UAE simplifies business tax rules, easing compliance for partnerships and family foundations.

The UAE Ministry of Finance has introduced new tax rules to simplify compliance for businesses. Unincorporated partnerships no longer need to notify the Federal Tax Authority within 20 business days of changes. Foreign partnerships will be treated as 'tax transparent' if they are in their home country, reducing verification steps. Family foundations can now apply for similar tax benefits, enhancing their financial management under the UAE's Corporate Tax framework.

November 18, 2024
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