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Preparing for an FTA Audit: Documentation, Controls, and Common Pitfalls
The Federal Tax Authority (FTA) has the power to review and audit businesses to verify compliance with UAE tax laws, including VAT, Excise Tax, and Corporate Tax. An FTA audit can be triggered through risk profiling, data analytics, or random selection. Proper preparation is critical to minimise disruption, reduce penalty exposure, and ensure a smooth […]
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Transfer Pricing Documentation in the UAE: Thresholds, Scope, and Practical Challenges
Transfer Pricing requirements under the UAE Corporate Tax regime require businesses to document and justify related party and connected person transactions in line with the arm’s length principle. These requirements align closely with the OECD Transfer Pricing Guidelines and are a critical area of focus for audit readiness. This article explains the documentation thresholds, scope, […]
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UAE E-Invoicing: What Businesses Should Do to Prepare
The UAE is moving towards a nationwide e-invoicing framework as part of its digital tax and compliance transformation. E-invoicing will significantly change how businesses issue, report, and store tax invoices, particularly for VAT compliance and real-time reporting. Although implementation will be phased, early preparation is essential to avoid operational disruption and compliance risks. What Is […]
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VAT Voluntary Disclosures: When Required and How Penalties Are Calculated
Under the UAE VAT regime, businesses are required to correct errors or omissions in previously submitted VAT returns. The Federal Tax Authority (FTA) allows this through a Voluntary Disclosure, which enables taxpayers to rectify mistakes while managing potential penalties. This article explains when a VAT Voluntary Disclosure is required, how it should be filed, and […]
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Free Zone Companies and Corporate Tax: Eligibility, Conditions, and Risk Areas
With the introduction of UAE Corporate Tax, Free Zone companies are required to carefully evaluate their tax position. While certain Free Zone entities may continue to benefit from a 0% Corporate Tax rate, this is not automatic and depends on meeting specific conditions prescribed under UAE tax law. This article explains the eligibility criteria, key […]
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UAE Corporate Tax: Key Compliance Requirements for the First Filing Year
The introduction of UAE Corporate Tax marks a significant shift in the country’s tax landscape. For many businesses, the first filing year is the most critical, as it establishes the foundation for future compliance, audit readiness, and risk management. This article outlines the key compliance requirements businesses must address during their first UAE Corporate Tax […]
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