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The evolution of the interplay between Voluntary Disclosure and late payment penalties in UAE Tax Law

The jurisprudence on the interrelation between penalties for voluntary disclosure (“VD”) and late payment in UAE tax law has undergone a notable evolution since the enactment of Cabinet Resolution No.

Updates to UAE Vat Input Tax Apportionment Guidance

The Federal Tax Authority (FTA) has issued a revised Input Tax Apportionment Guide (VATGIT1, September 2025), which replaces the previous version dated March 2023. The updated guide reflects the amendments

VAT Treatment of Demurrage and Despatch: UAE and Beyond

Maritime Charter Parties have long addressed the risks of delay or efficiency in cargo operations through two reciprocal mechanisms: demurrage (the fee payable for exceeding agreed laytime) and despatch (the

Treatment of Pre-GloBE losses in a jurisdiction with a newly introduced Corporate (Income) Tax

Transitional relief for developers in the UAE: CTP009 project-level valuation

Ministerial Decision No. 120 of 16 May 2023 introduced transitional rules for immovable property. Article 2(2) permits a taxpayer to exclude the pre-commencement portion of the gain either by (a)

Structured Commodity Finance and the UAE Qualifying Activities Regime: Countertrade

The enactment of Ministerial Decision No. 229 of 28 August 2025 marks a significant evolution in the UAE Free Zone tax framework. For the first time, the Ministry of Finance

FTA clarifies Corporate Tax treatment of family wealth management structures

On 19 September 2025, the UAE Federal Tax Authority (FTA) issued Public Clarification No. CTP008 on the Corporate Tax treatment of family wealth management structures. This marks a significant step

FOREX gain and losses from remeasurement of cash and bank balances: can the realisation basis be elected?

This case study addresses the treatment of foreign exchange differences on cash and bank balances under the UAE Corporate Tax regime. The question arises from the interaction between the mandatory

Treasury and financing “for its own account” under Ministerial Decision 229 of 2025

This Thursday, the Minister of Finance has published Ministerial Decision (MD) No. 229 of 28 August 2025, which repeals MD No. 265 of 2023 and applies retroactively from 1 June