UNITED ARAB EMIRATES
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With the on-set of the Corporate Tax (CT) regime in the UAE, each licensee will need to obtain a CT registration and file an annual CT return. A registration option for corporate groups will be to form a CT Group. This allows the group to be covered by a single CT registration and file a single...
Measuring Scope 1, 2 and 3 emissions will be a fundamental requirement in sustainability reporting frameworks, including IFRS Sustainability Disclosure Standards, European Sustainability Reporting Standards and US SEC rules. BDO’s Sustainability At a Glance – The Greenhouse Gas Protocol...
Once it is established that a Person qualifies as Taxable Person, either being a Resident (where global income is subject to tax in the UAE) or a Non-Resident (where UAE sourced or attributable income is subject to tax in the UAE), it will be important to understand how the Taxable Income will...
2022 was a milestone year in the development of sustainability reporting standards. The ISSB, EFRAG and the US SEC all made significant strides in developing their own sustainability standards. Read BDO's 31 December 2022 year-end Sustainability Reporting Update for information on developments by...
The UAE has more than 40 Free Zones spread across the seven Emirates. For many years the benefit of establishing a company with 100% foreign ownership made setting up a presence in one of the Free Zones the number one option for “Doing Business in the UAE”.
BDO has released IFR Bulletin 2023/01 summarising the activities in standard setting by IASB during the year 2022. The Bulletin provides a concise list of standards and amendments that became effective during the last year or will become effective in the coming years. It also provides a snapshot...
With the on-set of the Corporate Tax (CT) regime in the UAE, it is important for any business established outside of the UAE, but operating in the UAE or dealing with the UAE, to evaluate whether the business established outside of the UAE is exposed to creating a Permanent Establishment (PE) in...
Factors such as the COVID-19 pandemic, evolving geo-political risks, energy supply shortages, and inflationary pressures are leading to an uncertain economic environment. There are numerous accounting implications across multiple areas such as going concern assessments, judgements and estimates...
BDO has published the 2022/2023 update to IFRS In Practice - Accounting for Convertible Notes. This publication sets out BDO's views on the application of IAS 32 and IFRS 9 to many complex fact patterns. It also includes a useful practice aid for classifying components of financial instruments...