Zakat vs Corporate Tax in the UAE: What GCC-Based Businesses Need to Know
Quick answer: The UAE does not impose Zakat as a state tax, only federal Corporate Tax applies, at 0% up to AED 375,000 in taxable income and 9% above that, regardless of ownership nationality. Where this becomes genuinely important is for GCC-based businesses operating across the UAE and Saudi Arabia, since Saudi Arabia runs a […]
Corporate Tax Deregistration in the UAE: When and How to Close Your Tax File
Quick answer: Corporate tax deregistration UAE rules require this to be filed with the FTA within 3 months of your cessation date, whether that’s from closing the business, a merger, a sale, or restructuring. It is not automatic, cancelling your trade license does not close your tax file, and the FTA continues treating your business […]
Inventory Reconciliation for UAE Retail and Trading Businesses
Quick answer: Inventory reconciliation UAE is the process of comparing your recorded stock levels against what physically exists, identifying and explaining any gap. For UAE retail and trading businesses, this isn’t just an operational nicety, the FTA specifically identifies inventory and stock-count records among the documentation businesses may need to produce, and unexplained stock discrepancies […]