Businesses in the UAE that missed the deadline to register for corporate tax have been given a welcome break. A new decision by the Ministry of Finance (MoF) and the Federal Tax Authority (FTA) waives administrative penalties for those who missed the registration deadline, as long as they meet specific conditions.

To benefit from the waiver, companies must submit their corporate tax returns or annual statements within seven months of their first tax period, in line with the UAE Corporate Tax Law.

Even better, businesses that already paid fines, but now meet the new conditions, will be eligible for refunds, according to the FTA.

This Cabinet-approved move aims to support businesses during the first year of corporate tax implementation, giving them more flexibility to comply with the new rules without facing hefty penalties.

Who’s Eligible?

• Companies or exempt entities that missed the registration deadline
• Must file their tax return or annual statement within 7 months of their first tax period

Why It Matters

The waiver reflects the UAE’s intention to ease the transition into the new corporate tax regime and encourage businesses to regularise their status without fear of penalties.

(Source: Wam)

Chelsea Football Club has announced an exciting new partnership with DAMAC Properties, bringing the iconic football brand to Dubai’s real estate scene.

The partnership will lead to the creation of Chelsea Residences by DAMAC, a first-of-its-kind, football-themed residential project in Dubai Maritime City, the city’s newest beachfront location.

A Football-Inspired Seafront Lifestyle

The upcoming Chelsea Residences will feature over 1,400 seafront units, each offering stunning views and access to Chelsea-branded amenities focused on health, fitness, and high-performance living.

From concierge services to training-style spaces inspired by elite sports facilities, every corner of the development will reflect the spirit and style of Chelsea FC.

DAMAC on Chelsea Team Shirts

As part of the partnership, DAMAC’s logo will appear on Chelsea’s match shirts for the rest of the season. The branding will make its debut on Thursday during the UEFA Conference League semi-final against Djurgarden.

Leaders React

AmiraSajwani, Managing Director of Sales & Development at DAMAC Properties, said: “This isn’t just about real estate, it’s about creating a unique lifestyle that reflects Chelsea’s legacy and relentless pursuit of excellence.”

Jason Gannon, President and COO of Chelsea FC, added: “We’re thrilled to bring Chelsea to life in Dubai through this innovative project with DAMAC. It’s a major step in expanding our global presence.”

The Trump Organisation is launching a new tower in Dubai, which will include luxury penthouses priced at $20 million. This comes as the company also prepares to start a new property project in Qatar, just ahead of a visit by US President Donald Trump to the Gulf region.

The Trump Organisation has partnered with Dar Global Plc, a Saudi Arabian developer listed in London, to build an 80-story tower on a major highway in Dubai. The tower will have stunning views of the Burj Khalifa, the world’s tallest building. The project will include a hotel, branded homes, a members-only club, and penthouses with sky pools. It will take a few years to complete.

The new tower will have 126 hotel rooms and 446 apartments. The price for apartments will start from Dh4 million to Dh5 million ($1.1 million – $1.4 million), while the penthouses will cost around Dh74 million. The total value of the project is $1 billion, and demand has been strong, according to the companies involved.

One unique feature of this project is that buyers will be able to make payments using cryptocurrencies like Bitcoin and Ethereum, which the Trump family has invested in.

At the same time, Dar Global’s CEO, Ziad El Chaar, mentioned that the company is also planning a new property project in Qatar with the Trump Organisation.

These announcements come ahead of Trump’s trip to the Gulf, where he will visit Saudi Arabia, Qatar, and the UAE, including Dubai.

The Dubai tower project is an important step for the Trump Organisation, as it follows the cancellation of a previous project in Dubai during the financial crisis in 2008. The Trump family has since worked on other developments, including a golf course next to a Trump-branded housing project.

For details, visit www.trump-tower-dubai.ae

(Source: Bloomberg)