corporate tax in the UAE

Here are some key points about corporate tax in the UAE:

Implementation Date:

• The UAE began implementing corporate tax in June 2023. This step was announced in December 2021.

Tax Rate:

• A tax rate of 9% is imposed on corporate profits exceeding AED 375,000.

Exemptions:

• Companies with profits below AED 375,000 are exempt from the tax.

• Companies operating in free zones and benefiting from tax incentives are exempt from corporate tax, provided they comply with applicable conditions.

Application:

• The tax applies to all business and commercial activities in the UAE, including foreign companies operating in the country.

• Businesses engaged in the extraction of natural resources are excluded.

Compliance and Reporting:

• Companies are required to submit annual tax returns and comply with reporting requirements set by tax authorities.

This information provides an overview of corporate tax in the UAE. If you need more detailed information or specific articles, I can help you find the appropriate sources.