Open Registry in Corporate Tax in U.A.E in 01 june 2023 >>> Correct.

The last date for registration is June 30, 2023 >>>> Wrong information, registration is open for periods exceeding 9 months, according to the company's financial period

The last date for registration is June 30, 2023 >>>> Wrong information, registration is open for periods exceeding 9 months, according to the company's financial period

There are facilities to postpone the imposition of taxes on small and medium-sized companies.... correct information.... if the total sales do not exceed 3 million dirhams

Do not let anyone deceive you and deal with specialists who give you the information honestly and without exaggeration

Corporate TAX .. CT

Corporate Tax Law

The Federal Decree-Law No. 47 of 2022 on the taxation of Corporations and Businesses ( Hereinafter Referred to as the Corporate Tax Law)

the Corporte Tax Law Provides the legislative basis for the introduction and implementation of a federal corporate Tax in UAE and is effective for Financial Years Starting on or after 01 june 2023.

What is Corporate Tax?

Coporate Tax is a from of direct tax levied on the net income of corporations and other Business.

Who is Subject to Corporate Tax?

Broadly Corporate tax applies to the following

UAE companies and other juridical Persons that are incorporated or effectively managed and controlled in the U.A.E.

Natural Persons who conduct a business or business activity in the UAE as specified in a Cobinet Decision to be issued in due course

Juridical Persons Established in a UAE Freezone Are also within the scope of Corporate Tax .

Exempt from Corporate Tax

Covernment Entities ... Automatical Exempt

Government controlled Entities That Are a Cabinet Decision ... Automatical Exempt

Extractive Businesses ... Exempt if notified to Ministry of Finance and meeting Certain Conditions

Non Extractive Natural Resource Business... Exempt if notified to Ministry of Finance and meeting Certain Conditions

Qualifying Public Benefit Entities .... Exempt if listed in a Cabinet Decision.

Publick Or private pension and social Security funds.... Exempt if applied to and approved by The Federal Tax Authority

Qualifying Investment Funds.... Exempt if applied to and approved by The Federal Tax Authority

Wholly owned and controlled UAE Subsidiaries of a Government Entity , a Government Controlled Entity, a Qualifying Investment fund, or a public or private Pension.... Exempt if applied to and approved by The Federal Tax Authority

Corportate Tax Rate

Corporate Tax will be levied at a headline rate of 9% on Taxable Income exceeding AED 375,000. Taxable Income below this threshold will be subject to a 0% rate of Corporate Tax.

Resident Taxable Persons

1 - Taxable income not exceeding 375,000 AED rate is 0 %

2 - Taxable Income Exceeding 375,000 AED Rate is 9 %

Qualifing Free Zone Persons

1 - Qualifying Income rate is 0 %

2 - Taxable Income That does not meet the Qualifying Income Definition rate is 9 %

Small Business Relief for the Purposes of Federal Decree-Law No. 47 of 2022 on the Taxation of Corporations and Businesses

Ministerial Decision No. 73 of 2023

For the purposes of the Small Business Relief referred to in Article 21 of the Corporate Tax Law (“Small Business Relief”), the Taxable Person’s Revenue threshold for the relevant Tax Period and previous Tax Periods shall be AED 3,000,000 (three million dirhams) for each Tax Period.

The threshold set out in Clause 1 of the Article shall apply to Tax Periods commencing on or after 1 June 2023 and such threshold shall only continue to apply to subsequent Tax Periods that end before or on 31 December 2026.

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