Corporate TAX
Corporate tax is a form of direct tax levied on the net income or profit of corporations and other entities from their business. On 31 January 2022, the tax landscape of the region shifted yet again with the United Arab Emirates (UAE), Ministry of Finance (MoF) making the breakthrough announcement that a new federal corporate tax will be implemented in the UAE, effective financial years commencing on or after 1 June 2023.
Applicable Rates : Corporate TAX will be charged on the annual taxable income of a business as follows:
0%for taxable income not exceeding AED 375,000
9%, for taxable income exceeding AED 375,000
Exempt Person
- A Government entity
- A Government controlled entity
- A person engaged in an extractive business;
- A person engaged in a non-extractive natural resource business;
- A qualifying public benefit entity;
- A qualifying investment fund;
- A public / private pension or social security fund;
- A juridical person incorporated in the UAE that is wholly owned and controlled by an exempt person specified in (a), (b), (f) and (g) under certain conditions.
In Future Elite a team of elite tax professionals possesses in-depth knowledge of UAE tax regulations, ensuring your business stays compliant and competitive in the UAE marketplace. A lot of notifications, circulars and press releases are happening all the time in UAE. There are many common conditions where the legislators are fine-tuning, businesses require a lot of feedback and day-to-day guidance on corporate TAX assistance. Our tax specialists offer a comprehensive blend of tax advisory, tax litigation, regulatory and compliance services, helping you navigate through complex business matters
