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 the key technical p
TheUAE’s Ministry of Financeissued on Thursday a Ministerial Decision stipulating new rules for small businesses’ corporate tax. The Small Business Relief decision addresses the Federal Decree-Law No. 47 of 2022 on the Taxation of Corporations and Businesses, (The Corporate Tax Law). The recent...
The United Arab Emirates (UAE) Federal Tax Authority is introducing the corporate income tax law (UAE Federal Decree-Law No 47 of 2022 – Taxation of Corporations and Businesses) in 2023. It will have a significant impact on businesses operating within the country. This new law will bring the...
The UAE’s Federal Tax Authority (FTA) has launched early registration for corporate tax through the EmaraTax platform for digital tax services. The Federal Decree-Law No. 47 of 2022 on the Taxation of Corporations and Businesses stipulates that taxable persons and businesses will be subject to ...
The Corporate Tax is going to be imposed on the taxable Income, at the rates determined under this UAE Federal Decree-Law No. 47 of 2022, and payable to the Federal Tax Authority under this Decree-Law and the Tax Procedures Law. The businesses will be subject to UAE Corporate Tax (CT)...
Penalty may include jail time and/or a fine up to a certain multiple of the unpaid tax amount. In some instances, it can be both, depending on the violation. Know more about Corporate Tax Corporate Tax Law UAE How is Corporate Tax in UAE Calculated ...
Understand the corporate tax using law and supporting information available on the Ministry of Finance and the Federal Tax Authority websites Assess the corporate obligation for your business, such as: Whether your business needs to register for UAE corporate tax ...
The Corporate Tax Law will apply to both onshore and free zone companies. Corporate tax rates will be 0% on taxable income up to AED 375,000 and 9% on taxable income over AED 375,000. Free zone entities that maintain adequate substance in the UAE and comply with transfer...
The UAE issued the Corporate Tax Law on 9 December 2022, which provided the legislative basis for the introduction and implementation of a federal corporate tax effective for financial years starting on or after 1 June 2023. In a nutshell, unless exempted,taxable business income above AED375,000...
As new and more complex forms of doing business develop, income tax is also being amended to keep pace. Recently, the scope and frequency of these amendments have accelerated due to international requirements, especially as part of the programme for comb