As a proud owner of RNI Consulting, I’ve seen firsthand how outsourcing bookkeeping services can revolutionize the way companies, especially small businesses, manage their finances. Let’s delve into the top 10 benefits that professional bookkeeping services can offer to your business, ensuring that your financial records are in expert hands. 1. Cost-Effectiveness One of the most compelling reasons to […]
RNI Consulting, a leading accounting firm in Dubai, understands the unique challenges and opportunities businesses face in this dynamic environment. Through tailored accounting services, we help businesses not only to survive but to thrive. This blog post explores how partnering with an expert accounting firm like RNI Consulting can transform your business, ensuring financial health and propelling […]
A Qualifying Free Zone Person is eligible for a 0% Corporate Tax rate on its Qualifying Income.
A juridical person who is not a resident person is subject to corporate tax if it either:
has a Permanent Establishment in the UAE; or
derives State Sourced Income (subject to a 0% Withholding Tax); or
earns income from Immovable Property in the UAE
Resident juridical persons
Refers to an entity incorporated or otherwise established or recognised
under the laws and regulations of the UAE or;
under the laws of a foreign jurisdiction but is effectively managed and controlled in the UAE
For VAT purposes, a supply of real estate is treated as a supply of goods. As a result, a supply of real estate involves the transfer of ownership of the real estate, or the right to use the real estate, to another person. Residential Buildings First supply of a residential building The first supply of […]
Identification of a Designated Zone A Designated Zone is an area specified by a Cabinet Decision as being a “Designated Zone”. Although an area might be identified as a Designated Zone, it is not automatically treated as being outside the UAE for VAT purposes. There are several main criteria which must be met in order […]
Article 55(1) of the VAT Law prescribes that input tax must be recovered in the first tax period in which the following conditions are satisfied: a. the tax invoice is received; and b. an intention to make the payment of consideration of the supply before the expiration of six months after the agreed date of […]
First supply of a residential building The first supply of a residential building will be zero-rated for VAT purposes. This means that the VAT incurred on costs relating to the first supply of the building can be recovered in full. The ‘first supply’ includes a supply of the building by either sale or lease, but […]
Where a UAE citizen owns or acquires land in the UAE on which the person builds or commissions the construction of his own residence, he shall be entitled to make a claim to the FTA to repay the VAT on the expenses of constructing the residence. The claim may only be made by a natural […]