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On October 20, 2020, the United Arab Emirates Government announced new tax procedures for Federal Decree-Law No17 of 2025. The proposed new procedures will replace existing laws to improve transparency, increase compliance with tax law, and create a uniform procedure across all tax types in the country. These improvements will be implemented on January 1, 2026.   The amendments increase the authority of the Federal Tax Authority (FTA) to enforce compliance with tax laws. They also provide new deadlines and responsibilities that

The UAE’s Finance Ministry announced on October 19, 2023, the release of Federal Decree-Law No. 16 of 2025, which makes significant changes to the VAT Decree-Law No. 8 of 2017. The Decree-Law is officially effective as of January 1, 2026. The Decree-Law builds on previous efforts to modernize and continue the evolving nature of the UAE tax system in accordance with international tax norms. To enhance transparency and improve the administrative burden. As stated in the Ministry announcement,

The UAE’s financial condition will considerably change in 2025, and at the same time, it will put businesses under increased scrutiny regarding Corporate Tax, VAT, Anti-Money Laundering (AML), and Economic Substance Regulations (ESR). Recent audits from the industry have identified an increase in compliance gaps, often stemming from inadequate documentation and a lack of internal controls These businesses are experiencing the same repeating compliance issues: missing invoices, incorrect VAT reporting, inconsistent statutory reporting, and an inability to substantiate account balance assertions

The UAE Federal Tax Authority (FTA) has released Public Clarification CTP007, which explains how Tax Groups should prepare and audit their financial statements under the Corporate Tax Law. What’s a Tax Group? A Tax Group is when two or more related companies are approved by the FTA to be treated as a single taxable person. This allows them to file a single corporate tax return instead of multiple

Dubai, UAE – July 2025 The UAE Federal Tax Authority (FTA) has announced expanded corporate tax compliance requirements for various business structures, as per FTA Decision No. 5 of 2025, issued on May 19, 2025, and effective from July 1, 2025. The updates are part of the ongoing implementation of Federal Decree-Law No. 47 of 2022 on the Taxation of Corporations and Businesses, aimed at strengthening the country’s tax framework

The UAE interest rate will remain unchanged at 5.40%, as announced by the Central Bank of the United Arab Emirates (CBUAE). This follows the U.S. Federal Reserve’s decision to hold its benchmark rate steady. This move reinforces the UAE’s commitment to maintaining financial stability and aligning the UAE’s interest rate with the U.S. dollar peg. It ensures consistent borrowing costs for businesses and consumers. Global and Regional Context The Federal Reserve’s pause comes amid ongoing efforts to balance inflation control

In a major leap toward financial transparency and digital transformation, the UAE Ministry of Finance has officially announced the rollout of the Unified Digital Audit Reporting System (UDARS) — a centralized platform that will become mandatory for all licensed audit firms starting October 1, 2025. This new regulation is designed to strengthen the accuracy, integrity, and traceability of financial reports filed across the UAE. Key Features of UDARS: ✅ Mandatory Filing Portal

• afs_admin
• 31.05.2025
• News

The UAE is shaking up its corporate tax landscape, and businesses must be ready. In a bold move to align with global tax standards, the UAE is introducing a minimum 15% corporate tax for large multinational companies starting in 2025. This change isn’t just about taxes; it’s about the UAE stepping up as a transparent, competitive, and investor-friendly business hub. Why Should You Care? Whether you’re a startup or a multinational giant, these tax reforms

  The UAE is embarking on a significant step towards global tax reforms by soliciting corporate feedback on implementing a global minimum tax (GMT) within the country. The Ministry of Finance (MoF) has opened a consultation period to gather insights from stakeholders, with a particular emphasis on multinational groups operating in the UAE and their associated entities. The consultation, which is open to all interested parties, aims to gather feedback on various aspects related to the implementation of the GMT. These include

  Effective from 29 March 2024, the UAE’s maritime legal landscape is undergoing significant changes with the implementation of the Federal Decree-Law No. 43 of 2023 Concerning the Maritime Law (the “New Maritime Law”). This law marks a departure from the existing framework, governed by Federal Law No. 26 of 1981 (the “Existing Maritime Law”), and brings about several notable alterations impacting shipowners, charterers, P&I Clubs, shipping lawyers, and the broader maritime community.   Ownership and Registration of UAE-Registered Vessels Under the Old Law,