UAE Federal Corporate Tax (CT) – Officially Published CT Legislation
November 17, 2023 ⚊ 1 Min read ⚊ Views 70 ⚊ BUSINESS
Following the public announcement of the introduction of Corporate Tax (CT) and the Frequently Asked Questions (FAQs) on 31 January 2022, and the release of the Public Consultation Document in April 2022, the Federal Decree-Law No. 47 of 2022 on the Taxation of Corporations and Businesses (Corporate Tax) Law has been published as of 9 December 2022.
The UAE Corporate Tax Law is Federal Decree-Law No. 47 of 2022 issued on 3 October 2022 and is formally effective 15 days after its publication in the Official Gazette. Corporate Tax law is applicable on business profits for financial years starting on or after 1 June 2023.
This article provides summary highlights of the new regime, as announced by the Ministry of Finance (“MoF”) and the Federal Tax Authority (“FTA”). It should be noted the rules align closely with the Public Consultation Document.
