NEWSLETTER

WHAT IS CORPORATE TAX?

In June 2023 ministry of finance introduced corporate tax on the net profits of businesses.

corporate tax is applicable to the net profit and it should be filed annually

WHO SHOULD REGISTER FOR CORPORATE TAX?

In June 2023 ministry of finance introduced corporate tax on the net profits of businesses. UAE corporate tax should be registered by all the businesses or entities conducting business or who is having a license to conduct the business, however there is an exemption for corporate tax 

WHO ARE EXEMPTED

those businesses who are dealing with extraction of natural resources are exempted

from corporate tax and also corporate tax is exempted to personal income such as

salary, dividends. in short no personal income tax

CORPORATE TAX RATE

corporate tax rate is 9% if the business has net profit above 375,000 per annum

and importantly businesses having up to or less than 375,000 net profit per annum will not be taxed for 9%. will be filed for 0% per annum

FREEZONE ENTITY

Yes, a Free Zone Entity can enjoy a 0% corporate tax rate provided they have not elected to pay the standard UAE corporate tax rate of 9%. only if they are not conducting any businesses in mainland, however every freezone entity should register for corporate tax

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