When will corporate tax in UAE be implemented? + As per the latest announcement, corporate tax will be in full effect from the financial year starting on or after 1 June 2023. For businesses that have a financial year starting on 1 January 2023 and ending on 31 December 2023, they will ...
The Federal Tax Authority (FTA) has released a Corporate Tax (CT) Guide on Accounting Standards and their interaction with Corporate Tax. The document includes detailed guidance on accepted accounting standards, taxation under realisation basis of accoun
Starting from June 1st, 2023, the UAE government has legislated a new tax known as Corporate Tax (CT), and businesses must take the necessary steps to prepare for it and meet their compliance obligations. This is where VAT BOX can help. We offer guidance and assistance in planning and meet...
Corporate tax in the UAE Corporate Tax (CT), a form of direct tax, also known as Corporate Income Tax or Business Profits Tax, is levied on a business’s net income or profit. The new regime for this tax was announced with a major aim of streamlining the UAE’s tax system, while al...
UAE corporate tax is almost here – but what does it mean for the future of business in the GCC? And why has it been implemented? Oliver Wyman partner,Ibrahim Ghoul, recently shared his insights on UAE fiscal policy with Fast Company Middle East and, as he pointed out, “Such moves have...
Article 10 March 2023 How can TMF Group help? We make UAE corporate tax simple for our clients. Our global presence and experts on the ground in 125 offices across 86 jurisdictions around the world, including Abu Dhabi and Dubai, have the knowledge and experience to help businesses of all ...
On March 7, Law No. (1) of 2024 (“Law”) on taxation of foreign banks operating in Dubai was issued by the Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum. This decision is effective from the date of its publication in the official...
UAE introduces new fees on international imports in 2023 Why does it matter? The move is intended to support start-ups and other small or micro businesses by reducing their Corporate Tax burden and compliance costs. The ministerial decision on Small Business Relief specifies the revenue threshold ...
UAE has issued a Federal Decree-Law on Taxation of Corporations and Businesses, under which they will become subject to UAE Corporate Tax from the beginning of their first financial year that starts on or after 1 June 2023. The UAE’s Corporate Tax regime will levy a standard rate...
Arabian Post Staff The United Arab Emirates will introduce a corporate tax from mid-2023, the finance ministry said Monday, in a major change of course as the country seeks to diversify its income. Long known as a tax haven and the regional headquarters