Corporate Tax in UAE
The tax and compliance requirements of the majority of UAE firms are anticipated to completely alter with the adoption of corporate tax in the UAE. At NAS chartered Accountants, our dedicated tax team will offer the necessary support and solve your questions regarding corporate tax.
The UAE has decided to introduce Corporate Income Tax (CIT) on business profits in the country. It will be effective for financial years starting on or after June 2023.
The UAE is new to corporate tax and, as such, businesses will require the assistance of a consultancy that has an expert tax team. NAS chartered Accountants, a FTA approved tax agent, has a tax team of 50+ professional staff members, who have served more than 800 clients for tax services in the UAE. Being a member firm of NAS chartered Accountants, the company has global exposure and is in a position to help companies comply with CT once it becomes effective.
Corporate Tax in UAE: An overview
Corporate Tax in UAE: An overview
The United Arab Emirates, which is abode to the significant corporate gateway of Dubai, will continue to have one of the lowest corporate tax rates in the world. This proposal stems from the UAE’s intention to comply with international tax rules, reflecting similar efforts in other Gulf nations, while reducing regulatory burdens for UAE firms and protecting small businesses and start-ups.
Effective Date
The UAE has decided to implement corporate tax, which will enter into force for financial years beginning on or after June 1, 2023.