Blogs

Go for an appeal if the penalty on ESR is raised. Did you successfully submit the Economic Substance Notification & Economic Substance Report of your company to the Ministry of Finance? Did you get any response from the a...

Beneficial Owner Procedures / UBO – Adhering the Deadlines Beneficial Owner Procedures Regulation commonly known as UBO was introduced in the UAE vide Cabinet Decision No. 58 of 2020, on 24 August 2020. Beneficial Owner Procedure...

VAT in GCC Countries-Taxation in GCC Although taxation has a long history in the world, it played a relatively minor role in the Gulf Region until 2015. The Countries of the Gulf Region are colloquially known as GCC Countries....

Income Tax in GCC Income Tax in GCC: The Oman Ministry of Finance, in its recent Medium-Term Fiscal Plan of 2020-2024 revealed its plan to introduce Income tax on high net worth individuals from 2022.  Income Tax in GCC...

Beneficial Owner Procedures - Cabinet Decision No. 58 of 2020  Beneficial Owner Procedures Regulation has been introduced in UAE vide Cabinet Decision No. 58 of 2020, on 24 August 2020. Beneficial Owner Procedures Regulation came...

Declaration of Ultimate Beneficial Owner(UBO's) in the UAE Ultimate Beneficial Owner term is noticed in many Regulations. The beneficial Owner is nothing but the Natural Person ultimately holding the Legal Person. The reference to...