Ultimate Beneficial Owner (UBO)

Cabinet Resolution No. (58) of 2020 This blog explains few major points in the Cabinet Resolution of Ultimate Beneficial Owner in the UAE. Who is this law applicable to? The new regulation passed by the cabinet is applicable to all the companies in Mainland and Free Zones, however this provision shall not apply to companies- […]

Ultimate Beneficial Ownership (UBO) Submissions for Mainland Companies

Ultimate Beneficial Ownership

We have already updated you on how you can determine your UBO. Now however, UAE ministry of economy has requested all companies (Freezones & Mainland)in the UAE to submit real beneficiary details to the respective regulatory authorities. https://www.youtube.com/watch?v=ynd33Ivs_os&list=PLG2rYg8L_bcpcO7qTbJDsWk6VLk81Pr-1 Deadline – 30 June 2021 If UBO submissions are not done, penalty’s will come into effect on […]

UAE Tax Invoice Format: Difference between a Simplified & Full Tax Invoice

UAE Tax Invoice Format

Understanding the correct UAE Tax Invoice format can make or break your business. Please read this, if you have been in one of the following situations: Not sure if the invoice you raise to your client has all the details required to make it a legal document? Trying to claim VAT on an invoice sent […]