IMPACT: MBG in UAE Newsletter (August 2023)

In our constantly changing market landscape, staying in the know of the latest regulations and enabling compliance can be a huge differentiator for your business. The August edition focuses on the recent updates about Corporate Tax (CT) regulations around qualifying investment fund, penalties in case of CT violations, Virtual Assets regulations and much more!

• UAE’s Ministry of Finance announces penalties for corporate tax violations

In view of the UAE Cabinet’s new decisions on tax procedures, administrative penalties, and exemptions as released on 1 August 2023, businesses must be agile to ensure tax adherence without compromising on growth.

Ensure your timely financial compliance by registering, filing and paying the Corporate Tax dues without hassle.

Know more:- https://www.mbgcorp.com/ae/insights/uaes-ministry-of-finance-announces-penalties-for-corporate-tax-violations/

• Dubai’s Virtual Assets Regulatory Authority (VARA) issues regulations

Dubai’s Virtual Assets Regulatory Authority (VARA), which is the world’s first, tailor-made Virtual Asset regime, has issued its Virtual Assets and Related Activities Regulations 2023. The Regulations set out a comprehensive Virtual Assets (VA) Framework built on principles of economic sustainability and cross-border financial security.

Know more:-https://www.mbgcorp.com/ae/insights/dubais-virtual-assets-regulatory-authority-vara-issued-regulations-to-address-va-industry-in-the-uae/

• UAE Corporate Tax update: cabinet decision on qualifying investment funds

The latest cabinet decision on qualifying investment funds can help you understand what conditions can help you from tax exemptions.

Learn about the various eligibility conditions that qualify investment funds to be exempted from tax by the Federal Tax Authority.

Know more:- https://www.mbgcorp.com/ae/insights/uae-corporate-tax-update-cabinet-decision-on-qualifying-investment-funds/

For more trending updates visit our insights:- https://www.mbgcorp.com/ae/insights/

Upcoming Events

• Minimizing corporate frauds through implementation of internal controls

Webinar registration link https://us02web.zoom.us/webinar/register/7416933777113/WN_ozZAq_svRf61UzhpfX2kKg

• Business setup in UAE

Webinar registration link https://us02web.zoom.us/webinar/register/7416933777113/WN_ozZAq_svRf61UzhpfX2kKg

• Building agile corporate governance framework

Webinar registration link https://us02web.zoom.us/webinar/register/3316935441730/WN_v1Ri3cJWTPKaFTU8TPgheA

• Corporate tax workshop

Register now! Limited seats on a first-come, first-served basis every Monday at our Dubai office.

Registration link: https://www.mbgcorp.com/ae/corporate-tax-workshop/