All About UAE Corporate TAX

[{"selector":"#anim-34df0b02-9cc3-435a-9561-852d684f2bf7","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-685377dc-ce53-41d7-a5c9-a5337f951829","keyframes":{"transform":["scale(0.3333333333333333)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-be521b97-e05b-4abd-ad3c-15e08de45b00","keyframes":{"opacity":[0,1]},"delay":200,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-f0961729-0fc2-4466-aff8-db72946927da","keyframes":{"transform":["scale(0.3333333333333333)","scale(1)"]},"delay":200,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-c0de1a3e-0554-4a06-9312-0599a839a435","keyframes":{"opacity":[0,1]},"delay":400,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-7911cd1f-1d87-4a7e-8907-47d76c317ccd","keyframes":{"transform":["scale(0.3333333333333333)","scale(1)"]},"delay":400,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] The United Arab Emirates (UAE) has introduced a federal corporate tax (CT) regime, effective for financial years commencing on or after 1 June 2023. The CT rate is 9%, but there is a zero rate for taxable profits up to AED 375,000. Blue Rings Blue Rings Blue Rings

Who is subject to CT?

What are the CT requirements?

[{"selector":"#anim-e7da860a-d60b-46e9-bfc9-daf9bf9c8ca0","keyframes":{"opacity":[0,1]},"delay":0,"duration":5000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-6d95474f-5ff5-45fc-8bac-9b7c657c1ed9","keyframes":{"transform":["scale(0.3333333333333333)","scale(1)"]},"delay":0,"duration":5000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] Blue Rings

What are the CT deductions and allowances?

[{"selector":"#anim-6f1aa5ee-17c1-4316-8758-63b642264853","keyframes":{"opacity":[0,1]},"delay":0,"duration":5000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-f2300397-1400-4aac-989f-5077d7746d32","keyframes":{"transform":["scale(0.3333333333333333)","scale(1)"]},"delay":0,"duration":5000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] Blue Rings

What are the CT penalties?

[{"selector":"#anim-c069dad4-4812-478b-a96f-4e272f1dfdb9","keyframes":{"opacity":[0,1]},"delay":0,"duration":5000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-5518013b-ad56-443b-a516-5fc0ed2f897e","keyframes":{"transform":["scale(0.3333333333333333)","scale(1)"]},"delay":0,"duration":5000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] Blue Rings

Conclusion

[{"selector":"#anim-0b75f378-b584-436c-b671-ac959e916b19","keyframes":{"opacity":[0,1]},"delay":0,"duration":5000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-6c66a718-e524-48de-b2ea-000b943d9e62","keyframes":{"transform":["scale(0.3333333333333333)","scale(1)"]},"delay":0,"duration":5000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] Blue Rings

Additional resources

[{"selector":"#anim-dd718817-dae2-4e25-84b6-e51c5c12f0cb","keyframes":{"opacity":[0,1]},"delay":0,"duration":1200,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-1fd41097-3fad-4aa8-9323-dac2196a8625","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-52cb42a9-6c61-4ff9-be82-98020ecc2631","keyframes":{"opacity":[0,1]},"delay":0,"duration":5000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-3e0c5d75-3d8a-4334-8506-d9dfd2685b96","keyframes":{"transform":["scale(0.3333333333333333)","scale(1)"]},"delay":0,"duration":5000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] .................................................. Blue Rings

Get the best Corporate TAX registration Service in UAE

[{"selector":"#anim-d3dc7f6a-70ad-4990-b425-89c68a710f87","keyframes":{"opacity":[0,1]},"delay":0,"duration":1200,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-1b5b4fe1-a13d-47a5-9b91-ff859be04987","keyframes":{"opacity":[0,1]},"delay":0,"duration":5000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-e01dd578-e9d0-49e6-87b0-30ed3465700b","keyframes":{"transform":["scale(0.3333333333333333)","scale(1)"]},"delay":0,"duration":5000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] Blue Rings Learn more

All About UAE Corporate TAX

Who is subject to CT?

All businesses that are incorporated in the UAE, or that have a permanent establishment in the UAE, are subject to CT. This includes free zone entities, but there are some exceptions.

What are the CT requirements?

Businesses that are subject to CT must register with the Federal Tax Authority (FTA) and file a CT return each year. The CT return must be filed within 9 months of the end of the financial year.

What are the CT deductions and allowances?

– Business expenses – Depreciation – Bad debts – Capital allowances

What are the CT penalties?

Businesses that fail to comply with the CT requirements may be subject to penalties. These penalties can be severe, so it is important to make sure that you are aware of your CT obligations.

Conclusion

The UAE CT regime is a relatively simple system. However, there are a number of things that businesses need to do to comply with the requirements. If you are unsure about your CT obligations, you should seek professional advice.

Additional resources

– Federal Tax Authority (FTA): https://tax.gov.ae/en/ – Corporate Tax FAQs: https://mof.gov.ae/corporate-tax-faq/ – Corporate Tax Law: https://tax.gov.ae/en/taxes/corporate.tax/corporate.tax.topics/what.is.corporate.tax.aspx

Get the best Corporate TAX registration Service in UAE