UAE Tax Guide 2024: Everything You Need to Know
Three Key Actions for Every Business
- Register for corporate tax from June 2023 onwards.
- Keep proper accounting records to meet legal requirements.
- File a corporate tax submission with the Federal Tax Authority (FTA) after your first taxable period.
Corporate Tax Rates in the UAE
The UAE Ministry of Finance introduces a tiered taxation policy:
- Tier 1: 0 percent Tax Rate for profits up to AED375,000.
- Tier 2: 9 percent Tax Rate for profits exceeding AED375,000.
- Tier 3: Different Tax Rate for large multinational companies with global revenue over AED3.5 billion.
Corporate Tax for Free Zone Companies
Discover exceptions for businesses in free zones, including the criteria for Qualifying Free Zone Person status and the Small Business Relief rule supporting start-ups and SMEs.
Calculating Your Taxable Profit
Understand how to calculate taxable profit, considering business-related expenses such as salaries, interest, entertainment, foreign branches, and exempt income sources.
Corporate Tax vs. VAT
Clarify the distinction between corporate tax and VAT, emphasizing the importance of compliance for businesses already registered for VAT.
UAE’s Newest Update on Corporate Tax
Stay informed about the administrative penalties effective from August 1, 2023, for violations of the corporate tax law. Guildhall’s experts guide you through compliance and offer support for a seamless transition.
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