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Federal Tax Authority Issues New Guide on Scope and Registration for Top-up Tax on Multinational Enterprises

UAE FTA guidance on Pillar Two top-up tax scope and registration—critical for multinational groups' compliance with UAE's new tax regime.

uae fta · 30 sep

10595 8 oct frc Closure of investigation regarding the audit of Joules Group plc by Deloitte LLP Deloitte's concluded investigation into Joules Group's audit may influence how companies assess audit risks and quality standards.

10594 8 oct frc Sanctions against Deloitte LLP UK audit regulator enforcement action against a Big 4 firm; relevant precedent for audit quality standards and firm compliance regardless of jurisdiction.

10098 1 oct the national DFSA fines Vault Wealth Dh401,000 for providing unauthorised transactions The DFSA fined Vault Wealth Dh401,000 for conducting unauthorized financial services, reinforcing that separate DFSA approval is required even for companies licensed by other regulators. ▪ read

9749 28 sep uae fta Federal Tax Authority: 30 September 2026 Is The Deadline For Filing Tax Returns and Paying Corporate Tax for FY 2025 Companies in the UAE must file their 2025 corporate taxes by September 30, 2026, or face compliance penalties. ▪ read

9474 24 sep the national Iran proposes ceasefire road map, $2.45 billion pledged for Gaza, and Syria tourism doubles UAE Central Bank enforcement action against Bank Melli Iran for AML non-compliance — relevant precedent for sanctions and regulatory risk assessment at a UAE-based conglomerate.

9409 23 sep the national UAE Central Bank bars Bank Melli Iran from conducting transactions CBUAE enforcement action barring Iranian bank operations in UAE — directly affects compliance obligations for any UAE entity with Iran exposure or correspondent banking relationships. ▪ read

8498 11 sep the national VAT in the UAE: New October regulation will change how you manage compliance New UAE VAT rules require businesses to verify supplier documents before claiming input tax, affecting how all companies process invoices. ▪ read

8477 11 sep frc Investigations into the conduct of an individual accountant and regarding the audits of State Oil Limited (part of the Prax Group) FRC enforcement action against Big 4 auditor and individual accountant over financing-arrangement audits; signals regulator scrutiny of accounting treatments in leveraged-company contexts.

8473 10 sep journal of accountancy FASB updates investment company fair value reporting standard FASB clarifies fair value measurement for restricted equity securities in investment company portfolios—relevant for portfolio valuation and disclosure.

8265 8 sep khaleej times UAE tightens VAT rules to curb tax evasion and clarify compliance UAE VAT enforcement tightening directly affects compliance obligations for UAE entities. Requires review of current VAT practices. ▪ read

8106 6 sep khaleej times UAE sets out how crypto payments must be converted to dirhams for VAT UAE FTA crypto-to-dirham conversion guidance for VAT: operational detail that affects reporting of cryptopayment transactions in a UAE corporate context. ▪ read

7706 1 sep ias plus EFRAG asks for a delay of the IFRS 17 annual cohort exemption review EFRAG delay request on IFRS 17 cohort exemption review signals potential relief or reprieve for insurers managing annual compliance cycles; affects implementation timetable.

7703 1 sep ias plus IVSC perspectives paper on estimating valuation adjustments for financial instruments IVSC valuation adjustment guidance addresses measurement of financial instruments under IFRS 13—relevant for fair-value accounting and derivative hedging. ▪ read

7567 30 aug the national UAE Central Bank orders urgent probe into Banque Misr branches after US warning The UAE Central Bank is investigating Banque Misr branches following US Treasury sanctions threats over anti-money laundering compliance concerns. ▪ read

7551 29 aug khaleej times UAE Central Bank orders probe into Banque Misr branches after US money laundering warning UAE regulator enforcement action on AML compliance at a licensed bank branch — signals priorities for internal controls and compliance risk management.

7291 26 aug the national UAE issues new regulation for top-up tax on large corporations UAE tax authority clarifies mandatory filing scope and entity definitions for DMTT compliance; directly affects multinationals' UAE tax obligations and FTA reporting. ▪ read

7219 25 aug pwc August 2026: Refreshed guidance on common control transactions PwC refreshes guidance on common control M&A accounting—a frequent practitioner pain point. Worth hearing the updated position. ▪ read

7043 23 aug the national E-invoicing is more than a compliance exercise for UAE companies UAE companies must now prepare their accounting systems and select service providers before the October 30 e-invoicing deadline to avoid implementation failures. ▪ read

6886 20 aug journal of accountancy FASB proposal addresses whether certain digital assets are cash equivalents FASB consultation on cash-equivalent treatment of stablecoins and digital assets; clarifies US GAAP reporting for entities holding or transacting in crypto-linked instruments.

6737 18 aug sec SEC Charges Former Executives With Fraud in Connection With $1.9 Billion Collapse of Subprime Auto Lender Tricolor The SEC charged former executives with fraud related to a $1.9 billion subprime auto lender collapse, highlighting accounting fraud risks in lending operations.

6167 11 aug the national Digital currency and VAT: New UAE rules for businesses to consider FTA issued formal directive on digital currency to AED conversion methodology; clarifies VAT and corporate tax treatment for UAE entities accepting crypto payments.

6127 10 aug the national 'Huge relief': UAE small businesses welcome corporate tax reprieve UAE corporate tax relief threshold raised to Dh3m and extended to 2029; impacts eligibility and planning for small-business clients and consolidated-group reporting.

5952 7 aug the national UAE extends corporate tax relief for small businesses until 2029 UAE extends small-business corporate tax relief to end-2029; clarifies Dh1m turnover threshold. Direct impact on UAE tax compliance scope for subsidiaries and portfolios below threshold. ▪ read

5824 5 aug grant thornton Initial recognition and measurement Big 4 explores how insurers should initially recognize and measure insurance contracts under IFRS 17, essential for finance leaders handling significant insurance obligations. ▪ read

5661 4 aug uae fta Federal Tax Authority confirms taxable persons eligible for small business relief must submit simplified corporate tax returns within prescribed legal deadline UAE corporate tax filing requirement clarification for small business relief claimants. Affects return preparation timeline and compliance obligations. ▪ read

5315 30 jul frc Investigations into the conduct of individual accountants and regarding an audit of John Wood Group plc FRC enforcement case involving financial reporting and audit quality at a listed company; illustrates control-environment and auditor communication risks material to corporate governance assessment.

5291 29 jul pwc July 2026: IFRS 20 Regulatory Assets and Regulatory Liabilities IFRS 20 is a new standard affecting utility and regulated-rate entities; this episode walks through the accounting model with IASB technical input. ▪ read

5191 28 jul icaew Bringing leases on balance sheet: common pitfalls and issues ICAEW practical guidance on FRS 102 lease-accounting implementation; identifies real initial-application pitfalls for a recently mandated standard. ▪ read

5157 28 jul frc Sanctions against Ernst & Young LLP and Ms Julie Carlyle FRC enforcement action against a Big 4 auditor and partner; relevant precedent for audit quality, independence, and regulator expectations even outside UK.

4855 23 jul frc FRC Annual Enforcement Review highlights lessons to strengthen audit market FRC enforcement patterns and findings inform audit quality risks and common control failures relevant to group audit oversight and audit committee governance.

4412 16 jul frc Sanctions against PricewaterhouseCoopers LLP and Mr John Waters UK audit enforcement case against Big 4 firm; instructive precedent on audit partner accountability and PwC control environment for groups with UK operations.

4366 16 jul frc Sanctions against PricewaterhouseCoopers LLP and Mr John Waters FRC enforcement decision against a Big 4 firm — informs auditor quality standards and reminds audit committees of regulator expectations on audit rigour.

4071 11 jul esma New Q&As available ESMA released guidance clarifying three EU financial regulations covering notifications, scope, custody, and market infrastructure for firms operating EU securities entities.

4016 10 jul the national Vashi jeweller accountant blacklisted over 'fictitious' £157m diamond hoard An accounting scandal involving fake diamonds highlights gaps in audit procedures for verifying high-value assets and assessing financial risks.

3958 10 jul gulf news Confused about UAE corporate tax? FTA answers 15 common business questions FTA clarification of 15 common corporate tax questions. Direct source material for UAE entities filing under the new regime. ▪ read

3662 6 jul the national UAE Central Bank fines foreign bank Dh1.8m for regulatory breach CBUAE enforcement action signals tightened compliance expectations on procedural timelines for foreign bank branches operating in the UAE.

3624 6 jul grant thornton IFRS 16 – Sale and leaseback accounting Big 4 worked guidance on IFRS 16 sale-and-leaseback accounting—a high-frequency issue in corporate structuring and refinancing. ▪ read

3623 6 jul grant thornton IFRS 16 - Sale and leaseback accounting Big 4 technical paper on a common transaction type (sale-leaseback) under a core standard. Useful reference for deal structuring and accounting judgements.

3414 2 jul frc Sanctions against Forvis Mazars LLP and Mr David Allen FRC audit enforcement sanction. Useful precedent on auditor conduct standards and firm liability, though UK-specific.

3389 2 jul esma Moody's Germany fined EUR 2,145,000 for misreporting to ESMA German credit rater Moody's paid €2.1 million after failing to properly report data to EU regulators, highlighting risks in compliance and internal control gaps.