Article by Henriette Fuchs (Pearl Cohen Zedek Latzer Baratz) Unlike the taxing authorities in many other countries, the tax authorities of Israel – managing the tax system of one of the world’s leading innovation incubators – actively ‘patrol the border’ keeping a close watch on related-party transactionsIntra-Group Transactions are interactions between entities within the same […]
Article by: Reggie Mezu, Bastiaan Moossdorff and Laya Aoun-Hani (Baker McKenzie) The UAE Federal Tax AuthorityTax authorities are fundamental institutions within government frameworks, overseeing tax assessmentA tax assessment is a formal determination made by a tax authority to calculate the amount of tax an individual or entity owes. It is a comprehensive evaluation based on financial records, declared income, expenses, deductions, and any applicable tax laws or regulations. Tax assessments may arise from routine self-assessments by taxpayers, or they may be conducted by revenue authorities... More, collection, and administration. Their operations ensure that tax lawsTax laws form the backbone of any nation’s revenue system, setting the rules that govern how individuals and corporations contribute financially to support government functions. These laws define the types of taxes, the applicable rates, and the regulations regarding payment and compliance. They also outline the rights and obligations of taxpayers, ensuring a balanced and fair approach to funding public... More are enforced and public funds are collected efficiently. This article delves into tax authorities’ purpose, responsibilities, and structure, offering insights
Federal Tax Authority issues public clarification on transfer of business in the UAE Read More »
