Introduction – Transitional Rules under UAE Corporate Tax Transitional Rules provide guidance for transitioning from the existing legal system to the new legal framework. The Transitional Rules set here enlist the provisions that are required to be implemented to transition smoothly from the pre-UAE Corporate Tax Law system to post UAE Corporate Tax Law regime. … Read more
Introduction – Closing Provisions under UAE Corporate Tax The closing provisions details the supplementary part of a legislation and addresses the miscellaneous aspects of a legislation such as publication of the Act, administrative policies, delegation of powers and so on. Article 62: Delegation of Powers under UAE Corporate Tax Law Delegation of powers means to … Read more
Introduction – Chapter 5 – Free Zone Persons under the UAE Corporate Tax Law Free Zones, referred to as Free Trade Zones, are created to facilitate single-window- administration for the convenience of foreign investors while promoting global trade. Free Zones in the UAE are either associated with ports or are industry specific. The UAE has … Read more
Introduction – Chapter 4 Taxable Person and Corporate Tax Base under UAE’s Corporate Tax Law The quintessence of a taxation regime is to determine its applicability. It is important to determine who is a Taxable Person under the UAE Corporate Tax Law because Corporate Tax is to be paid by a person recognised as a … Read more
Introduction – Chapter 2 – Imposition of UAE Corporate Tax and Applicable Tax Rates One of the most important provisions in the UAE Corporate Tax Law is the rate of Corporate Tax to be levied on Taxable Persons and its respective applicability to various entities operating in the UAE. According to the UAE Corporate Tax … Read more
Chapter 1: General Definitions under the UAE Corporate Tax Law As per Article 1 of Chapter 1 of the UAE Corporate Tax Law provides the definitions of terms used in it so as to aid in its better understanding and effective implementation and application of its provisions. Some of these are: Term Definitions Authority The … Read more
Introduction – Chapter 17 Tax Returns and Clarifications under UAE Corporate Tax law A Tax Return is filed by the Taxable Person for a particular Tax Period with respect to information of its Corporate Tax Liability and payment thereof. The Tax Return, also referred to as a UAE CT Return, is to be filed within … Read more
UAE Corporate Tax Law Procedures The UAE’s Federal Tax Authority (FTA) has released a comprehensive guide that outlines the UAE Corporate Tax Law Procedures which detail the tax administrative and enforcement procedures necessary for the effective implementation of the UAE Corporate Tax Law . As of March 1, 2023, the Decree Law on Tax Procedures … Read more
Introduction to Small Business Relief under UAE Corporate Tax Article 21 of the UAE Corporate Tax Law provided that small businesses below a particular revenue would be exempt from UAE Corporate Tax. Vide Ministerial Decision No. 73 of 2023 on Small Business Relief for the Purposes of Federal Decree-Law No. 47 of 2022, the UAE … Read more
Introduction Tax Registration is necessary under the UAE Corporate Tax Law for implications of corporate tax to be levied on entities. The Ministry of Finance, UAE has issued a decision underlining certain specific entities that do not have to register for Corporate Tax and are exempted. Exemption from Tax Registration under UAE Corporate Tax Law … Read more