Uae corporate tax law pdf

On 31 January 2022, the UAE Ministry of Finance (MoF) announced the introduction of a federal corporate tax (CT) in the UAE that will be effective for financial years starting on or after 1 June 2023

The UAE CT regime will be based on international best practices, with a low / minimal compliance burden on businesses

Accounting standards that are accepted in the UAE for Corporate Tax purposes are the International Financial Reporting Standards (IFRS), or IFRS for small and medium-sized entities (IFRS for SMEs) for a Taxable Person with Revenue of AED 50,000,000 or less in the relevant Tax Period

Taxable Person as defined in the CT Law, is an individual and/or entity that is subject to UAE CT

For the purposes of the CT Law, a distinction is made between a Resident Person and a Non-Resident Person and the applicable Tax base will depend on the nature of the Taxable person