Under the UAE Corporate Tax (CT) Law, income derived from a participating interest is exempt from CT. Consequently, both the income from such participating interest and any related expenses are excluded when calculating taxable income for CT purposes. Outlined below... Read More
The UAE Ministry of Finance (‘the MoF’) recently released comprehensive E-invoicing guidelines, underscoring the Government’s dedicated approach to a standardized and timely implementation of new system. The key aspects of the guidelines are summarized below:... Read More
The UAE Cabinet has introduced a Research & Development (R&D) Tax Credit regime under UAE Corporate Tax (‘CT’) Law framework. This credit can be offset against Qualifying Entity’s CT liability and/or Top-up Tax liability. Effective for tax periods commencing... Read More
A lease modification under IFRS 16 is any change in the scope of a lease or the consideration that was not part of the original terms. Key accounting treatment: Scenario 1: Assess if it is a separate lease A modification is treated as a separate lease if: It adds the... Read More
The United Arab Emirates’ Federal Decree-Law No. (11) of 2024 on the Reduction of Climate Change Effects marks a significant shift from policy ambition to enforceable legal obligation, establishing a binding, nationwide regime for greenhouse gas emissions... Read More
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