My current Tax Period Revenue is below AED 3 million, but I anticipate exceeding this threshold by the Tax Period's end. What should I do?

My current Tax Period Revenue is below AED 3 million, but I anticipate exceeding this threshold by the Tax Period’s end. What should I do?

If you anticipate that your Revenue will exceed AED 3 million in a Tax Period, you will no longer be eligible to elect for Small Business Relief for that Tax Period or any subsequent ones. You are not required to notify the Federal Tax Authority if you expect your Revenue to exceed AED 3 million. Ensure you maintain sufficient records for calculating your Taxable Income at the Tax Period’s end.

CONTACT US FOR TAX CONSULTANCY

Master UAE Corporate Tax: Explore our course!

Related Content for UAE Corporate Tax

Are Free Zone companies in UAE liable to Corporate Tax ?

Free Zone has distinct taxation system based on Qualifying Income and Excluded Income. It is therefore essential to know the kind of income taxable under UAE Corporate Tax Law for Free Zone companies.

Can you Split up your Business to claim Small Business Relief in the UAE?

If your business exceeds the Revenue Threshold limit for Small Business Relief, can you split up your business to claim Small Business Relief as per UAE Corporate Tax Law or will it constitute a Tax Crime punishable under the UAE Tax Procedures Law?

Who is a Taxable Person under UAE Corporate Tax Laws?

Are you a Taxable Person liable for Corporate Tax under the UAE Corporate Tax Law? Can an Exempt Person be considered as a Taxable Person?

50% Discount on our  UAE Corporate Tax Course