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Dubai Fact-File Part 1:
Business Formation for Individuals

1.7 Dubai Business Accounting

Accounting and auditing requirements for individuals in business: As individuals are not liable for tax in Dubai, there is no requirement to file a tax return.

Although companies do not pay tax (except gas & oil companies and branches of foreign banks), those located outside the Free Zones must file annual financial statements with the Ministry of Commerce. Companies located within the Free Zones must report to the port authority of the zone.

Branches of foreign companies must file annual tax returns. Payment of any tax due must be submitted with the return. Penalties apply for late filing/payment.

 

Introductory Guides

Brief, clearly written summaries with links to relevant sections of the Fact-File. The Fact-File itself is linked in full below.

 

Fact-File

Part 1: Dubai Business Formation for Individuals

  1. Dubai Individual Business Structures
  2. Dubai Individual Business Registration
  3. Dubai Individual Business Registration Cost
  4. Dubai Individual Business Licensing
  5. Dubai Foreigners in Business
  6. Dubai Business Organisations
  7. Dubai Business Accounting
  8. Dubai Family Business Ownership
  9. Dubai Venture Capital
  10. Dubai Individual Business Franchises

Part 2: Dubai Individual Business Domestic Taxation

  1. Dubai Individual Business Tax Residence Rules
  2. Dubai Permanent Establishment
  3. Dubai Individual Income Tax Rates and Bands
  4. Dubai Personal Allowances and Business Deductions
  5. Dubai Husband and Wife Partnerships
  6. Dubai Partnership Income Taxation
  7. Dubai Limited Companies Income Taxation
  8. Dubai Business Profit Retention
  9. Dubai Business Losses
  10. Dubai Value Added Tax (VAT)
  11. Dubai Individual Business Capital Gains Tax (CGT)
  12. Dubai Individual Artists Royalties
  13. Dubai/Dubai Individual Business Tax-Efficient Profit Distribution

Part 3: Dubai Individual Business International Taxation

  1. Dubai Individual Business International Tax Liability
  2. Dubai Individual Business Withholding Taxes
  3. Dubai Double Tax Treaties

Part 4: Dubai Individual Business Tax-Efficient Structures

  1. Dubai Individual Business Trusts and Foundations
  2. Dubai Individual Business for Non-Residents
  3. Dubai Individual Business use of Offshore
  4. Dubai Controlled Foreign Corporation (CFC) Rules
  5. Dubai Personal Estate and Inheritance Planning

Part 5: Dubai Small Business Incentive Programs

  1. Dubai Small Business Support Schemes
  2. Dubai Training Incentive Schemes
  3. Dubai R&D Tax Credits
  4. Dubai Individual Business Tax Holidays

Part 6: Dubai Individual Business Employment Issues

  1. Dubai Individual Business Employer Responsibilities
  2. Dubai Employment vs Self-Employment Tax Issues
  3. Dubai Apprenticeship and Work Experience Schemes
  4. Dubai Employee Dismissal Rules
  5. Dubai Business Owner Employment and Invoicing Rules

Part 7: Dubai Business Owner Welfare and Lifestyle

  1. Dubai Business Social Security
  2. Dubai Business Domestic Pensions
  3. Dubai Offshore and International Pensions
  4. Dubai Individual Business Healthcare
  5. Dubai Individual Business Banking Services
  6. Dubai Education
  7. Dubai Individual or Business Leaving Dubai
  8. Dubai Domestic Real Estate
  9. Dubai International Real Estate