Latest news with #Dhruva
Zawya
2 hours ago
- Business
- Zawya
Dhruva explores VAT implications in UAE's emerging tokenised real estate landscape
Dubai, UAE – As Dubai leads the global shift toward blockchain-enabled property, Dhruva, one of the region's leading tax advisory firms, is analysing the Value Added Tax (VAT) implications arising from the launch of the UAE's first tokenised real estate platform. This platform democratizes access to property investment by listing approved high-value real estate assets on the blockchain platform and subdividing them into digital tokens that represent fractional ownership. Dhruva observes that the precise VAT treatment hinges on whether these tokens are characterised as traditional real-estate interests or as 'virtual assets' under UAE law—a distinction that will determine the applicable rates on token issuance, secondary trading and rental income distributions. Vlad Skibunov, Partner at Dhruva Consultants said, 'As the market embraces this innovation, understanding VAT implications is paramount, given the tokens' dual identity as both direct real estate interest and 'virtual assets' under UAE VAT legislation. If characterised as virtual assets, token issuance and secondary trading may follow VAT rules for financial services —potentially qualifying for exemption or zero-rating—whereas classification as traditional property interests would subject commercial assets to 5 percent VAT and exempt residential units. Rental income distributions and platform fees must likewise be analysed to determine whether they fall within real estate or financial transaction scopes. 'We are pleased to witness blockchain unlocking new opportunities in real estate investment. However, the complexity of VAT treatment for tokenised structures demands sophisticated analysis. Buyers and developers must factor VAT liabilities into their arrangements from the outset to avoid unexpected costs and ensure compliance. Dhruva is committed to providing actionable guidance on VAT classification and compliance for tokenised real estate. By closely analysing contractual frameworks and engaging proactively with the Federal Tax Authority, we support market participants in effectively incorporating VAT considerations when investing in this emerging digital investment model,' added Vlad. Dhruva advises organizations on navigating complex compliance landscapes and delivering clarity in innovative transaction structures. A homegrown brand with a global outlook, Dhruva serves clients across diverse sectors, including oil & gas, healthcare, retail, construction, technology, artificial intelligence, and crypto. The firm is known for offering tailored tax strategies that address industry-specific challenges while identifying new opportunities for sustainable growth. 'As UAE businesses continue to innovate and adopt emerging technologies, it is essential that market participants approach evolving investment structures with care. Clear guidance and proactive engagement will be essential to ensure compliance and unlock the full potential of tokenised real estate in the UAE,' concluded Vlad. About Dhruva Consultants Dhruva Consultants is a leading tax advisory firm specializing in VAT, corporate tax, transfer pricing, and international taxation in the Middle East. With a strong track record in advising some of the largest real estate players in the UAE, Dhruva Consultants combines deep industry expertise with practical solutions, ensuring clients not only achieve compliance but also optimize their tax strategies for long-term success.
Time of India
07-07-2025
- Business
- Time of India
Made-in-India solar tech Dhruva Space to power Pixxel's hyperspectral satellites in NewSpace milestone
I observe a Starlink satellite gracefully orbiting Earth, its solar panels gleaming in the sunlight against the backdrop of the planet's curvature. BENGALURU: Space startups Dhruva Space and Pixxel have entered a strategic partnership that will see Dhruva 's space-grade solar panels, 'Solis+', integrated into Pixxel's next-generation satellite fleet. 'The partnership will combine Dhruva's advanced power systems with Pixxel's high-resolution Earth observation satellites. Pixxel's upcoming fleet builds on the successful 2025 launch of its Firefly satellites, which delivered the world's first 5-meter commercial hyperspectral imagery,' Dhruva said Monday. Pixxel founder and CTO Kshitij Khandelwal, pointing out that power systems are mission-critical, and there's no room for errors in space, said, as Pixxel expands capabilities, they're building with partners who bring deep technical ability and a shared focus on mission readiness. You Can Also Check: Bengaluru AQI | Weather in Bengaluru | Bank Holidays in Bengaluru | Public Holidays in Bengaluru 'Dhruva Space's Solis+, manufactured in-house, utilise high-efficiency (up to 30%) triple-junction GaAs solar cells and are engineered for extreme reliability in orbit. With power capacities scaling up to several kilowatts, Solis+ is ideally suited for larger satellite missions,' Dhruva said. The panels are already gaining international traction, with exports underway to the UAE, Austria, Australia, and France. In Nov 2024, the company successfully delivered Solis+ units to the Government of India. 'This partnership represents the best of India's NewSpace capabilities coming together. There are very few global players that design, manufacture, qualify, and export space-grade solar panels. This is not just a hardware agreement — it's a statement that Indian spacetech companies are scaling with flight heritage and global readiness,' Dhruva CTO and co-founder Abhay Egoor, said.
Time of India
30-06-2025
- Business
- Time of India
SatSure, Dhruva Space collaborate to offer end-to-end space-based solutions
Per the partnership, the two companies SatSure and Dhruva Space seek to deliver sovereign earth observation (EO) services with faster mission timelines and greater reliability. The partnership also aims to address the increasing demand for EO data across defence, agriculture, urban governance, and environmental monitoring. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Bengaluru-based earth observation (EO) startup SatSure has signed a memorandum of understanding (MoU) with Hyderabad-headquartered Dhruva Space to jointly offer earth observation-as-a-service (EOaaS) solutions. The two will indigenously develop space-based solutions catering to commercial partnership will integrate SatSure's downstream capabilities through its subsidiary KaleidEO, which builds EO payloads and analytics platforms. Dhruva will provide upstream expertise in small satellite platforms, launch integration, and ground station companies aim to deliver sovereign EO services with faster mission timelines and higher reliability, they said in a statement on Monday.'We are very excited to be joining forces with Dhruva Space. This partnership is poised to boost our sovereign EO capabilities and create a complete package for end customers who need both high-quality data and end-to-end solutions,' said Prateep Basu, founder of partnership also aims to address the growing demand for EO data across defence, agriculture, urban governance, and environmental Nekkanti, CEO of Dhruva Space, said, 'This collaboration marks a significant step in building a vertically integrated, sovereign space ecosystem. By combining our capabilities, we can deliver actionable insights for critical applications across multiple sectors.'Dhruva, which has tested its technology over multiple satellite missions , is currently building a 280,000 sq ft spacecraft manufacturing facility in Hyderabad. The facility will be capable of designing, assembling, integrating, and testing spacecraft of up to 500 kg in weight.
Zawya
30-06-2025
- Business
- Zawya
Dhruva urges UAE businesses to prepare for eInvoicing as 2026 deadline approaches
Dubai, UAE: As the UAE prepares to implement a nationwide eInvoicing mandate by July 2026, Dhruva is calling on businesses to urgently begin their digital compliance journey or risk falling behind. The Federal Tax Authority (FTA) and the Ministry of Finance (MoF) have set out a phased roadmap that begins with legislative updates in Q2 2025 and culminates in the mandatory go-live date of July 2026. The new system is poised to dramatically reshape how tax data is reported, analysed, and enforced in real-time. 'eInvoicing is not just another compliance requirement but a complete transformation of how transactions are recorded, shared, and scrutinised by the authorities,' said Nimish Goel, GCC Leader, Dhruva Consultants. 'From VAT to corporate tax, this reform will provide unprecedented visibility to regulators and significantly raise the bar for compliance.' Unlike the traditional practice of sharing PDF invoices over email, the UAE's eInvoicing model mandates the issuance of structured XML-based invoices routed through accredited service providers. Drawing inspiration from successful rollouts in several other economies—where eInvoicing has helped curb billions in tax fraud—the UAE's model includes B2B and B2G transactions to start with, and notably, will extend to businesses not currently VAT registered. 'The scope is vast. Even exempt and out-of-scope supplies will now require electronic commercial invoices,' explained Nimish. 'This means financial services, real estate, and designated zone transactions—historically under less scrutiny—will now be monitored in real-time.' 'Businesses in the UAE cannot afford to wait until 2026 to act, they should begin by assessing current data readiness, reviewing internal systems, engaging with their ERP and IT teams, and working closely with tax advisors to fix any gaps in VAT treatment or data capture,' said Nimish. 'It's not just about compliance—errors in real-time reporting can trigger audits and penalties.' eInvoicing also brings the promise of long-term efficiencies, including the eventual automation of VAT return filing and improved refund processes. However, the road to implementation will require rigorous preparation—from stakeholder alignment and system integration to validating digital signatures and ensuring data accuracy. Dhruva will continue to support businesses in navigating this regulatory shift through tailored advisory, technology enablement, and policy insight as further guidelines are released by the authorities.
Hans India
06-06-2025
- Sport
- Hans India
Master Dhruva Shines as Youngest Equestrian Star at Hyderabad Horse Show 2025
Ten-year-old Master Dhruva emerged as the youngest equestrian rider at the Hyderabad Horse Show 2025, held by Nasr Polo and Equestrian Academy. Competing against 650 participants, Dhruva bagged 3 golds, 1 silver, and 1 bronze, earning widespread praise. A student of Chirec International School and trained at Rancho De Caballos, Dhruva shares a strong bond with his horse Beretta. His early start at age six and dedication have placed him 10th in Telangana's rankings. With eyes set on national representation, Dhruva's journey inspires young athletes with his passion, discipline, and remarkable connection with animals.
