The UAE is modernising its financial ecosystem by introducing a mandatory national electronic invoicing system under its broader E-Billing System initiative. So, traditional paper invoices, PDFs, Word documents, or scan copies will no longer be valid tax documents. What is an E-Invoice in UAE? An e-invoice follows a global standard framework and is a legitimate financial transaction document. E-invoicing uses...

There is a new update on Corporate Tax for Qualifying Free Zone Persons (QFZPs) engaged in the Distribution of Goods in the UAE. The additional compliance procedures require obtaining an approval letter from government registered tax agents. So, trading companies in the Designated Zones must get an ‘Agreed-Upon Procedures (AUP) Report’ from the independent government-approved external tax auditor. The company...

UAE’s business landscape is flourishing with more Free Trade Zones launching attractive company setup packages. The newest Free Zone in the UAE is offering the cheapest company setup in the UAE, starting from AED 4,499. Similarly, free zones in the northern Emirates and Sharjah offer the cheapest company setup in the UAE. The company license cost starts from around AED...