This relief system, outlined in Article 21 of the Federal Decree-Law No. 47 of 2022, allows eligible small businesses to treat their taxable revenue as zero for a particular tax period. This results in zero rate corporate tax payments for the relevant period, which is a significant advantage for small businesses.
Not every country levies a 9% corporate tax! Only a handful of countries worldwide are tax havens, and luckily your business is located in one of them. In most countries, a significant amount of dough goes to the government in the form of taxes (there are plenty!), whether business persons or individuals. There are nations
A Quick Recap Free zones are certain set geographic areas with security measures in place to watch the movement of goods and people. VAT applies throughout the UAE but not designated free zones, a specific area assigned to be outside the UAE for Value Added Tax (VAT) purposes. According to the document published by the
“You have to understand accounting and you have to understand the nuances of accounting. It’s the language of business and it’s an imperfect language, but unless you are willing to put in the effort to learn accounting – how to read and interpret financial statements – you really shouldn’t select stocks yourself” – Warren Buffet.