Corporate Tax - General Guide published on 11 September 2023
Federal Decree-Law No. 47 of 2022 on the Taxation of Corporations and Businesses (“Corporate Tax Law”) was signed on 3 October 2022 and was published in Issue #737 of the Official Gazette of the United Arab Emirates (“UAE”) on 10 October 2022. The Corporate Tax Law provides the legislative basis for imposing a federal tax on corporations and Business profits (“Corporate Tax”) in the UAE. On 11 September 2023, it issued General Guidance on Corporate Tax.
Purpose of the Guide
The guide published by FTA is to provide the possible readers, an overview of rules and procedures including the determination of the Corporate Tax base, the calculations, filings and to other related compliance requirements. It also assist them with most common questions businesses might have.
Details on the Guide
This guide should be read by those who want to know more about the Corporate Tax regime in the UAE. It is intended to be read in conjunction with the Corporate Tax Law, the implementing decisions, and other relevant guidance published by the FTA.
The guide is split into chapters by topic. This includes an initial chapter that explains where to seek further assistance should further questions arise based on the content of this guide, or on areas that are not specifically dealt with here. The Guide is available in the FTA portal and on our website 'Freebies' section.
The recent publication of the latest Corporate Tax Guide by the UAE Federal Tax Authority (FTA) underscores their ongoing dedication to providing clear and straightforward guidance. This exemplifies the FTA's structured and strategic approach in assisting businesses and individuals in effectively navigating the complex landscape of taxation within the UAE. The Ministry reminded that official sources of information on Federal Taxes in the UAE are MoF and FTA only. Therefore, analyses that are not based on official publications by MoF and FTA; or have not been commissioned by them, are unreliable and may contain misleading interpretations of the law.
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