{"id":60735,"date":"2023-11-13T13:48:38","date_gmt":"2023-11-13T10:48:38","guid":{"rendered":"https:\/\/amlak.net.sa\/?p=60735"},"modified":"2023-11-13T13:48:38","modified_gmt":"2023-11-13T10:48:38","slug":"%d8%a3%d8%b1%d8%a7%d8%b6%d9%8a-%d8%af%d8%a8%d9%8a-%d8%aa%d8%b4%d8%aa%d8%b1%d8%b7-%d8%a7%d9%84%d8%a7%d8%b3%d8%aa%d8%b9%d8%a7%d9%86%d8%a9-%d8%a8%d9%85%d9%83%d8%a7%d8%aa%d8%a8-%d8%a7%d9%84%d8%aa%d9%82","status":"publish","type":"post","link":"https:\/\/amlak.net.sa\/en\/60735\/","title":{"rendered":"Dubai Land requires the use of accredited valuation offices to apply the corporate tax"},"content":{"rendered":"

The Land and Property Department in Dubai<\/a> \u0627<\/strong>Owners should refer to the approved list of licensed companies and appraisal firms in the emirate, available on the official website dubailand.gov.ae and on the Dubai Rest app to ensure compliance with the requirements for corporate tax implementation under Decree-Law No. 47 of 2022.<\/p>\n

These guidelines are intended to help companies avoid legal penalties or financial violations, and to support them in continuing to grow and contribute to the development and prosperity of Dubai\u2019s real estate sector.<\/p>\n

This measure also aims to ensure that these parties adopt a fair and transparent approach with regard to their assets and liabilities, and to facilitate the process of determining the opening balance before the new system takes effect.<\/p>\n

The Department recommends referring to Ministerial Decision No. 120 of 2023 regarding the transitional provisions for corporate income tax, specifically Article 2, Paragraph 3 of the Decision.(The amount used as the market value of eligible immovable property shall be determined by the relevant competent government authority in the country.).<\/p>\n

A Smooth Transition for Property Owners\u00a0<\/strong><\/h4>\n

The Department of Land and Property in Dubai<\/a> <\/strong>Furthermore, referring to this decision ensures that business owners have a smooth transition from the period prior to the implementation of the Corporate Tax Law and facilitates the process of determining the opening balance sheet. The ministerial decision will apply to certain assets and liabilities, such as real property, intangible assets, financial assets, and financial liabilities held by businesses prior to the Corporate Tax Law coming into effect.<\/p>\n

It should be noted that the resolution provides greater flexibility to the real estate sector, as businesses with immovable property accounted for at historical cost have the option to determine the basis for the relief\u2014either using the time-proportion method or the valuation method\u2014allowing groups to determine the most appropriate outcome for their non-current assets on a per-asset basis.<\/p>","protected":false},"excerpt":{"rendered":"

Reading time: <\/span> < 1<\/span> Minute<\/span><\/span>The Dubai Land Department has urged property owners to refer to the approved list of licensed companies and appraisal firms in the emirate, available on its official website, dubailand.gov.ae and on the Dubai Rest app to ensure compliance with the requirements for corporate tax implementation under Decree-Law No. 47 of 2022. These guidelines aim to help companies avoid any legal penalties or financial violations, \u2026 Read more<\/a><\/p>","protected":false},"author":27,"featured_media":55438,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_seopress_titles_title":"","_seopress_titles_desc":"","_seopress_robots_index":"","_seopress_robots_follow":"","_seopress_robots_imageindex":"","_seopress_robots_snippet":"","_seopress_robots_primary_cat":"0","_seopress_robots_breadcrumbs":"","_seopress_robots_freeze_modified_date":"","_seopress_robots_custom_modified_date":"","_seopress_robots_canonical":"","_seopress_social_fb_title":"","_seopress_social_fb_desc":"","_seopress_social_fb_img":"","_seopress_social_fb_img_attachment_id":0,"_seopress_social_fb_img_width":0,"_seopress_social_fb_img_height":0,"_seopress_social_twitter_title":"","_seopress_social_twitter_desc":"","_seopress_social_twitter_img":"","_seopress_social_twitter_img_attachment_id":0,"_seopress_social_twitter_img_width":0,"_seopress_social_twitter_img_height":0,"_seopress_redirections_value":"","_seopress_redirections_enabled":"","_seopress_redirections_enabled_regex":"","_seopress_redirections_logged_status":"","_seopress_redirections_param":"","_seopress_redirections_type":0,"_seopress_analysis_target_kw":"","_seopress_news_disabled":"","_seopress_video_disabled":"","_seopress_video":[],"_seopress_pro_schemas_manual":[],"_seopress_pro_rich_snippets_disable_all":"","_seopress_pro_rich_snippets_disable":[],"_seopress_pro_schemas":[],"footnotes":""},"categories":[104],"tags":[],"class_list":["post-60735","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-legislation-and-regulations"],"acf":{"amlak_post_excerpt":"","amlak_post_excerpt_source":{"label":"Amlak post excerpt","type":"text","formatted_value":""}},"featured_image_urls":{"full":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2023\/03\/\u062f\u0628\u064a.jpg",1280,720,false],"thumbnail":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2023\/03\/\u062f\u0628\u064a-150x150.jpg",150,150,true],"medium":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2023\/03\/\u062f\u0628\u064a-300x169.jpg",300,169,true],"medium_large":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2023\/03\/\u062f\u0628\u064a-768x432.jpg",768,432,true],"large":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2023\/03\/\u062f\u0628\u064a-1024x576.jpg",1024,576,true],"1536x1536":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2023\/03\/\u062f\u0628\u064a.jpg",1280,720,false],"2048x2048":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2023\/03\/\u062f\u0628\u064a.jpg",1280,720,false],"trp-custom-language-flag":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2023\/03\/\u062f\u0628\u064a.jpg",18,10,false],"event-thumbnail":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2023\/03\/\u062f\u0628\u064a-300x200.jpg",300,200,true],"event-medium":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2023\/03\/\u062f\u0628\u064a-600x400.jpg",600,400,true],"event-large":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2023\/03\/\u062f\u0628\u064a-1200x720.jpg",1200,720,true],"event-hero":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2023\/03\/\u062f\u0628\u064a.jpg",1280,720,false]},"author_info":{"info":["\u0623\u0645\u0644\u0627\u0643 \u0627\u0644\u0639\u0642\u0627\u0631\u064a\u0629"]},"category_info":"\u0627\u0644\u062a\u0634\u0631\u064a\u0639\u0627\u062a \u0648\u0627\u0644\u0623\u0646\u0638\u0645\u0629<\/a>","tag_info":"\u0627\u0644\u062a\u0634\u0631\u064a\u0639\u0627\u062a \u0648\u0627\u0644\u0623\u0646\u0638\u0645\u0629","comment_count":"0","_links":{"self":[{"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/posts\/60735","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/users\/27"}],"replies":[{"embeddable":true,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/comments?post=60735"}],"version-history":[{"count":0,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/posts\/60735\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/media\/55438"}],"wp:attachment":[{"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/media?parent=60735"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/categories?post=60735"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/tags?post=60735"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}