His Highness Sheikh Dr. Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah, has signed a new law introducing a 20% corporate tax on businesses involved in extractive and non-extractive natural resources. The initiative aims to strengthen fiscal management and ensure compliance within the emirate’s resource sectors. Extractive companies engaged in oil,…
The Federal Tax Authority (FTA) has issued a reminder to individuals conducting business activities in the United Arab Emirates (UAE) to complete their Corporate Tax registration by March 31, 2025. This requirement applies to those whose business turnover exceeded AED 1 million during the 2024 calendar year or in subsequent years. Failure to meet this deadline…
The UAE Federal Tax Authority (FTA) has provided clear details about the penalties businesses will face if they fail to pay their corporate taxes on time. According to the FTA, businesses that don’t pay their tax by the deadline will be charged a penalty of 14% per year, which is calculated each month from the…
UAE is a marketing and trading center that has earned fame from all over the world. It is the best place for small or large businesses to conduct their operations in the country without any serious limitations. The UAE has done a lot to benefit entrepreneurs, businessmen, and freelancers so that they can prosper in…
The Federal Authority of Identity and Citizenship (ICA) issues the Emirates ID as an identification card for UAE nationals. All UAE nationals and residents are required to have an identity card. You should be aware of the significance of this ID card if you reside in the United Arab Emirates. With the help of Emirates…
The UAE government has introduced a new service named “Fawri” for issuing an Emirates ID. This service has made it easy for residents and citizens to get an Emirates ID in less than 24 hours. The ID usually can be obtained in an average of 7 to 10 days. But with the Fawri service, things…