Running a Foreign Company from Dubai? Here’s What POEM Means for You
In simple terms, POEM stands for Place of Effective Management. Under the UAE Corporate Tax rules, POEM helps determine where a company is really managed from, especially if it’s not a company officially registered in the UAE but in another country such as the UK or Germany. The following things you should keep in mind […]
Corporate Tax in a nutshell
Since its initial introduction, Corporate Tax has been the talk of the UAE with laws, guides, ministerial decisions and quite a few workshops all happening within the short space of a few months. This blog will help break down everything we know about it thus far as it is important for (almost) all businesses in […]
Payment gateways in the UAE
The most crucial part of any transaction is the payment and with technology advancing everyday the process for accepting payments has changed a few times over the last years. Payment gateways come into play as they provide a “gateway” to accept debit or credit card purchases from customers. This is not only in physical stores […]
Cabinet Decision No. 56 of 2023 on Determination of a Non-Resident Person’s Nexus in the State for the Purposes of Federal Decree-Law No. 47 of 2022 on the Taxation of Corporations and Businesses
Summary: This decision, issued by the Cabinet, provides clarity on the criteria for determining a non-resident person’s connection to the state regarding the taxation of corporations and businesses. It outlines definitions and rules related to immovable property and taxable income. The decision also addresses artificial transfer of property rights and the requirement for non-resident persons […]
What you should know about Direct debit in the UAE
It was recently announced that the UAE Central Bank has approved of a direct debit marketplace making it easier for both merchants and customers to make their monthly payments. Before we look at this any further we need to know, what is direct debit?When you allow for direct debit it means that you give a […]
What you should know about UAE Tax Invoices
As in many other countries, in the UAE there is a Value Added Tax (VAT) charge on most goods and services provided and once your business has exceeded the mandatory registration threshold of AED 375,000 you are required to register for VAT. Thus you become what is referred to as a registrant and now you […]
UAE Insurance for involuntary loss of employment
Starting from 1 January 2023 the UAE introduced Involuntary Loss of Employment (ILOE) Insurance. What is ILOE?ILOE stands for Involuntary Loss of Employment. This unique scheme provides security for employees who lost their jobs due to reasons other than disciplinary action or resignation until they find a new job. Who is eligible for subscription? All […]
Virtual assets in the UAE
Bitcoin, NFTs, crypto, and gaming tokens, we have all heard of these and have a basic idea of what they are, but how can these things be useful to a business and can you use them as a form of payment in the UAE? Not to worry, the following article will clear up everything you […]