Uae corporate tax law news

What is the new tax law in UAE 2023?
The UAE corporate tax will be implemented on 1 June 2023 and apply from the beginning of the first financial year starting on or after that date.
Businesses will be liable to pay tax of 9% on taxable profits of more than AED 375,000 (1.000 AED is the equivalent of around USD 272)..
What is the new tax policy in UAE?
The UAE Cabinet of Ministers issued Cabinet Decision No. (49) of 2023, on May 8, levying a 9% corporate tax for certain businesses.
This decision has been viewed as a strategic move to diversify the UAE's income sources beyond oil while allowing the country to maintain its status as a regional commercial hub._{Jul 5, 2023}.
There is currently no personal income tax in the United Arab Emirates.
As such, there are no individual tax registration or reporting obligations.

Nov 1, 2023The United Arab Emirates (UAE) on December 9 issued Federal Decree-Law No. (47) of 2022 on the taxation of corporations and businesses ('CT

On 9 December 2022, the United Arab Emirates issued the new Law on the taxation of corporations and businesses, ''the CT Law''. The CT Law will apply for financial years starting on or after 1 June 2023 and has been designed to incorporate best practices globally and to minimise the compliance burden on businesses.

When will corporate tax be applied in UAE?

CT will be applied across all the emirates

According to the UAE Federal Decree-Law No

47 of 2022 on taxation of corporations and businesses (the “Corporate Tax Law”), businesses will become subject to UAE Corporate Tax from the beginning of their first financial year that starts on or after 1 June 2023

What is Corporate tax (CT)?

Who is considered a taxable person in UAE?

The Law details the definition of Taxable Persons and has confirmed that a UAE branch of a UAE taxable person should be treated as “ONE” taxable person (i

, once single tax registration and return)

Certain businesses may be exempt from the corporate tax law

A hotly anticipated area of the CT law was the treatment of Free Zone Persons. The law suggests that a Qualifying Free Zone …,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.

Uae corporate tax law news

What is the new tax law in UAE 2023?

What is the new tax policy in UAE?

When will corporate tax be applied in UAE?

Who is considered a taxable person in UAE?