UAE Tax News





UAE Czech Republic Tax Agreement

May 2024
The updated 2023 double tax agreement, DTA, between the UAE and the Czech Republic entered into force on March 13, 2024.
The DTA which is aimed to boost the bilateral economic relations between the two countries will apply from January 1, 2025.
According to the DTA the tax withholding rate for payments of dividends will be 5%.

UAE Corporate Tax registration

March 2024
The Federal Tax Authority of UAE issues new Decision on specified timeframes for Corporate Tax registration.
The Decision goes into effect on 1 March 2024

UAE Czech Republic Tax Treaty

June 2023
The two countries signed on May 24, 2023 a new double tax treaty, DTA, replacing the previous 1996 DTA aimed to boost the bilateral economic investments.
According to the DTA the tax withholding rate for payment of dividends will be 5%, 10% for payment of royalties.
Interest payment will be taxed only in the recipient's country.

UAE New Corporate Tax

February 2022
The UAE ministry of finance announced on January 31, 2022 that corporate income tax would be imposed on corporate business profits for financial years starting on June 1, 2023.
For annual income under AED 375,000 there will be zero tax. For income exceeding AED 575,000 the tax rate will be 9%.
The tax will not be imposed on dividends and capital gains of qualifying shareholders, subject to terms.

UAE Israel Tax Treaty

June 2021
The UAE and Israel signed on May 31, 2021 a double tax agreement, DTA.
The DTA which follows the Abraham peace agreement between the two countries is expected to enter into force on January 1, 2022.
According to the DTA the tax withholding rates for paying of dividends are 0%/5%.
For payments of interest 5%/15% and up to 12% for payments of royalties.
The DTA is expected to advance investments between the two countries.

UAE VAT Laws

September 2017
The VAT law will apply in the UAE starting January 1, 2018.
The standard VAT rate will be 5% for goods and services.
There will also be zero and tax exempt rates in certain sections.

UAE Slovakia Tax Treaty

May 2017
The double tax treaty, DTA, which was signed in 2015 between the two countries entered into force on April 1, 2017 applying from January 1, 2018.
According to the DTA the tax withholding rates will be zero for dividends and 10% for payments of interest and royalties.

UAE Singapore Tax Treaty

April 2016
The protocol to the 1995 double tax treaty, DTA, which was signed between the two countries on October 31, 2014 entered into force on March 16, 2016 applying from January 1, 2017. According to the DTA dividends and interest will be taxable in the recipient's state of residence.

UAE Japan Double Tax Treaty

June 2013
The United Arab Emirates, UAE, and Japan signed on May 2, 2013 a double tax treaty, DTA.
The treaty includes an exchange of information clause and when in effect withholding tax rates of 5%/10% from dividends, 10% from royalties and 10% from interest.
The tax treaty has yet to be ratified by both countries.

UAE Latvia Double Tax Treaty

March 2012
The UAE and Latvia signed on March 11, 2012 a double tax treaty, DTA, to boost business cooperation between the two countries.
For the UAE the new agreement is the 61st DTA signed so far.



UAE Israel Tax Treaty

June 2021
The UAE and Israel signed on May 31, 2021 a double tax agreement, DTA.
The DTA which follows the Abraham peace agreement between the two countries is expected to enter into force on January 1, 2022.
According to the DTA the tax withholding rates for paying of dividends are 0%/5%.
For payments of interest 5%/15% and up to 12% for payments of royalties.
The DTA is expected to advance investments between the two countries.

UAE's VAT Introduction Postponed

October 2011
The UAE government completed its study on the impact of introducing VAT to the country.
The government expects that introducing the VAT system would take three years once the UAE agrees with the Gulf Cooperation Council which includes six countries on the VAT system.

UAE Kenya Double Tax Treaty

July 2011
The UAE and Kenya signed on July 5 a double tax treaty, DTA, to avoid double taxation on income.
The tax treaty would shape the legal framework for investors in both countries.
UAE has signed so far 57 similar tax treaties.
Source: www.mof.gov.ae

UAE and Venezuela Double Tax Treaty

June 2010
The United Arab Emirates, UAE, and Venezuela signed on June 7, 2010 a new double taxation treaty.
The tax treaty being the first DTA signed by the UAE with a south american country is expected to encourage business cooperation between the two countries.



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