|
This paper includes information on the UAE federal Corporate Tax (“CT”) legislation to ensure that DMCC members are undertaking the necessary actions in order to comply with the UAE CT law. UAE Corporate Tax is effective for financial years starting on or after 1 June 2023. It now forms an important part of the UAE’s position as a leading global business hub, with a highly competitive fiscal framework, and regulations which leverage the best of international norms. However, as with any new legislation, businesses in the DMCC may be asking what UAE CT means for them? |
|
- All DMCC registered or incorporated entities will need to register and comply with CT obligations.
- Many DMCC entities may benefit from 0% CT on Qualifying Income if they meet certain to be a Qualifying Free Zone Person. Other income may be subject to 9% CT.
- Qualifying Income includes: 1. Income from transactions with other Free Zone Persons except from Excluded Activities. 2. Income from transactions with non-Free Zone Persons only in respect of Qualifying Activities that are not Excluded Activities. 3. Income der... |