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Helpful articles

Navigating Trade Name Registration and Compliance in the UAE's RAKEZ Free Zone

Selecting a suitable trade name is crucial when establishing a company in the Ras Al Khaimah Economic Zone (RAKEZ) Free Zone. This article delves into the essential guidelines for trade name registration and compliance in RAKEZ.
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Unlocking Opportunities in the UAE Mainland for Free Zone Entities

This comprehensive guide empowers free zone companies in the UAE to navigate the regulations and leverage strategic options to successfully distribute and sell their products and services across the broader UAE mainland market.
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Choosing the Right Business Setup in the UAE: Free Zone, Mainland, or Freelance Permits

Aspiring to establish your business in the thriving UAE market? This guide equips you with the knowledge to navigate three key business setups - Free Zone, Mainland, and Freelance Permits. Each option offers unique advantages and considerations, empowering you to make an informed decision for your entrepreneurial journey in the UAE.
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A Guide to understanding UAE Legal Structures

Choosing the right legal structure, from the options like - Free Zone LLCs, mainland LLCs, and branch offices is vital when starting a business in the UAE. This guide outlines key features of each model to help entrepreneurs pick the right one based on ownership, tax benefits, liability protection, and business goals.
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How to register for VAT in my eServices Account on EmaraTax Portal

The United Arab Emirates implemented a value-added tax (VAT) system in 2018. Businesses must register for VAT if they exceed or anticipate to exceed the AED 375,000 threshold within a 12-month period. Failing to register for VAT when liable can result in penalties and other legal consequences. This guide explains VAT registration eligibility, steps to register, and what happens after approval.
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Appointing a Tax Agency for a Taxable Person in the UAE: A Comprehensive Guide

A step-by-step guide to legally appoint a registered tax agency on the Federal Tax Authority portal in the UAE. Learn how to add an authorized tax professional to your account to assist with tax compliance, returns, payments, audits, and other critical tax matters.
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Simplifying your UAE Corporate Tax Registration: A Step-by-Step Guide

The United Arab Emirates (UAE) implemented corporate tax in June 2023, requiring businesses to register and comply with the new regulations. This registration process can seem daunting, especially for those new to the UAE tax system. To simplify things, This article guides you through the process of registering for corporate tax on the EmaraTax portal, the official platform for tax administration in the UAE.
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How to Reset Your eServices Account Password for EmaraTax Login

This guide outlines the steps for resetting your EmaraTax password, applicable if you already possess an existing FTA account. Upon migrating your details to EmaraTax, you'll be prompted to create a new password during your initial login.
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Creating a Taxable Person Profile: Your Essential Guide to Becoming a Taxable Person

"Ready to tackle taxes in the UAE? Let's make it easy! Whether you're running a business or freelancing, becoming a taxable person is simpler than you think. Follow along as we guide you through the steps, from logging into the EmaraTax Portal to creating your profile.
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How to Create an eServices Account on the FTA - EmaraTax Portal

Creating an account on the FTA eServices portal is a straightforward process that enables users to manage their tax obligations conveniently. Here's a complete guide to creating an eServices account on the EmaraTax Portal.
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Understanding VAT Implications for Recharges, Reimbursements, and Disbursements in the UAE

When VAT-registered, managing costs on behalf of clients becomes pivotal, impacting your VAT registration threshold and subsequent payments. The Federal Tax Authority (FTA) categorizes these expenses into three distinct types: Recharges, Reimbursements, and Disbursements, each with its unique VAT treatment.
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Understanding Your First Quarterly VAT Period in the UAE - Determining your VAT Period start and end dates

Wondering about the start and end dates for your first Quarterly VAT filing period? Worry not! In this article, we shed light on how the Federal Tax Authority (FTA) determines your first VAT period, making it easier for you to stay compliant with VAT regulations.
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How is the Cost of Goods Sold Figure Calculated with Full Inventory Tracking Setup in Zoho Books?

The calculation of the Cost of Goods Sold (COGS) figure in Zoho Books depends on the inventory management system you have in place. There are two common methods: periodic inventory process and perpetual inventory process.
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What are Economic Substance Rules and what do I need to do to comply in the United Arab Emirates?

Economic Substance Regulations aim to ensure that businesses operating in the UAE demonstrate economic substance and do not engage in harmful tax practices or artificial profit shifting. Ensure compliance with the new Economic Substance Regulations (ESR) for activities such as banking, insurance, and investment fund management as explained in this guide below.
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Do export of services count towards the VAT registration threshold in the UAE?

Yes, in the United Arab Emirates the export of services is considered to be Zero Rated, which means that they are still subject to taxation but at a rate of 0%. Consequently, when determining your VAT registration threshold, these export services are included in the calculation.
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Do exempt supplies count towards the VAT registration threshold in the UAE?

No, exempt supplies within the United Arab Emirates do not contribute to the VAT registration threshold. While VAT applies to most goods and services, exempt supplies which are specific goods or services that are not subject to VAT are not included when calculating the VAT registration threshold.
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How to calculate my total taxable turnover for VAT registration purposes in the UAE.

It's crucial to understand the factors that determine your VAT taxable turnover for both voluntary and mandatory VAT registration thresholds. These factors include the value of Standard Rated Taxable Supplies, Zero-Rated Supplies, Reverse Charge Items, and Imports subject to Import VAT. Remember, exempt supplies are not included in the calculation.
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Accountants for UK businesses looking to expand into the United Arab Emirates

Theta 7, a team of qualified accountants and approved tax advisers recognized by the UAE Federal Tax Authority. We are also licensed accountants in the United Kingdom, specializing in providing comprehensive support for businesses looking to establish a presence in the UAE, enabling them to sell to customers in the region, employ staff, and even establish manufacturing facilities.
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Who needs to pay Corporation Tax in the United Arab Emirates & who is exempt?

The businesses on the mainland, free zone companies, and overseas entities need to pay Corporation tax in the UAE. Uncover exemptions for government entities, specific industries, charitable organizations, and non-profit entities, while understanding the conditions for a 0% tax rate for Free Zone companies.
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Are Free Zone companies subject to tax in the United Arab Emirates (UAE)?

It is important to note that Free Zone companies are not exempt from corporation tax in the UAE, but they may qualify for a 0% tax rate. This is an important distinction as all Free Zone companies be required to register for corporation tax with the Federal Tax Authority (FTA) and file returns at least annually.
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Can I Avoid Corporation tax by paying all my profits as a salary in the UAE?

Our answer is – it is not that simple, and the FTA (Federal Tax Authority) are too smart for that one.
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Is Dubai Truly Tax-Free? 

Simply put - Yes and no: There is no income tax on a person’s salary, wages, bank interest, dividends, or capital gains in Dubai, however, from June 2023 corporation tax was introduced
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When considering tax rate thresholds, how is UAE corporate tax calculated?

If a company has a taxable profit of 400,000 AED, the calculation will be (375,000 AED x 0%) + (25,000 AED x 9%) giving a tax bill for the period of 2,250 AED.
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Taking my clients out for drinks or dinner? How it works in the eyes of the UAE Federal Tax Authority

Most jurisdictions now restrict or disallow client entertainment expenses, and the UAE is no exception to this. When you take a client out for dinner or drinks, or even paying for a joint golfing trip, this is client entertainment. You can indeed pay for this type of expense via the business, and it is still legitimate to do so.
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Theta 7 - An Online Accounting Firm in the United Arab Emirates

Spondoo, a leading online accounting firm, has launched Theta 7, its new branch in the United Arab Emirates. Theta 7 is an online accounting firm that offers a range of accounting services to businesses in the UAE, leveraging technology to offer accurate, timely and cost-effective solutions. With its launch in 2023, Theta 7 is set to revolutionise the accounting industry in the UAE.
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Information provided on the site is merely guidance that may change in line with UAE law and regulations. Users must not consider this to be financial advice or their sole resource when making any financial decision. Theta7 is a trading name for THETA 7 Accounting & Bookkeeping L.L.C, an authorised & licensed accounting firm under the Ministry of Economy and the Federal Tax Authority of the United Arab Emirates.
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