Overview of changes to Middle East tax regulations

Topics covered in this overview

• New Decision on disclosure of beneficial ownership information
• Grounds for extending the deadlines for taxpayers to submit a Tax Assessment Review Request and a Request for Reconsideration of Tax Authority Decisions
• New FAQs on DMTT
• FTA publishes new Guide and updates Policy on Issuing Clarifications and Directives
• Amendments to VAT Executive Regulations
• FTA issues Administrative Exceptions Excise Tax Guide
• Regulation of activities outside Dubai Free Zones
• New comments and guidelines on Global Anti-Base Erosion Rules Pillar II
• New corporate tax guide clarifying interest deduction limitation rules
• Taxation of qualifying investment funds and qualifying limited partnerships
• Determination of a non-resident person’s nexus in the UAE
• New entities required to prepare and maintain audited financial statements
• VAT public clarification
• Waiver of penalties