Under the UAE Corporate Tax (CT) Law, gains arising from the sale or disposal of assets are generally subject to tax. However, transitional rules provide relief for certain categories of assets held prior to the commencement of a taxpayer’s first tax period such as... Read More
Under the directives of the Dubai Government, Customs Notices (CN) No 14 and No 15 have been released by the Dubai Customs effective from 21 May 2026. These Notices provide ease to business in payment of import Custom duties through instalments and waiver of customs... Read More
IFRS 3 establishes the accounting and reporting requirements (known as ‘the acquisition method’) for the acquirer in a business combination. The key steps in applying the acquisition method are summarised below: Step 1 – identify a business combination Step 2 –... Read More
The Federal Tax Authority issued updated guidance on the VAT Refund Scheme for UAE Nationals’ new residences on 02 June 2026. The revised guide is effective from 01 January 2026 and expands the list of expense items eligible for VAT recovery by UAE Nationals... Read More
Could Your Investment Be an Associate Under IAS 28? Many businesses assume that significant influence exists only when they hold a majority stake in another entity. However, under IAS 28 “Investments in Associates and Joint Ventures”, an investment may... Read More
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