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 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)...
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 decision aligns with Article 21 of the Corporate Tax Law, which treats the taxable person as not having derived any taxable i...
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 law stipulates that taxable persons and businesses will be subject to nine per cent corporate tax from the beginning of their first financial year
In 2024 a 9% corporate income tax rate is imposed on income exceeding AED 375,000. Foreign investors can hold up to 49% of the share capital in UAE mainland companies. In companies located in free trade zones foreign holding of 100% is allowed. Free Trade Zones, FTZ In the UAE there...
Under the new law, government entities, government-controlled entities, persons engaged in extractive businesses, and persons engaged in a non-extractive natural resource business are exempted from corporate tax. In addition, the list of exempted entities includes qualifying public benefit entities, quali...
The resolution includes determining the eligible income as well as excluded, qualifying activitiesLearn More... UAE announces new corporate tax rules to support companies' transition once law takes effect in June Posted byUAE Free Zones on May 27, 2023 ...
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 positions which will underpin the financial...