UAE Introduces New Administrative and Tax Relief Measures for Businesses and Foundations
In a bid to further optimize the business environment, the UAE Ministry of Finance has announced new administrative and tax relief measures aimed at domestic enterprises, foreign partnerships, and family foundations. These initiatives seek to reduce compliance burdens, enhance tax system flexibility, and solidify the UAE's position as a global business hub.
Under the updated regulations, non-corporate partnerships are no longer required to notify the Federal Tax Authority (FTA) of partnership changes, such as new or departing members, within 20 business days. This adjustment significantly reduces administrative and time costs, improving operational efficiency.
Additionally, foreign partnerships recognized as "tax transparent" in their home jurisdictions will now receive the same designation in the UAE. This eliminates the need for individual partners to verify their tax status with the FTA, streamlining tax filing processes and lowering compliance costs.
First, please LoginComment After ~