UAE Corporate Tax
9% federal corporate tax will be applicable on business profits with a threshold of AED 375,000
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UAE introduces Corporate Tax
The UAE’s Ministry of Finance made a groundbreaking announcement of implementing Corporate Tax in the region, effective financial years from or after 1 June 2023. The UAE has undertaken this action in its attempts to adhere to global standards and to align with OECD’s Global Minimum Tax Proposal under Pillar 2.
On 9 December 2022, the UAE Federal Tax Authority (FTA) released the final version of the UAE Corporate Tax (CT) law (hereinafter referred to as the law) through Federal Decree Law No. 47 of 2022. The law is largely based on the public consultation document issued earlier during the year 2022. However, it also contains certain new provisions which inter-alia include General Anti Abuse Rules, Small Business Relief, detailed definition of UAE sourced income, etc.
Businesses based in UAE would need to be geared up to adapt to these new changes. The companies need to evaluate the applicability of the provisions, align structure to make it tax efficient in UAE, and align policies for related party transactions.
MoF’s latest Ministerial Decision updates
Key highlights of the guidance on maintaining Transfer Pricing Documentation (TPD)
12 May 2023
Under the Ministerial Decision No. 82 of 2023, the following taxable persons would be required to get their accounts audited
28 April 2023
Under Ministerial Decision No. 43 of 2023, the following persons shall not register for Corporate Tax
17 April 2023
Helping clear the air on 0% UAE corporate tax rate
19 May 2023
Key considerations for obtaining Tax Registration Number (TRN)
8 May 2023
10-Step Checklist for UAE Corporate Tax Implementation
19 April 2023
Substance and Value Creation Important pillars of the UAE CT Regime
6 April 2023
Free zone companies free of Corporate Tax?
1 Feb 2023
Timeline for Corporate Tax registration and exemption
27 April 2023
Timeline for tax deregistration
27 April 2023
Conditions for change in tax period
26 April 2023
UAE Ministry issues a decision on Small Business Relief for Corporate Tax purposes
6 April 2023