Emirates Chartered Accountants Group

♥️ Hearty Congratulations to our very own on winning the 54th Kerala State Award for Best Lyricist! Your lyrics have resonated deeply, touching hearts and inspiring countless people.

Hareesh has been with us for over 4 years, and his remarkable ability to balance his professional and artistic passions is truly admirable.

A true example that with dedication, anything is possible.

Photo source: 101.3 FM

📅 Corporate Tax Registration Deadline - August 31, 2024

🏢 Companies with licenses issued in June (regardless of the year)

🚨 Avoid a potential administrative penalty of AED 10,000.

📧 [email protected]
📍 https://tinyurl.com/5n8avaux

🔍 Stay Ahead with Our Monthly Tax Updates!

Keep your business in the know with the latest tax news from across the GCC, India, Singapore , OECD 🌍, Hong Kong, the United States, and the United Kingdom.

📍 https://tinyurl.com/2wk3stew

📊 Expert Insights | 💼 Business Impact | 🌐 Global Reach

📢 Latest Federal Tax Authority Decision no. 5 of 2024 effective from 1st August 2024

Decision No. 5 of 2024, effective August 1, 2024, introduces important clarifications:

1️⃣ Private Clarifications: Outlines scenarios where the Authority will not issue private clarifications.

2️⃣ Fee Refunds: Details conditions under which fees paid for private clarification requests are eligible for refunds.

Stay informed and ensure your compliance by reviewing the latest guidelines! For more information, www.emiratesca.com

Corporate Tax Public Clarification First Tax Period

The FTA has issued a Corporate Tax Public Clarification CTP003 on First Tax Period of a Juridical person on July 30, 2024. This Public Clarification is intended to clarify the First Tax Period for the following categories of Taxable Persons:

📍 Juridical Persons
📍 Non-Resident Persons with a Permanent Establishment
📍 Resident Persons with Place of Effective Management

Our summary includes practical illustrations to aid in determining the First Tax Period of a Taxable Persons.

🌐 View it here: https://tinyurl.com/4z98y22z

📢 Celebrating Milestones at Our Bahrain Branch! 🌟

Marking a special day as we celebrate Bavisha’s 5-year journey with us. Additionally, we extend our heartfelt congratulations to Govind, who has celebrated 3 years with us. Your dedication and hard work are truly commendable!

During CA Manu Palerichal's recent visit, our CEO & Founder Partner expressed deep appreciation for the outstanding contributions of all our Bahrain office employees and Branch head, Bichin. Your relentless efforts and commitment continue to drive our success.

As a token of our gratitude and in line with our commitment to sustainability, we are excited to present an eco-friendly gift to each ECAG member. Together, let's continue to make a positive impact on our environment.

Thank you for being an integral part of our journey!

🎉 July Birthdays Celebration! 🎉

As July comes to a close, we are excited to celebrate all the amazing team members who had their birthdays this month. 🥳

From everyone at Emirates Chartered Accountants Group we wish you all a year filled with joy, success, and unforgettable moments. Thank you for being a part of our journey and for your incredible contributions. Here's to many more years of growth and happiness together!

📸 Featuring our July birthday stars: Akshay M, CA Anitta Varghese, Sarika P C, Aadarsh K S, Tehseen Sajad, Bichinraj K M

Happy Birthday and Belated Birthday Wishes to each and every one of you! 🎂🎈

⚡ UAE Corporate Tax Registration DEADLINE! ⚡

As per FTA Decision No. 3 of 2024 all Taxable Persons are required to submit an application for Corporate Tax Registration based on the License issue date.

Where a juridical person has more than one License, the License with the earliest issuance date is required to be considered. The deadline for licenses issued in May is 31st July 2024.

📍 https://www.emiratesca.com/taxation-in-uae-gcc-countries/direct-tax

📢 Manpower services vs Visa Facilitation services: UNDERSTANDING VAT PUBLIC CLARIFICATION VATP038 🚀

Our blog breaks down the Federal Tax Authority's Public Clarification VATP038, focusing on the critical distinction between manpower supply and visa facilitation services.

Learn more about the manpower supply services and visa facilitation services, and how this public clarification impacts your company's VAT obligations.

https://tinyurl.com/yuppdvz3

Stay informed, stay compliant! 📚💼

🌟 UAE VAT Registration Simplified: Key Points, Deadlines, and Benefits You Can't Ignore 🌟

🔍 Why Register for VAT?
📌 Key Points
📅 Deadlines
📞 For expert VAT registration assistance
[email protected]

🌐 https://tinyurl.com/bddukbhc

📢 Attention UAE Businesses

The Federal Tax Authority (FTA) has mandated that resident juridical entities with licenses issued in the month of May must submit their Corporate Tax registration applications by July 31, 2024, to avoid fines.

📍 Complete your CT registration now to prevent last-minute issues.

For assistance:
[email protected]
WhatsApp: +971 50 528 2838

بكل فخر، نهنئ سمو الشيخ حمدان بن محمد بن راشد آل مكتوم، ولي عهد دبي، لتعيينه في مناصب مهمة نائباً لرئيس مجلس الوزراء لدولة الإمارات العربية المتحدة ووزيراً للدفاع.

كما نتقدم بخالص التهاني إلى سمو الشيخ عبدالله بن زايد آل نهيان، وزير خارجية الإمارات العربية المتحدة، لتعيينه نائباً لرئيس مجلس الوزراء.

كلنا ثقة من أنهما سيقودان تقدم الأمة وازدهارها بفضل قيادتهما الحكيمة وتفانيهما الذي لا يتزعزع.

وتتقدم مجموعة إماريتس إنترناشيونال لتنظيم السجلات ECAG بأسمى الأمنيات القلبية لهما طوال مشوارهما في هذه الأدوار المهمة.

Congratulations to His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, on his esteemed appointments as Deputy Prime Minister of the UAE and Minister of Defence.

Furthermore, we extend our heartfelt congratulations to His Highness Sheikh Abdullah bin Zayed Al Nahyan, UAE Minister of Foreign Affairs, on his appointment as Deputy Prime Minister.

With their visionary leadership and unwavering dedication, we are confident they will drive the nation's progress and prosperity.

ECAG’s heartfelt wishes accompany them as they embark on these significant roles.

Source: https://www.thenationalnews.com/news/uae/2024/07/14/sheikh-hamdan-becomes-uae-deputy-prime-minister-and-minister-of-defence/

🔍 Understanding VAT Public Clarification VATP037: Director Services by a Natural Person

Key Points:

📍 Out of Scope Services
📍 Previous Requirements
📍 New Provisions
📍 Conditions to be met

We have included detailed examples in our blog to illustrate how it changes affect the tax obligations before and after January 1, 2023.

For more information and personalized assistance
📩 [email protected]

🔗 https://tinyurl.com/4fszrpdw

Understanding VAT Public Clarification VATP037: Director Services Performed by a Natural Person Understanding VAT Public Clarification VATP037: Director Services Performed by a Natural Person

📍 Today ECAG is conducting an exclusive session on Corporate Tax Applicability for Free Zones for Ajman Free Zone. Our distinguished speakers include ECAG's CEO, CA Manu Palerichal, alongside a founder partner, and our Senior Manager - CA Ajil Varghese, each bringing a wealth of experience and expertise on tax to the table.

The session aims to equip attendees with the latest strategies, regulatory requirements, and best practices related to corporate tax in free zones.

♥️ We extend our gratitude to Ajman Free Zone for this opportunity!

🌟 Navigating UAE Corporate Tax Registration: Key Deadlines and Guidelines 🌟

🔍 Key Points Covered:
1. Overview of UAE Corporate Tax: Understanding the significant shift since June 1, 2023.
2. Important Deadlines: Avoid penalties by knowing when and how to register.
3. Detailed Registration Process: Step-by-step guide using the Emara Tax Portal.
4. Special Cases & Examples: Tailored guidance for different business scenarios.
5. Consequences of Late Registration: Stay ahead to avoid fines and legal issues.

📜 Essential Deadlines:
🛠️ Steps to Register:
📌 Don't miss out on critical compliance updates!

https://www.emiratesca.com/navigating-uae-corporate-tax-registration-key-deadlines-and-guidelines/

Navigating UAE Corporate Tax Registration: Key Deadlines and Guidelines On June 4, 2024, the FTA issued a guide to clarify the registration deadlines for different types of taxable persons. This guide provides detailed timelines tailored to the nature of each business, ensuring that all entities have clear instructions on when to register.

🌍 June 2024 Tax Update | Emirates Chartered Accountants Group 📊
Stay ahead with the latest insights from our comprehensive June 2024 Tax Update. We cover pivotal tax regulations and policy changes affecting businesses across multiple jurisdictions.

📍 Click Here to Read: https://tinyurl.com/ycbewdxn

📣 Highlights of this edition:

✅ UAE: The Federal Tax Authority has provided much-needed clarification on Corporate Tax registration timelines. Additionally, new guidelines from the Abu Dhabi Department of Economic Development target businesses collaborating with social media influencers.

✅Oman: Important extensions for CRS report submissions and the exciting approval of the draft law on Personal Income Tax by Majlis A’Shura.

✅Saudi Arabia: Introduction of new guidelines aimed at streamlining the process of settling tax disputes.

✅Global Impact:
We also delve into significant updates from the OECD, the United Nations, and changes in regions such as India, Singapore, and Hong Kong that could influence your strategic planning and operations worldwide.

😍 Stay informed and compliant as we navigate through these changes together. Your proactive engagement with these updates is essential for adapting to the dynamic tax landscape.

🌙✨ Happy Islamic New Year!✨🌙

ECAG wishes every one of you a year full of happiness, success, and good health.

🌟 Blood Donation Camp Highlights - July 1st, CA Day! 🌟

On July 1st, we had the honor of hosting our annual blood donation camp in association with Health Authority (DHA), a cherished part of our Corporate Social Responsibility (CSR) initiatives. This year, the camp was held in celebration of CA Day, embodying the spirit of giving and community support.

❤️ A heartfelt thank you to all our volunteers and donors who contributed to this noble cause. Together, we collected numerous units of blood that will save lives and bring hope to many in need.

🙏 Let's continue to make a difference, one donation at a time.

CA DAY OPEN INVITATION - BLOOD DONATION CAMP on CA DAY, July 1st! 🩸

Every year on CA Day, July 1st, we organize a blood donation camp as part of our Corporate Social Responsibility (CSR) activity. Join us in this noble cause at our head office.

📅 Date: July 1st, 2024
🕘 Time: Starting at 9:00 AM
📍Register here: https://tinyurl.com/yj7taj7w
📍 Venue: Head Office, Dubai https://maps.app.goo.gl/3AoWVFSCv1VsvNgV6

Join us in supporting this noble cause. We look forward to your support! 💪

⚡⚡ We are thrilled to announce the inauguration of our new office space in Dubai! This milestone represents a significant step forward in our journey and would not have been possible without the unwavering support and collaboration of our clients, partners, and dedicated team members.⚡⚡

♥️ To our esteemed clients, we extend our deepest gratitude for your trust and continued partnership.

♥️ To our valued partners, thank you for your collaboration and commitment.

♥️ And to our incredible team, this new office is a testament to your hard work, dedication, and passion. Your efforts have brought us to this exciting chapter, and we are confident that this space will inspire even greater creativity and productivity.

We look forward to welcoming you all to our new office and sharing many more successes together. Thank you for being an integral part of our journey and joining us on the very day!

🚨 Economic Substance Regulation Notification - Last Day Alert🚨
🗓️ Deadline: 30th June 2024 (for FY ending Dec '23)
Ensure you submit your ESR Notification today to avoid penalty.

📍 Need help?
Contact CA. Dhara Yagnik
+971 565956836
[email protected]
🌐 https://tinyurl.com/434r42ee

UAE Corporate Tax Synopsis –Free Zone Persons

We recently unveiled our UAE Corporate Tax Synopsis – Corporate Tax for Free Zone Persons at the ICAI Dubai Chapter event! 📘✨ Our Founder Partner and CEO, CA Manu Palerichal, delivered an insightful session on Corporate Tax for Freezones.

If you haven't had the chance to read the book yet, grab your copy here: https://tinyurl.com/2u7389nt

A big thank you to our dedicated team for their hard work on this compilation and to the ICAI Dubai Chapter for providing the platform and opportunity. 🙌

Manpower Vs Visa Facilitation Service

The latest public clarification VATP038 on Manpower Vs Visa facilitation provides important insights into the taxability of manpower and visa facilitation services:

Key points from the latest public clarification VATP038:
📍 Supply of Manpower Service
📍 Visa Facilitation Service
📍 Conditions for Reclassification

🌐 https://tinyurl.com/bddukbhc