Summary of UAE Corporate Tax and Transfer Pricing Law

Summary of UAE Corporate Tax and Transfer Pricing Law

The long wait was finally over on 9 December 2022, when 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. The CT regime would be effective for the financial year starting on or after 1 June 2023.

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