The United Arab Emirates will be introducing a federal corporate tax on business profits for the first time, the Ministry of Finance announced Monday.
The UAE announced in July its support for global tax standards and said Monday that its new 9% rate, which will come into effect in June 2023, would provide a basis to apply that support, though in the UAE many of these large corporations operate inside free zones and will remain exempt provided they don’t do business with the mainland.
We at Fair and Square will be helping you in understanding CT and complying to its requirements in advance.
1. Advance preparation of Corporate Tax Filling:
2. Preparation of Accounts according to the CT laws.
3. Maintaining the books in accordance to the CT laws to obtain an ideal record.