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Corporate Tax in UAE : Rates, Rules and Consent | 2023

Every country constantly passes new laws in order to boost its growth and accelerate its economy. The United Arab Emirates is one of these countries, where a new law has just been passed. Federal Decree- Law No. 47 of 2022 on Taxation of Corporations and Businesses establishes a corporate tax on a firm’s net earnings. His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the United Arab Emirates, has issued the Decree- Law. Beginning with their first financial year that begins on or after June 1, 2023, all enterprises need to abide by this regulation.

The nation’s status as a major hub for commerce and investment will enhance with the relinquishment of this UAE corporate duty law. Commercial income tax will speed up the country’s achievement of its strategic objectives. It demonstrates that the country will in no way embrace fraudulent duty practices.

What are the corporation taxes in the UAE set at?
Corporate tax in UAE has been established to ensure fair practice. For individuals with taxable inflows up to AED 375,000, the CT is 0% while for those with inflows over that threshold, it’s 9%. An alternate duty rate, set at 15% of commercial profit, will apply to large enterprises like big MNCs that meet the government’s norms.

Corporate tax in Free Zones: What are the rules?
A qualifying free zone person will be subject to it at 0% on qualifying income and at 9% on taxable income that’s not, in agreement with the legislation, considered qualifying income. Thus Dubai freezone company setup is beneficial for entrepreneurs.

Who’ll be covered by the tax law?
All business operations conducted in the UAE after acquiring a licence are subject to UAE corporate tax. This covers all types of licences, including the freelancing licence, that are necessary for you to conduct business lawfully in Dubai. According to government regulations,” qualifying free zone persons” will be needed to pay corporate taxes at the forenamed rates.

Who isn’t needed to pay corporate tax?
The new UAE corporation tax does not apply to companies that depend on resource exploitation. Capital earnings from qualified intra-group deals, qualifying reorganisations, and qualifying ownership will also be free from corporate duty. CT doesn’t apply to individual stipends or other benefits earned at work. In addition, it has been determined to exempt real estate-related interest and income from CT.

Kindly note that it is essential to get registered for corporate tax with the Federal Tax Authority even if you are exempt from paying CT.

Tax groups: what are they?
After taking FTA permission, corporations with several UAE branches may be categorised as a” Tax Group.”Intra-company trades are duty-free in situations when there’s a tax group. For tax purposes, they’re treated as a single commodity. When posting their fiscal statements, they must use the same account rules and financial year. Two or more persons must meet the legal conditions in order to form a tax group.

The fact that an exempt person or a qualified free zone can not be a part of the duty group should be emphasised. Power, rights, and annuity may be held directly or laterally through subsidiaries.

What steps must be taken to register, file, and pay company taxes?
Following are the steps that must be followed in order to pay UAE commercial duty

1. All enterprises, whether subject to taxation or not, must acquire a company tax enrollment number.

2. Taxable parties need to submit a commercial tax return. This must be done within nine months after the end of the tax period.

3. Nonetheless, you must pay both VAT and CT independently. In the UAE, both taxes, which are wholly separate from one another, are still in place.

4. Neither the VAT nor the excise duty will be abolished in the country as a result of the adoption of CT. The tax will apply to all of the Emirates in the United Arab Emirates. It’ll be favourable to comprehend the rules and every other aspect of your corporation when applying for the CT.

5. Everyone has been prompted by the Federal Tax Authority to review the company tax law information and other supporting documents posted on the sanctioned government websites.

The same might be used to assess the situation and determine if your business must pay pot duty or not.

6. Everyone should constantly check the websites or contact us to be informed about any updates or additions to the law.

What RadiantBiz services can you use to support your corporate tax registry?
Our team of accounting and tax specialists will make sure that your business complies with all legal necessities since they’re knowledgeable about and familiar with UAE compliance and accounting legislation. The tax legislation is presently being developed. The laws that were preliminarily drafted have experienced significant changes as a result of this nonstop process, and more changes will come. It might be difficult to stay on top of this evolving legislation.

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Top 7+ Cryptocurrency Payment Gateway Platforms 2020

Blockchain-based crypto payment gateway platforms available in the market that utilize cryptocurrencies are becoming increasingly popular and impressed more end-users around the world.

Several reliable cryptocurrency payment gateway platforms enable users to send and receive bitcoins and other altcoins. Here the top 5+ platforms that we think are best for cryptocurrency payment gateway platforms are discussed thoroughly in this article. Before that get some idea about crypto payment gateway & benefits!

An Introduction to Cryptocurrency Payment Gateways

A blockchain-powered crypto payment gateway platform that allows users to send and receive payments in bitcoin and other cryptocurrencies. The aim is to create a crypto payment gateway platform that improves the payment process by avoiding the number of third-parties involved. It is also expected to increase the regular use of cryptocurrencies on a regular basis.

So Why Use a Blockchain-Powered Cryptocurrency Payment Gateway?

By utilizing a Blockchain ecosystem as a groundwork, crypto payments gateway platforms are highly encrypted and so much more secure than traditional online payment gateway platforms. Also, it simplifies worldwide transactions in multiple cryptocurrencies between suppliers, distributors, businesses, and consumers, at a second of the cost.

Smart contracts are used to handle and close payment agreements between transaction parties involved. Once a contract rule has been established, smart contracts will verify the efficiency of payment and accelerate it to the correct counterparty. This allows for an intensity of automation, without the need for human intervention.

Smart contracts are also made accessible for audit purposes that increase the transparency of the payment process and add a layer of security.

Added high-end security will give merchants peace of mind when changing to a decentralized payment gateway and help them to get decided with the platform much quicker. End-users will feel more convenient and are more likely to use a payment platform when they know that their payments are safe from attacks.

Benefits Of Accepting Cryptocurrency like Bitcoin As a Payment:

Your business gets an alternative trustworthy payment method that works 365 days and 24/7.
You can receive world-wide payments which you can track in on-time.
Your business gets a worldwide customer base
Your business gets more profits, minor fees, fewer credit/debit card chargebacks, and cut-down fraud.
It gives your business an opportunity to keep some amount of your profits in BTC as an investment option. This could help your business in the long-term.
You and your business get the opportunity to ‘Be Your Own Bank (BYOB)’.
Top 7+ Cryptocurrency Payment Gateway Platforms:

Here is the list of 7+ best cryptocurrency payment gateways to accept Bitcoin and other cryptocurrencies as payment for merchants. These crypto payment platforms accept all major cryptocurrencies.

1.Coinbase Commerce

Coinbase is one of the biggest Bitcoin exchange platforms in the world. But apart from trading and exchange Bitcoin on Coinbase, you can also use it for accepting Bitcoin as a payments for your business. Coinbase has a trader app for business vectors to start obtaining Bitcoin where you can accept payments in Bitcoin and easily convert it into fiat to save yourself from price volatility.

It is estimated as best and famous for the bitcoin market because it accepts and offers us a payment gateway for 32 countries. It is totally more secured compared to other platforms.

Insights of this Platform

No transaction fees for accepting crypto coins.
Send & receive the crypto coin in a fast manner without delay
It is integrated with WooCommerce, Shopify, Magento, and OpenCart, just have to add a shopping cart plug-in.
For website owners, add a payment button to your website.
Email invoice to request payments.
It is integrated with advanced API.
A two-factor authentication system allows full security.
BitPay
BitPay is the best Bitcoin payment processor based out of the United States since the early days of Bitcoin in 2011.

With the BitPay app, you can accept Bitcoin as payment for more than 50+ integrations with popular e-commerce & retail platforms and point-of-sale systems as well as convert it into 8 worldwide fiat-currencies for bank deposits in 40 different countries. Bitpay also offers Bitcoin Debit Cards for easy crypto to fiat transactions. It’s all features that are highly secured and advanced that you can use it for making your payment by cryptocurrency.

Insights of this Platform

It has open-source plugins suitable for eCommerce & retail platforms.
All payment transactions can be done in cryptocurrency like Bitcoin.
It allows Bitcoin donations.
POS mechanism allows bitcoin to be changed into 8 fiat currencies.
Universally accepted and allows bank deposits in 38 countries.
Multilingual and supports more than 40 languages globally.
API platform offers a simple interactive interface.
A two-factor authentication system allows full security.
Multi-user facility.
There are options for transaction speed according to your requirements.
Suitable with all bitcoin cash wallets.
Transaction notification through email and mobile text messages.
CoinGate
CoinGate allows your business to accept Bitcoin/altcoin payments and receive payouts in fiat or digital currencies

It provides numerous solutions for various types of business requirements like plugins for E-commerce, APIs, and point of sale app with payment click buttons for various platforms such as web, Android, and iOS. It also supports altcoin payments with ShapeShift integration.

The key fact about this is that its values updated after 60 seconds. It support and process Bitcoin and more than 40+ digital currencies. It is more advanced than any other crypto payment gateway because in which, you can easily transfer money back in Euro and Dollar.

Insights of this Platform

POS applications for different platforms like web browsers, Android, and iOS.
It comes with plugins for eCommerce platforms.
Shapeshift integration that supports numerous altcoins.
Real-time integration with e-commerce
Multi-user facility
CoinPayments
CoinPayments has been around 2013 and is the most trustworthy cryptocurrency payment gateways out there. With Coinpayments, you can accept more than 1480+ cryptocurrencies including Bitcoin and many others.

CoinPayment offer many pre-made shopping cart plugins that you can use for your merchant store or you can code it yourself as well. CoinPayments offer multi-cryptocurrency wallet which protect you can store your accepted crypto currencies in a secure wallet.

Insights of this Platform

It allows merchants to accept over 1200+ coins for 0.5% fee.
It offers plugins and tools for all the familared web carts
Unique $tag (pay by name) to receive payments from all coins.
It Supports GAP600 quick confirmations to make Bitcoin payments faster.
Airdrops of new coins and tokens.
Auto coin conversion and Multi coin wallets.
5.SpectroCoin

SpectroCoin is also one of the best Bitcoin payment gateway for merchants based out of Europe countires. They have a trustworthy customer base and offer a variety of options for businesses.

They aim to create alternative payment options for customers and businesses around the world with their ready-made solutions like e-commerce plugins, Bitcoin payment processing APIs, and other payment integration tools.

Insights of this Platform

Supports more than 30+ crypto currencies around the world
It allows high deposit and withdrawal limits based on need.
It has e-commerce plugins like Magento, OpenCart, PrestaShop, VirtueMart, WooCommerce.
Offers a Bitcoin debit card.
SpectroCoin API allows you to buy and sell bitcoins and other currencies.
6.GoUrl.io

GoUrl is an open-source project that offers unique Bitcoin payment solutions for its worldwide users. It is based out of the Commonwealth of Dominica and provides ready-made plugins for E-commerce and APIs along with free customer support for GoUrl payment integrations.

Insights of this Platform

No Valid ID or bank account verification is needed.
The wallet is 100% free without charges.
GoUrl Monetiser which allows you to sell music, videos, URLs, images, and texts online for crypto coins like bitcoins, ethereum, etc
Optimize your bitcoin box through JSON or JQuery.
Earn by selling your products or make bitcoins through downloads.
Allows third-party e-commerce plugins like WooCommerce etc.
Earn via site registration.
Earn via participation in affiliate & other programs.
CoinsBank
CoinsBank is blockchain powered payment gateway. It can be instantly integrated with your debit card with just the click of your finger. The mobile app is available for all Android and iOS phones.

Insights of this Platform

Fast deposit and withdrawal methods.
A two-factor authentication system to secure your wallet.
Easy exchange of funds in current market rates.
It supports all major fiat currencies like USD, EUR, GBP, Russian Ruble.
A 24/7 free transfer of currencies to friends and families.
A 24-hour customer support system.
A worldwide exchange trade platform for customers at minimum risks and maximum profits.
Some of the other cryptocurrency payment gateway platforms are:

Blockonomics
B2BinPay
info
TripleA
BTCPay Server
SpicePay
Shopify Gateway
ALFAcoins
Confirmo
NOWPayments
Finally, The Insights

Surely, our list of crypto payment gateway platforms is not exhaustive – there are so many more popular platforms that may corner their niches and get surrounded by hype in 2020. Yet, our top 5+ choices are surely worth your specific attention, and it’s up to you to choose which one is the best crypto payment gateway platform.

Ready to create your own crypto payment gateway platform like Coinbase, Bitpay? Whether it is a payment gateway application, cryptocurrency wallet development or any other crypto or blockchain project you have in mind, share your vision with our cryptocurrency development company, and we’ll make it a reality.

About Developcoins

Developcoins is the best cryptocurrency payment gateway development company which having rich experience of cryptocurrency wallet development and we are highly skilled in developing new payment gateway for Bitcoins and other altcoins. Our prime focus is on Integration of bitcoin gateway and another cryptocurrency gateway.

We provide custom-made, multi-currency and secure web and mobile wallet with UI/UX design, for usage on a regular basis. We also provide crypto payment via QR Code, NFC or URL options to your worldwide users. Our pool of development team will assure that you’re hot and cold wallets can be integrated into the payment gateway platforms.

Clone Script of Popular Cryptocurrency Payment Gateway Platforms!

Create Your Own crypto payment gateway platform with ready-to-use Clone Script. We provide complete ready-made solutions with 100% bug-free source!

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Own Your Dream Villa in Kerala, Generate Rental Income, & Get a Holiday Home!

Do you dream of a villa in Kerala? A holiday home in Kerala, India that is a short drive from the major cities of Kochi, Kottayam, or Ernakulum? A villa where you can spend memorable extended vacations with the family if you’re arriving in Kerala from outside India from the United Arab Emirates, Singapore, the United Kingdom, or the United States.

Then, Rhythm ResiTel is the answer for you!

ResiTel is the best real estate investment opportunity in India because it combines benefits you won’t find with any other real estate investment in India. You get to own a villa in Kerala and generate guaranteed steady rental income from the property when away, with zero outgoings or maintenance!

You get a vacation and holiday home in India with a complimentary stay for the family in a luxury setting in God’s Own Country, Kerala in India.

And, in the long-term, you get to benefit from the capital/property appreciation opportunity, in line with the healthy performance of the real estate sector in India.

Rhythm ResiTel Kumarakom is in the glorious backwaters of Kumarakom, a village on Vembanad Lake in the backwaters of Kerala, India. Kumarakom is popular with tourists for its scenic setting, which is laced with canals and plied by houseboats.

There are 3 types of property investment options available at Rhythm ResiTel Kumarakom:

Studio
Cottage
Villa
Studio Suites are in the main block and feature spectacular views of Lake Vembanad and the resort pool area. They have been meticulously designed with attention to detail.

Cottage Suites features include spacious living rooms overlooking the scenic pool area. Luxury interiors and aesthetics add to its appeal. Cottage suites also feature a sit-out area offering spectacular views of nature and the backwaters.

Our Villa Suites are very spacious and offer panoramic views of Lake Vembanad’s backwaters. A private plunge pool is attached to the villa, so you can relax and enjoy your own time.

All suites feature king-size beds, air-conditioning, Wi-Fi access, HD television sets, and a work desk and chair.

Rhythm ResiTel Kumarakom is packed with amenities. It features India’s longest swimming pool measuring 150 meters! In addition, you will find a health club, banquet hall, rejuvenation spa, a multi-cuisine restaurant, and a games room.

Be a savvy investor and get ahead of this opportunity with Rhythm ResiTel. It is the best real estate investment in India and the best rental income property in India. Own a villa in Kerala near Kochi or Kottayam as a holiday home in India, generate secure rental income, and make it your complimentary cherished spot for extended family vacations.

Rhythm ResiTel offers a unique combination of property investment benefits you won’t find elsewhere in the real estate investment sector in India.

Hear directly from satisfied owners and investors about their experiences with the Rhythm ResiTel ‘own and rent” concept. Hear how they are spending all their family vacations at their luxury villas in Kerala, seeing regular returns in the form of rental income, and confident in the long-term property/capital appreciation of their property investment.

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