Latest news with #AED1m
Arabian Business
25-03-2025
- Entertainment
- Arabian Business
UAE Lottery announces new AED1m scratch card
The UAE Lottery has announced four new digital scratch card games The UAE Lottery has announced the launch of four new online scratch card games, with prizes of up to AED1m ($272,000). The new scratch card games are available from AED5 to AED50, with highest prizes on offer of up to AED1m ($272,000). The new scratch cards are: UAE Lottery scratch card games
Gulf Insider
25-03-2025
- Entertainment
- Gulf Insider
UAE Lottery Announces New AED1m Scratch Card
The UAE Lottery has announced four new digital scratch card games The UAE Lottery has announced the launch of four new online scratch card games, with prizes of up to AED1m ($272,000). The new scratch card games are available from AED5 to AED50, with highest prizes on offer of up to AED1m ($272,000). The new scratch cards are: Karak Kash: AED5 entry with prizes of up to AED 50,000 ($13,600). Fortune Festival: AED10 entry with prizes of up to AED100,000 ($27,200) Golden Dynasty: AED20 entry with prizes of up to AED 300,000 ($81,700) Mission Million: AED 50 entry with prizes of up to AED1m ($272,000) In launching the new games, the lottery organisers encouraged players to play responsibly and offered tools and tips to support people. 49 minutes ago 59 minutes ago 10 hours ago
Arabian Business
14-03-2025
- Arabian Business
UAE jails 80 members of fraud gang, life-terms and $272,000 fines for ‘Bahloul Gang'
The UAE has jailed members of a criminal gang for life and fined others AED1m ($272,000) for organised crime offences, using weapons and extorting money. The Abu Dhabi Federal Court of Appeals – State Security Chamber – has convicted members of the organised criminal group known in the media as the ''Bahloul Gang' and sentenced them to various prison terms. The verdicts included: Life imprisonment for 18 defendants 15 years in prison for 46 defendants Five years in prison and a fine of AED1m ($272,000) for 16 defendants UAE jails gang members Authorities also confiscated seized funds, properties, vehicles, and weapons linked to the crimes. A number of defendants were acquitted. Dr. Hamad Saif Al Shamsi, UAE Attorney-General, had ordered the referral of the organised criminal group members to trial for committing crimes that jeopardised state security, public order, and societal safety. The gang, which named itself Bahloul Gang, was formed, managed, and joined with for the intent of engaging in unlawful activities, amassing illicit funds, and distributing proceeds among its members. They established dominance in certain areas, promoted their criminal activities on social media platforms, and used prohibited weapons and tools to instil fear and intimidation in their victims. The gang was involved in extorting money from victims through coercion to further their criminal objectives.
Gulf Insider
10-03-2025
- Business
- Gulf Insider
UAE Urges Taxpayers to Submit Registrations This Month
The UAE's Federal Tax Authority (FTA) has reaffirmed the need for all natural persons who are subject to Corporate Tax to submit their Tax Registration applications for Corporate Tax no later than the end March 2025. Failure to do so will mean violating tax regulations and incurring the associated administrative penalties. The FTA emphasised that if a natural person was conducting a Business or Business Activity in the UAE, during the calendar year 2024, or subsequent years, and their total Turnover in that calendar year exceeds AED1m ($272,000), they are a Taxable Person. As such, they must register for Corporate Tax no later than March 31 of the calendar year following the year in which their total Turnover exceeded the AED1m ($272,000) threshold. This will fulfil their compliance obligations with regard to their Corporate Tax. The FTA defines a 'natural person' as an individual, living human being of any age, whether resident in the UAE or elsewhere. A natural person is subject to corporate tax to the extent to which he or she is engaged in a business or business activity in the UAE, including sole proprietorships and individual partners in joint ventures that are conducting a business or business activity in the UAE. The Authority indicated that the first possible tax period for a natural person conducting business or business activities is the calendar year 2024. The Authority explained that if a natural person conducts a Business or Business Activity in the UAE during the 2024 calendar year, and their Revenue exceeds AED1m ($272,000) by July 31, 2024, they are required to submit an application to register for Corporate Tax no later than March 31, 2025. Subsequently, they must then submit a Corporate Tax Return no later than 30 September 2025. If a natural person who must register for Corporate Tax does not submit a Tax Registration application by the applicable deadline, they will be subject to an Administrative Penalty of AED10,000 ($2,700). With regard to the registration process, the FTA clarified that a VAT or Excise Tax registrant can access their account directly through EmiraTax – the digital tax services provider that operates 24 hours a day. Following the completion and approval of the registration application for corporate tax, a registration number will be issued for corporate tax purposes. Also read: UAE Authorities Conducted 93,000 Tax Inspections In 2024
Arabian Business
09-03-2025
- Business
- Arabian Business
UAE urges taxpayers to submit registrations this month to avoid fines
The UAE's Federal Tax Authority (FTA) has reaffirmed the need for all natural persons who are subject to Corporate Tax to submit their Tax Registration applications for Corporate Tax no later than the end March 2025. Failure to do so will mean violating tax regulations and incurring the associated administrative penalties. The FTA emphasised that if a natural person was conducting a Business or Business Activity in the UAE, during the calendar year 2024, or subsequent years, and their total Turnover in that calendar year exceeds AED1m ($272,000), they are a Taxable Person. UAE Corporate Tax As such, they must register for Corporate Tax no later than March 31 of the calendar year following the year in which their total Turnover exceeded the AED1m ($272,000) threshold. This will fulfil their compliance obligations with regard to their Corporate Tax. The FTA defines a 'natural person' as an individual, living human being of any age, whether resident in the UAE or elsewhere. A natural person is subject to corporate tax to the extent to which he or she is engaged in a business or business activity in the UAE, including sole proprietorships and individual partners in joint ventures that are conducting a business or business activity in the UAE. The Authority indicated that the first possible tax period for a natural person conducting business or business activities is the calendar year 2024. The Authority explained that if a natural person conducts a Business or Business Activity in the UAE during the 2024 calendar year, and their Revenue exceeds AED1m ($272,000) by July 31, 2024, they are required to submit an application to register for Corporate Tax no later than March 31, 2025. Subsequently, they must then submit a Corporate Tax Return no later than 30 September 2025. If a natural person who must register for Corporate Tax does not submit a Tax Registration application by the applicable deadline, they will be subject to an Administrative Penalty of AED10,000 ($2,700). With regard to the registration process, the FTA clarified that a VAT or Excise Tax registrant can access their account directly through EmiraTax – the digital tax services provider that operates 24 hours a day. Following the completion and approval of the registration application for corporate tax, a registration number will be issued for corporate tax purposes.
