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Frequently Asked Questions

  • What is the difference between in FZE and FZC?

    FZE – is commonly known as Free Zone Entity which is ideally owned by single shareholder, Where in FZC will be referred for multiple shareholder companies registered in Free Trade Zones.

  • What is VAT Implications in UAE?

    VAT (Value Added Tax) was introduced in UAE from 01st January 2018, with a rate of 5% as a general consumption Tax which will apply on the majority of transactions in Goods and Services.

  • What is a certificate of Tax?

    Certificate of Tax issued to benefit from the avoidance of double taxation agreements concluded by the State.

  • Certificate of Tax issued to benefit from the avoidance of double taxation agreements concluded by the State?

    The applicant must have been a resident of the UAE for at least 180 days. Also an annual lease agreement officially documented by the competent authorities, such as EJARI in Dubai, municipalities in other emirates and free zone authorities must be attached to the application.

  • What are the requirements for companies to apply for this certificate?

    The company must have been established for a period of at least one year. Financial accounts must be audited by an accredited audit firm and attached with other required documents to the application. The audited financial accounts must be prepared by an accredited audit firm. The report must be certified and stamped by the audit firm.

  • What is Tax Domicile Certificate?

    A certificate issued for eligible government entities, companies and individuals to take advantage of agreements of double taxation avoidance on income signed by the UAE.

  • Why has UAE introduced Economic Substance Regulations?

    UAE introduced Economic Substance Regulations to honour the UAE’s commitment as a member of the OECD Inclusive Framework on BEPS, and in response to a review of the UAE tax framework by the EU which resulted in the UAE being included on the EU list of non-cooperative jurisdictions for tax purposes (EU Blacklist). The issuance of the Economic Substance Regulations on 30 April 2019 (the Regulations), and the subsequent release of the Guidance on the application of the Regulations on 11 September 2019, was a requirement for the removal of the UAE from the EU Blacklist on 10 October 2019. The purpose of the Regulations is to ensure that UAE entities that undertake certain activities (see question 4) are not used to artificially attract profits that are not commensurate with the economic activity undertaken in the UAE.

  • Who needs to file an economic substance return and by when?

    Only Licensees that earn income from a Relevant Activity during the relevant financial period and that are not exempt from the Regulations are required to demonstrate economic substance in the UAE and file an economic substance return. Economic substance returns must be filed within 12 months from the end of the relevant financial period.