NewsCorporate Income Tax - FAQs Overview What is Corporate Tax? Corporate Tax is a form of direct tax levied on the net income or profit of corporations and other businesses. Corporate Tax is sometimes also referred to as “Corporate Income Tax” or “Business Profits Tax” in other jurisdictions. Why is the UAE introducing CT? A [...]

NewsIntroduction of Corporate Income tax in the United Arab Emirates The United Arab Emirates has been known as a zero-tax jurisdiction. The UAE implemented Excise tax on 1st October 2017 as being the first type of indirect tax followed by Value Added Tax on 1st January 2018. UAE VAT revenue amounted to over AED 95.4 [...]

المدونةضريبة القيمة المضافة بعد مرور ثلاث سنوات على تطبيقها سعت دول مجلس التعاون الخليجي الى إيجاد مصادر دخل مغايرة حيث كانت دول مجلس التعاون الخليجي تعتمد بشكل كلي على النفط اقتصاديا حيث ان سبب انخفاض أسعار النفط استعدى الى ضرورة إيجاد حلول وطرق اقتصادية والاستعداد لمرحلة ما بعد النفط، وذلك باعتماد عدداً من الاستراتيجيات الاقتصادية [...]

NewsDigital Transformation & Cyber-attacks in the banking sector of the UAE The Central Bank of the UAE issued Circular No. 02/2020 implementing its Major Acquisitions Regulations (Regulations). The purpose of the Regulations is to regulate and supervise major acquisitions being undertaken by banks in the UAE with a view to ensure the soundness of UAE [...]

NewsThe 8 Most Commonly Asked Questions About VAT The UAE introduced VAT, or Value Added Tax, back in January 2018 at the standard rate of 5%. Since then, the country’s taxation outlook has changed significantly. The purpose of VAT is no different than any other tax: it was designed and implemented to raise revenue in [...]

NewsAPPLICATION OF TAXES IN OMAN The Secretariat General for Taxation (SGT) is responsible for implementing and regulating the relevant taxation laws in the Sultanate of Oman. Tax investigation/Audits and assessments are made by the Directorate General within the SGT. Both the SGT and the Directorate General departments are considered branches of the Ministry of Finance [...]

NewsExcise Tax in the UAE: Everything You Need to Know We know how you feel. Sometimes there are just too many taxes to keep track of and understand, but fortunately for you, here at Level.ae, we know and understand every tax type you could possibly think of—or can’t think of. This time around, we’re going [...]

NewsWhat are the Responsibilities of a Tax Agent in the UAE? What are the Responsibilities of a Tax Agent in the UAE? Doing taxes is probably not one of the most exciting activities we can think of when it comes to running our business. Our primary focus is constantly working on bettering our services and [...]

NewsFiling a return for VAT How to submit a VAT return in UAE? At the end of each tax period, VAT registered businesses or the ‘taxable persons’ must submit a VAT Return to the Federal Tax Authority When are businesses required to file VAT returns? Taxable businesses must file VAT returns with the FTA on [...]

NewsHow to Register for VAT in the UAE Applying for VAT Registration is a two-step process. At step 1, you need to create an e-Services account with the FTA and then you need to complete the VAT registration process. Creation of e-Service Account To create an e-service account you need to visit 'https://eservices.tax.gov.ae' and click [...]