We would like to inform you that UAE has introduced “Corporate Tax (CT)” effective for financial years starting on or after 1 June 2023 which is governed by UAE Federal Decree-Law No. 47 of 2022 on taxation of corporations and businesses signed on 3rd October 2022.
The new corporate tax law will have significant implications for businesses operating in the UAE particularly in its impact on profits, the transfer pricing rules on related and group company transactions etc.
As the announcement is based on the publications and analysis published until May 2023, it is recommended to periodically review the UAE tax Authorities official publications for any updates.
Our tax department is ready to advice and support our clients in order to comply with the new Tax Law in the UAE“Corporate Tax (CT)”, you can contact us if you need any clarification or assistance. Our tax professionals are able to tax registration, preparation of tax returns, and responding to any inquiries from tax authorities.
Do not hesitate to contact us,