Nowadays there is a trend where over 50% of companies globally create a shared service centre and consolidate their Finance and Accounting (F & A) function.
A new Decree Law No. 19 of 2018 has been issued after the announcements made earlier this year on the loosening of domestic ownership restrictions. The new Decree-Law compliments the Federal Law No. (18) of 2017 and amends the Federal Law No. (2) of 2015 on Commercial Companies.
The Federal Tax Authority (FTA) has clarified about VAT applicable on payments considering the type of compensation, which can structurally look like payments made to pay off for some loss, to clear up a dispute, to pay for a penalty or fine or similar transactions.
The Dubai Land Department (DLD) and the Dubai International Financial Centre (DIFC) authority entered into a Memorandum Of Understanding (MOU) on 4th May 2017, to allow specific DIFC companies and other establishments to own land, real estate plots or properties outside of DIFC but within the Emirate of Dubai.
A permanent establishment (PE) is a fixed place of business which generally gives rise to income or value added tax liabilities in a particular jurisdiction. The OECD’s Base Erosion and Profit Shifting working group has issued a revised discussion draft on international corporations’ tactics to avoid permanent establishment status. Towards the end of last year, […]