News Archive 2018 | Page 6 of 9

The federal tax legislation of the United Arab Emirates establishes strict requirements for the maintenance and storage of documentation related to value-added tax (VAT). All companies carrying out VAT-liable transactions in the UAE are required to properly account for such transactions, submit tax returns on time, and ensure appropriate storage of primary and accounting documents...

The economy of the United Arab Emirates is widely regarded as one of the most competitive and diversified in the world. Over recent years, the country has consistently ranked highly in international indices measuring competitiveness, investment attractiveness, and the quality of the business environment...

In certain cases, legislation allows a company to change its jurisdiction of registration without liquidation, provided that such a possibility is expressly permitted by the laws of both the outgoing and the receiving jurisdictions, as well as by the company’s charter and constitutional documents. In such situations, the process is referred to as company relocation or, formally, redomiciliation...

The United Arab Emirates is one of the world’s key international trade hubs, providing access to the markets of the Middle East, Africa, Asia, and Europe. Thanks to its advanced logistics infrastructure, extensive free economic zones, and stable business environment, the UAE remains one of the most popular jurisdictions for registering companies engaged in international trade and re-export activities...

First, let us clarify who is a tax resident. Tax residency refers to an individual or legal entity's affiliation with a country's tax system and determines where income must be declared and taxes paid...