The Ministry of Finance (MoF) in the United Arab Emirates (UAE) introduced a federal Corporate Tax (CT) on business profits in January 2022. The rules on corporate tax in UAE came into effect on June 1, 2023. This is a big change for businesses, which means business owners and accountants will need to get to grips with the new rules to avoid breaking the law.
In this article, you will learn:
- The history of Corporate Tax in the UAE
- Why has the UAE introduced a Corporate Tax?
- What is the UAE Corporate Tax Rate?
- Who has to pay the Corporate Tax?
- What is Withholding Tax in the UAE?
- Who is a non-resident person?
- Who is a resident person?
- What is a Permanent Establishment?
- What is a Free Zone Person?
- What is a Qualifying Free Zone Person?
- What is the Corporate Tax imposed on?
- What income is exempt from Corporate Tax?
- What expenses are deductible?
- How to prepare for Corporate Tax?
- Corporate Tax timelines
- Corporate Tax ready checklist
- Make sure your business is ready for tax time