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...
November 12, 2024 Important UAE CT actions before year-end As the first financial year following the introduction of the Corporate Tax Law (“CT Law”) comes to a close for many businesses in the United Arab Emirates, it is important to ensure taxpayers meet statutory deadlines and understand...
1 January 2024 to 31 December 2024 Deadline for filing and payment (if payable position) 30 September 2025 (nine months after FYE)Overview In landmark legislation published on 9 December 2022, the United Arab Emirates (UAE) introduced its corporate tax regime. This was in light of a general...
Guide6 min read|Posted on April 2, 2024|ByZoho Books Team The United Arab Emirates (UAE) Ministry of Finance has announced a new tax regime to keep up with the growth of the UAE’s economy and make it more transparent. This new regime, Corporate Tax (CT), will be effective from June...
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The UAE’s decision to exempt investment funds from its new corporate tax regime will be welcomed by businesses, but important questions over its implementation remain unanswered, according to one legal expert. It comes after the government unveiled Federal Decree-Law No. 47 of 2022 (56 pages ...
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The corporate tax will come into effect for taxable persons and companies from the beginning of their first financial year that starts on or after June 1, 2023. When will registration begin? The registration period is currently available for certain categories of companies operating in the UAE. ...
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 ...
“With the introduction of corporate tax, the UAE reaffirms its commitment to meeting international standards for tax transparency and preventing harmful tax practices,” Younis Haji Al Khoori, Undersecretary of the Ministry of Finance, said in the statement. ...