE VAT involve the exchange of goods or services without monetary consideration, which can create complex VAT implications. Recognising this, the Federal Tax Authority (FTA) issued Public Clarification VATP042, outlining key rules on valuation, invoicing, and compliance. This article summarises essential guidance to help VAT-registered entities navigate
VATP041 Replaces VATP036 – What Financial Institutions Need to Know
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 these charges
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
