The UAE will introduce a federal corporate tax on business profits effective for financial years starting on or after 1 June 2023.
His Excellency Younis Haji Al Khoori, Undersecretary of Ministry of Finance (MoF), said: “As a leading jurisdiction for innovation and investment, the UAE plays a pivotal role in helping businesses grow, locally and globally. The certainty of a competitive and best in class Corporate Tax regime, together with the UAE's extensive double tax treaty network, will cement the UAE's position as a world-leading hub for business and investment. The introduction of a corporate tax regime will help the UAE achieve its strategic ambitions and incentivize businesses to establish and expand their activities in the UAE." With a standard statutory tax rate of 9% and a 0% tax rate for taxable profits up to AED 375,000 to support small businesses and startups, the UAE corporate tax regime will be amongst the most competitive in the world. See Announcement Comments are closed.
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March 2023
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