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UAE – Corporate Tax & VAT

August 5, 2015 1:13 pm

According to recent developments, the United Arab Emirates (UAE) is planning to introduce a new tax in order to increase government revenues. The drafting of new laws concerning both the implementation of Value-Added Tax (VAT) and Corporate Tax is estimated will be completed within the next three months. In line with the Ministry of Finance, […]

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Latest Tax Treaty Amendments in Cyprus

August 5, 2015 1:10 pm

Assessment and Collection of Taxes Legislation The government of Cyprus has recently publicized a draft of amendments it proposes to make to the Assessment and Collection of Taxes Law, priory established in 1978. The state of Cyprus proposes amendments to be made to the specific law in order facilitate the realization and incorporation of agreements […]

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UAE signs FATCA Agreement with USA

August 5, 2015 1:08 pm

The United Arab Emirates (UAE) signed the United States of America (USA) Foreign Account Tax Compliance Act (FATCA). This means that the UAE has agreed to share information regarding the finances of USA citizens based in the UAE. The FACTA was initially passed by the USA congress in 2010. The purpose the FACTA was introduced […]

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Temporary Taxation

August 5, 2015 1:07 pm

Based on the Inland Revenue law, every company is required to calculate its taxable income for this year by the end of June. Furthermore, companies are called to make two equal payments on the projected amount of tax on 31 July and 31 December. In cases where the company submits the IR6 declarations and does […]

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