In 2017, the UAE introduced excise taxation, a distinctive form of indirect tax aimed at specific goods known as ‘excise goods.’ These are typically products that pose harm to human health or the environment. For a product to fall under…
The Crucial Role of Payroll Payroll management goes far beyond just issuing paychecks. It involves calculating salaries, wages, bonuses, and deductions while adhering to tax regulations and legal compliance. Accurate payroll processing not only keeps employees satisfied but also helps…
The UAE’s Ministry of Finance has introduced Small Business Relief as part of its Corporation Tax Law, providing critical support for start-ups and small businesses. This relief, which became effective on June 1, 2023, is designed to alleviate the tax…
Gratuity is a payment made to an employee by their employer upon termination of employment. It is a form of severance pay that is intended to help the employee transition to a new job. In the UAE, the calculation of…
The United Arab Emirates (UAE) has introduced a new corporate tax regime, effective from June 1, 2023. The new regime has a standard rate of 9%, which is one of the lowest corporate tax rates in the world. The new…
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