UAE Corporate Tax

In simple words, Corporate Tax refers to a part of company’s net profits paid to the revenue authority of the country in which an entity conducts business. However, that net profit is first converted into taxable net profit through certain tax adjustments as prescribed in the legislation. In most of the jurisdictions of the world, a progressive taxation system works where different slabs of income are subject to different Corporate Tax rates.
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When will UAE Corporate Tax regime become effective?

The UAE Corporate Tax regime will become effective for financial years starting on or after 1 June 2023.

Example: A business that has a financial year starting on 1 July 2023 and ending on 30 June 2024 will become subject to UAE Corporate Tax from 1 July 2023 (which is the beginning of the first financial year that starts on or after 1 June 2023). A business that has a (calendar year) financial year starting on 1 January 2023 and ending on 31 December 2023 will become subject to UAE Corporate Tax from 1 January 2024 (which is the beginning of the first financial year that starts on or after 1 June 2023).

Specific guidance is yet to be provided by the FTA on how a company registering for Corporate Tax may choose its financial year. However, it is presumed that this choice shall be made by the company at the time of registering for Corporate Tax.

The UAE Corporate Tax regime will become effective for financial years starting on or after 1 June 2023.

Example: A business that has a financial year starting on 1 July 2023 and ending on 30 June 2024 will become subject to UAE Corporate Tax from 1 July 2023 (which is the beginning of the first financial year that starts on or after 1 June 2023). A business that has a (calendar year) financial year starting on 1 January 2023 and ending on 31 December 2023 will become subject to UAE Corporate Tax from 1 January 2024 (which is the beginning of the first financial year that starts on or after 1 June 2023).

Specific guidance is yet to be provided by the FTA on how a company registering for Corporate Tax may choose its financial year. However, it is presumed that this choice shall be made by the company at the time of registering for Corporate Tax.

Why is the UAE Introducing Corporate Tax?

FTA FAQs: A competitive Corporate Tax regime based on international best practices will cement the UAE’s position as a leading global hub for business and investment and accelerate the UAE’s development and transformation to achieve its strategic objectives. Introducing a Corporate Tax regime reaffirms the UAE’s commitment to meeting international standards for tax transparency and preventing harmful tax practices

Latest Publications

Overview of the Accounting BPO Market in GCC

UAE Corporate Tax CFO Compendium 2023

Events & Conferences

Corporate Tax Webinar

AJMS Global held a webinar on UAE Corporate Tax implications for Exchange Houses on 04 January 2023.

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UAE Corporate Tax

When will UAE Corporate Tax regime become effective?

The UAE Corporate Tax regime will become effective for financial years starting on or after 1 June 2023.

Specific guidance is yet to be provided by the FTA on how a company registering for Corporate Tax may choose its financial year. However, it is presumed that this choice shall be made by the company at the time of registering for Corporate Tax.

The UAE Corporate Tax regime will become effective for financial years starting on or after 1 June 2023.

Specific guidance is yet to be provided by the FTA on how a company registering for Corporate Tax may choose its financial year. However, it is presumed that this choice shall be made by the company at the time of registering for Corporate Tax.

Why is the UAE Introducing Corporate Tax?

Latest Publications

Overview of the Accounting BPO Market in GCC

Overview of the Accounting BPO Market in GCC

UAE Corporate Tax CFO Compendium 2023

UAE Corporate Tax CFO Compendium 2023

Events & Conferences

Corporate Tax Webinar

Company Overviews

Apply For Jobs

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Services

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UAE Corporate Tax

When will UAE Corporate Tax regime become effective? ​

The UAE Corporate Tax regime will become effective for financial years starting on or after 1 June 2023.

Specific guidance is yet to be provided by the FTA on how a company registering for Corporate Tax may choose its financial year. However, it is presumed that this choice shall be made by the company at the time of registering for Corporate Tax.

The UAE Corporate Tax regime will become effective for financial years starting on or after 1 June 2023.

Specific guidance is yet to be provided by the FTA on how a company registering for Corporate Tax may choose its financial year. However, it is presumed that this choice shall be made by the company at the time of registering for Corporate Tax.

Why is the UAE Introducing Corporate Tax?

Latest Publications

Overview of the Accounting BPO Market in GCC

Overview of the Accounting BPO Market in GCC

UAE Corporate Tax CFO Compendium 2023

UAE Corporate Tax CFO Compendium 2023

Events & Conferences

Corporate Tax Webinar

Company Overviews

Apply For Jobs

Quick Links

Services

Industries

Head Office

Select Location

When will UAE Corporate Tax regime become effective?