Hari Kalubandi’s Post

#TaxUpdatesTuesday: What if an Individual Has Multiple Business Activities in the Scope of UAE CT? If an individual conducts multiple business activities that fall under the scope of UAE Corporate Tax (CT), they are required to file one CT return that covers all of their taxable business activities. This simplifies compliance by consolidating all relevant income and expenses into a single return. For assistance in managing your CT filing, contact FRFS for expert support. #TaxUpdates #CorporateTax #MultipleBusinessActivities #TaxCompliance #FRFS #BusinessAdvisory #AccountingServices

Scope of Corporate Tax: Corporate Tax will apply to: a) all businesses and individuals conducting business activities under a commercial license in the UAE. b) free zone businesses (The UAE CT regime will continue to honor the CT incentives currently being offered to free zone businesses that comply with all regulatory requirements and that do not conduct business set up in the UAE’s mainland.) c) Foreign entities and individuals only if they conduct a trade or business in the UAE in an ongoing or regular manner d) Banking operations e) Businesses engaged in real estate management, construction, development, agency and brokerage activities.

📢 UAE Corporate Tax Return Deadline Extended The deadline for UAE Corporate Tax return filings has been extended! Businesses now have additional time to ensure compliance, review financials, and file accurately. Don’t miss this opportunity to align with regulatory standards and minimize any errors. #CorporateTax #UAE #TaxFilingDeadline #BusinessCompliance #FinancialPlanning #CorporateFinance #DeadlineExtension #TaxUpdate #BusinessTax #Accounting #Finance

Today the question arise related to the UAE Corporate Tax is. Will a natural person be subject to UAE Corporate Tax on business income earned outside the UAE? The Taxable Income of a natural person is all the income that is derived from the Business or Business Activity they conduct in the UAE. This would include income earned from outside the UAE in so far as it relates to the Business or Business Activity conducted by the natural person in the UAE. #corporatefinance #vat #success #learningeveryday

UAE Corporate Tax (CT) will become effective for many businesses from 1 January 2024, and there are many things to consider to prepare for implementation. These include understanding the CT implications of your legal, financial, operational, planning the people, processes and systems required to comply with the rules. With so many things to consider, this document highlights some of the key areas businesses should prioritise immediately.

#MustKnowMonday with MB&A UAE individuals are subject to corporate tax only if they conduct business within the UAE and their annual turnover exceeds AED 1 million. Wages, personal investments, and real estate investments are exempt. Source: mof.gov.ae Important Note: It is crucial to consult with a tax professional to ensure full compliance with UAE tax regulations, especially for complex business structures and international transactions. Get to know more about the latest update and the Must Knows in business, follow us for more! www.mbacpaco.com +97126719443 #MBandACPAS #MustKnowMonday #UAETaxTips #UAECorporateTax #Compliance #doingbusinessinUAE #UAEtaxation

UAE Corporate Tax Knowledge Capsule 2: **Fines and Penalties**: Any fines or penalties your business incurs due to non-compliance with laws or regulations are not deductible as business expenses. These are considered disallowed expenses. **Compensation**: Compensation paid for damages or losses incurred during the ordinary course of business is generally considered an allowable expense. For instance, payments made for a breach of contract would typically be deductible. #UAE#CT#

Are Individuals in the UAE Facing Corporate Tax Too? 🤔 Shocking news for every resident! 😱 Find out who's really affected and protect your finances. Watch now to uncover the truth! Get in touch with DhanGuard for a proper a guide! 📞 +971 52 288 2376 📩 service@dhanguard.com . . . . . #uaebusiness #businesssetup #uae #businessconsulting #newbusinesses #dubai #corporatetax #corporatetaxuae #taxconsulting #businesssetupindubai

Acceptable Accounting Methods for UAE Tax Accounting, UAE Entities must have to follow these Methods to avoid penalties.

"Will an Individual Be Subject to UAE Corporate Tax on Income from Real Estate?" Follow MASAR CHARTERED ACCOUNTANTS for more updates. For Free Consultancy. We are Always Available for you. info@masaraudit.ae +971 56 442 2333 https://masaraudit.ae/ #corporatetaxuae #ct #uaetax #dubai #uaecorporatetax #taxadvisory #masarcharteredaccountants #realestate #realestateadvice