Business Restructuring and its Implication in the UAE Corporate Tax Regime

  • News|Blog|International Tax|
  • < 1 minute
  • By Taxmann
  • |
  • Last Updated on 10 May, 2023

UAE Corporate Tax RegimeCA Shivam Sharma – [2023] 150 taxmann.com 165 (Article)

The UAE Corporate tax was introduced last year, i.e., on 9th December 2022 by Federal Decree Law no. 47 of 2022 through which a corporate tax regime is introduced in UAE, which previously was a tax haven for businesses as there was a “Nil” tax on the profits and gains earned in UAE except for the tax on profits earned from oil exploration.

The UAE Corporate tax will be implemented from the fiscal year commencing on 1st June 2023, i.e., Fiscal Year 1st Jan 2023 to 31st December 2023. Persons having taxable income of more than AED 3,75,000.00 will have to pay tax @ 9% and 0% taxation for persons whose taxable income is less than or equal to AED 3,75,000.00. There are some reliefs and exemptions given in UAE Corporate tax regime, like a relief to small businesses whose total revenue in the previous fiscal year and the current fiscal year doesn’t exceed AED 3 million.

Click Here to Read the Full Article

Disclaimer: The content/information published on the website is only for general information of the user and shall not be construed as legal advice. While the Taxmann has exercised reasonable efforts to ensure the veracity of information/content published, Taxmann shall be under no liability in any manner whatsoever for incorrect information, if any.

Leave a Reply

Your email address will not be published. Required fields are marked *

Everything on Tax and Corporate Laws of India

To subscribe to our weekly newsletter please log in/register on Taxmann.com

Author: Taxmann

Taxmann Publications has a dedicated in-house Research & Editorial Team. This team consists of a team of Chartered Accountants, Company Secretaries, and Lawyers. This team works under the guidance and supervision of editor-in-chief Mr Rakesh Bhargava.

The Research and Editorial Team is responsible for developing reliable and accurate content for the readers. The team follows the six-sigma approach to achieve the benchmark of zero error in its publications and research platforms. The team ensures that the following publication guidelines are thoroughly followed while developing the content:

  • The statutory material is obtained only from the authorized and reliable sources
  • All the latest developments in the judicial and legislative fields are covered
  • Prepare the analytical write-ups on current, controversial, and important issues to help the readers to understand the concept and its implications
  • Every content published by Taxmann is complete, accurate and lucid
  • All evidence-based statements are supported with proper reference to Section, Circular No., Notification No. or citations
  • The golden rules of grammar, style and consistency are thoroughly followed
  • Font and size that's easy to read and remain consistent across all imprint and digital publications are applied