The UAE is implementing its corporate tax system, which is set to come into effect for financial years starting on or after 1 June 2023. This new system will have a significant impact on businesses operating in the UAE, as it will require them to pay taxes on their profits. As such, it is important for businesses to be aware of the implications and deadlines associated with this new system and ensure that they are compliant with all regulations. Corporate Tax will be levied at a headline rate of 9% on Taxable Income exceeding AED 375,000. Taxable Income below this threshold will be subject to a 0% rate of Corporate Tax.

Few important official documents are linked below for easy reference.