Introduction to Value Added Tax (VAT) in the UAE Value Added Tax (VAT) was introduced in the United Arab Emirates (UAE) through Federal Decree-Law No. 8 of 2017, marking a significant shift in the country’s tax framework. This indirect tax came into effect on January 1, 2018, as part of the UAE’s strategy to diversify … Read more
Introduction to Corporate Tax in the UAE The corporate tax landscape in the United Arab Emirates (UAE) is undergoing significant transformation, particularly following the introduction of Federal Decree-Law No. 47 of 2022. Historically, the UAE has established itself as a global business hub, characterized by its zero percent corporate tax policy for most sectors. This … Read more
Understanding the ADGM Framework The Abu Dhabi Global Market (ADGM) is an international financial center located in Abu Dhabi, United Arab Emirates, established in 2013. Its primary purpose is to create a robust business environment that fosters economic growth while ensuring transparency, professionalism, and high standards of conduct among its financial services sector. A critical … Read more
Introduction to Bounced Cheques A bounced cheque is a financial instrument that has been returned by a bank due to insufficient funds or other issues related to the account from which it was drawn. Within the legal framework of the Emirate of Ajman, the implications of presenting a bounced cheque can lead to serious financial … Read more
Introduction to Bounced Cheques in Dubai Silicon Oasis Bounced cheques are a common occurrence in various financial transactions, and they carry significant implications, particularly in Dubai Silicon Oasis. A cheque is considered “bounced” when it cannot be processed due to insufficient funds in the account of the issuer or because the account is closed. These … Read more
Introduction to ADGM Corporate Tax and VAT The Abu Dhabi Global Market (ADGM) is an international financial center located in the capital of the United Arab Emirates. Established in 2013, ADGM serves as a prominent hub for businesses looking to operate within a dynamic and well-regulated environment. The business ecosystem in ADGM is characterized by … Read more
Introduction to Corporate Tax and VAT in Ras Al Khaimah Ras Al Khaimah, one of the seven emirates in the United Arab Emirates (UAE), has recently undergone significant changes in its taxation framework, particularly relating to corporate tax and Value Added Tax (VAT). The introduction of these taxes marks a pivotal shift in the fiscal … Read more
Introduction to Bounced Cheques in ADGM A bounced cheque is a financial instrument that has been presented for payment but cannot be processed due to insufficient funds in the issuer’s account or because the account has been closed. In the context of the Abu Dhabi Global Market (ADGM), the definition remains consistent with general banking … Read more
Introduction to Corporate Tax and VAT in Sharjah In the emirate of Sharjah, the compliance with corporate tax and value-added tax (VAT) represents a critical aspect of the financial landscape for businesses. Understanding these taxes is crucial for any entity operating within this jurisdiction. The legal framework governing corporate tax in the UAE has evolved, … Read more
Introduction to Cheque Issuance in Ras Al Khaimah The banking system in Ras Al Khaimah, like in the broader United Arab Emirates (UAE), recognizes cheques as a significant payment instrument available to individuals and businesses. Cheques serve as a convenient means of transferring funds between parties and are particularly valued for their ease of use … Read more