We continue to analyze and share with you the specifics of taxation in the UAE. Let's focus on the general provisions of corporate tax. First and foremost, let's pay attention to the rates:
🔺 0% on taxable income up to AED 375,000 per year
🔺 9% on taxable income* exceeding AED 375,000 per year
*Taxable income includes income – expenses +/- adjustments.
When does the corporate tax come into effect? The answer to this question should be in your tax planning as a reminder. For the financial period (year)* starting from June 1, 2023, and after this date.
*The financial year is a 12-month period for which the taxpayer provides financial reporting.
Regarding reporting, note that the taxpayer must submit their tax return electronically within nine months after the end of the respective tax period. The tax payment should be made within nine months after the end of the relevant tax period (advance payments are not required).
🔺 0% on taxable income up to AED 375,000 per year
🔺 9% on taxable income* exceeding AED 375,000 per year
*Taxable income includes income – expenses +/- adjustments.
When does the corporate tax come into effect? The answer to this question should be in your tax planning as a reminder. For the financial period (year)* starting from June 1, 2023, and after this date.
*The financial year is a 12-month period for which the taxpayer provides financial reporting.
Regarding reporting, note that the taxpayer must submit their tax return electronically within nine months after the end of the respective tax period. The tax payment should be made within nine months after the end of the relevant tax period (advance payments are not required).