The Tax Insider Blog

 Free Zone entities in the UAE have long benefited from preferential tax treatment. However, with the introduction of Corporate Tax, not all Free Zone businesses will qualify for the 0% rate. Qualifying Free Zone Person (QFZP) Conditions: Maintain adequate substance in the Free Zone Earn Qualifying Income only Comply with transfer pricing and documentation rules File annual tax returns and maintain audited financial statements Common Misconceptions: Myth: All Free Zone entities are exempt from Corporate Tax Reality: Only QFZPs earning qualifying income and meeting criteria benefit from 0% rate Legal Reference: Federal Decree-Law No. 47 of 2022, Article 18 Cabinet Decision No. 100/2023 Ministerial Decision 265/2023 Key Challenges: Identifying Qualifying vs. Non-Qualifying Income Structuring transactions to maintain eligibility Risk of disqualification due to minor breaches Why Engage an Accredited Tax Advisor? An experienced advisor helps structure your Free Zone operations to compl...

  The UAE’s Corporate Tax regime marks a significant development in the country's fiscal policy, applying to businesses for financial years starting on or after 1 June 2023. This move aligns the UAE with global tax standards and enhances transparency and accountability in the region. Who is Subject to UAE Corporate Tax? UAE-resident juridical persons (e.g., LLCs, PJSCs, PSCs) Non-resident persons with a permanent establishment in the UAE Natural persons engaged in commercial activities above AED 1 million annual revenue Key Features: 0% tax on taxable income up to AED 375,000 9% tax on taxable income exceeding AED 375,000 Exemptions for qualifying Free Zone entities and government entities Compliance Requirements: Corporate tax registration via EmaraTax Annual tax return filing Maintenance of proper accounting records for 7 years Legal Reference: Federal Decree-Law No. 47 of 2022, Article 11 Key Challenges: Distinguishing between exempt and taxable income Ensuring accurate deductio...

Egypt Is The First Country In Middle East and Africa To Implement E-Invoice This practical manual on E-Invoice can be used as a quick reference guide (QRG) for those who are interested to have the know-how depend on their role, i.e. project managers, business stakeholders, finance managers or unit CFO's. This article is taking the circumstances of e-invoice implemented in Egypt, and it shall cover all aspects of the national project from registration to implementation. What is E-Invoice, how it works, scope and why governments are implementing it? E-Invoice simply is, amending the current paper-based exchange of invoices (sales/purchases) to be digital through a website (usually it is a governmental portal). It works via configuring & mapping enterprise's ERP with E-Invoicing portal through API's (API is short for Application Programming Interface), in simple words, a bridge (see below screenshot). E-Invoice  scope  varies from country to another depend on its regulatio...