Registration open- Corporate Tax
FTA opened Corporate Tax Registration FTA is now inviting businesses to register for UAE Corporate Tax, the registration is opened for two type of legal persons: Private Companies including an Establishment. Public Joint Stock Companies. FTA will announce registration of other legal persons later. How to Register: Login to EmaraTax portal, if you do not […]
Corporate Tax in the UAE
UAE has introduced Corporate Tax Law, namely Taxation of Corporations and Businesses, vide Federal Decree-Law No. 47 of 2022. AGX Team is exploring the law . Some of the key points of considerations furnished below: The Corporate Tax (“ CT ”) law has confirmed that it will be applicable for all financial years starting on […]
How Financial Accounting Differs From Managerial Accounting
Financial accounting and managerial accounting are the two major parts of accounting principles. Managerial accounting is the method of selecting, calculating, analyzing, interpreting, and communicating financial data to authorities to achieve the organization’s goals. Financial accounting is the method of recording, summarizing, and reporting the list of transactions and financial activities from business operations over […]
Do you follow Jan to Dec Financial Year
Submission of ESR Notification A notification must be filed if you are a corporate entity or partnership that undertake any of the following relevant activity during the financial year Banking business Insurance Business Investment fund management business Lease-Finance business Headquarter Business Shipping Business Holding Company Business Intellectual property business Distribution and service center business Do […]
ESR Notification due date is June 30th, 2022.
ESR Notification due date is June 30th, 2022. AGX Auditors would like to update its valued clients and partners, ESR Notification in UAE as per Ministry of Finance is due to be filed on of before June 30th, 2022 for the year 2021. We suggest to make a reassessment of ESR applicability on your business, if required take […]
What are the documents required for an audit of a company in Dubai
Proceeding with an audit can be a very tough and time taking process and that is why many companies in Dubai wants to choose a professional auditing company. It is a mandatory requirement for every companies to conduct an audit at regular intervals. What is Audit? This is a question often asked by numerous entities […]
TAX Updates UAE FEB 2022
TAX Updates UAE FEB 2022 UAE Issues Rules on Instalment and Waiver of Administrative Penalties United Arab Emirates . UAE Cabinet Decree No. 105 of 2021 was issued on 28 December 2021, providing new rules for the instalment and waiver of administrative penalties. Requests for the payment of administrative penalties in instalments may be approved […]
UAE to TAX corporate profits
The UAE Ministry of Finance (‘MoF’), on 31st January 2022, announced the introduction of Corporate Tax (‘CT’), which will be effective for financial years starting on or after 1st June 2023. Corporate Tax (CT)is a form of direct tax levied on the net income or profit ofcorporations and other businesses. Corporate Tax is sometimes also […]
SCOPE of Corporate Tax in UAE
The UAE Ministry of Finance (‘MoF’), on 31st January 2022, announced the introduction of Corporate Tax (‘CT’), which will be effective for financial years starting on or after 1st June 2023. The FAQs published on the websites of the MoFand the FTA provide advanced details. The relevant legislation (law and/or regulations) is yet to be published. Highlights […]
UAE to tax corporate profits from next June
% tax rate for taxable income up to Dh375,000 to support small business and startups The Ministry of Finance has announced that the UAE will introduce a federal corporate tax on business profits that will be effective for financial years starting on or after June 1, 2023. Businesses will become subject to UAE corporate tax […]