Intellect Chartered Accountants

In January 2022, the UAE Ministry of Finance made a major announcement that has since shaped the future of business operations in the country—the introduction of corporate tax. This decision marks the UAE's shift toward adopting international standards of taxation while supporting its ambition to become a global business hub. Starting from either June 1, 2023, or January 1, 2024, depending on your business’s financial year, businesses operating across the seven emirates will be required to pay corporate tax. This guide breaks down everything you need to know about UAE corporate tax registration 2024 , making it easier for businesses of all sizes to navigate these new regulations. Why Corporate Tax in UAE? The introduction of corporate tax is part of the UAE's broader effort to enhance its global standing, ensure a fair tax environment, and meet international tax standards. For years, the UAE has been a low-tax or tax-free jurisdiction, attracting businesses from around the worl...

Dubai Multi Commodities Centre (DMCC) is one of the most renowned free zones in the UAE, attracting thousands of businesses due to its strategic location, tax advantages, and world-class infrastructure. However, being part of this prestigious free zone comes with the responsibility of maintaining compliance with DMCC’s regulations, particularly when it comes to financial auditing. This is where Approved Auditors in DMCC play a crucial role. Why Businesses Need DMCC Approved Auditors Operating within the DMCC Free Zone means adhering to specific rules, especially concerning financial transparency and accountability. The DMCC mandates that all registered companies must have their financial statements audited annually by DMCC Approved Auditors. This requirement ensures that the businesses within the zone maintain high standards of financial integrity, which is vital for both the company’s reputation and the confidence of its stakeholders. Approved Auditors UAE, especially those with appr...