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. W...
The Ministry of Finance (MoF) confirmed the Federal Decree-Law No. 47 of 2022 on the Taxation of Corporations and Businesses is an important milestone in building an integrated tax regime that supports the strategic objectives of the UAE and enhances its global economic competitiveness, ...
5 UAE corporate tax facts you must know 1. Availability of small business tax relief A small business can avail of tax relief as per the UAE corporate tax law. This provision applies on top of the 0% CT rate for businesses with a taxable income of up to or equal to AED 375,000. Sm...
“Looking to the medium term, we welcome the planned fiscal reforms, including the expected introduction of a corporate income tax and gradual phasing out of business fee structures” – Mr Ali Al-Eyd of the IMF, speaking following his Article IV Consultation with UAE authorities, held from 2...
Navigate UAE Corporate Tax regulations with VATBOX Tax Agency! Discover insights on Tax rates, Compliance, and Expert guidance for UAE businesses. VAT BOX is the leading Tax Advisory services provider in the UAE, offering a range of services aimed at helping corporations stay compliant with the ...
The UAE allows qualified business entities to take advantage of a 0 percent corporate tax rate in free zones. We discuss the criteria.
How much is the new corporate tax in the UAE? Thecorporate tax in UAEwill be 9 percent with some exceptions. Businesses that have a net income or a taxable income of AED 375,000 or more will be affected by this new tax. Of course, this means that small businesses whose taxable income...
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 Corporate Tax: Dubai Emirate Law No. 1 of 2024 - Taxation of foreign banks 5 minute read March 13, 2024 Share In brief On March 7, Law No. (1) of 2024 (“Law”) on taxation of foreign banks operating in Dubai was issued by the Ruler of Dub...
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