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
The Ministry of Finance (‘the MoF’) has released an updated UAE Electronic Invoicing Guidelines Version 1.1 (‘E-invoicing guide’/’Guideline’) on 01 June 2026. The key aspects of the updated Guideline are summarized below: Particulars Key Aspects Guidance and... Read More
Following the issuance of Cabinet Decision No. 142 of 2024 (“CD 142”), the Federal Tax Authority (“FTA”) has activated the Domestic Minimum Top-up Tax (“DMTT” or “Pillar Two”) registration functionality on the EmaraTax portal. As the DMTT provisions apply to fiscal... Read More
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