Quick rates and dates
Corporate income tax (CIT) rates Headline CIT rate (%) 9 Corporate income tax (CIT) due dates CIT return due date Under the UAE CT Law, all taxable persons are required to file a corporate tax return within nine months from the end of the relevant tax period. CIT final payment due date Under the UAE […]
Understanding how partnerships and family foundations are taxed in UAE
Limited and general partnerships Limited and general partnerships and other unincorporated joint ventures and association of persons will be treated as “transparent” for UAE CT purposes. A flow-through entity – also known as a “pass-through entity” or “fiscally transparent entity” – is a legal business entity where its profits flow directly to the investors/owners, and […]
Complete guide on income determination
Under the UAE CT Law, the accounting net profit (or loss) as stated in the standalone financial statements of a business is taken as the starting point for determining its taxable income. The law prescribes a number of key adjustments to the accounting net profit (or loss) in order to compute the taxable income. The […]
How is income in taxed under Corporate Tax?
Corporate Tax is imposed on Taxable Income earned by a Taxable Person in a Tax Period. Corporate Tax would generally be imposed annually, with the Corporate Tax liability calculated by the Taxable Person on a self-assessment basis. This means that the calculation and payment of Corporate Tax is done through the filing of a Corporate […]
What is Corporate Tax? – All you need to know about corporate tax in UAE
According to the UAE Federal Decree-Law No. 47 of 2022 on taxation of corporations and businesses (the “Corporate Tax Law”), businesses will become subject to UAE Corporate Tax from the beginning of their first financial year that starts on or after 1 June 2023. What is Corporate tax (CT)? Corporate tax is a form of direct tax […]
CT & EmaraTax Update
EmaraTax & Corporate Tax Update | 11-11-2022
Federal Tax Authority update on “EmaraTax” and the corporate tax… **The information’s are obtained from FTA recent update on website dated. 11 Nov 2022. EmaraTax is a modern tax administration ecosystem that integrates FTA with other government entities such as the Central Bank of the UAE and national technology-based programs, including UAE PASS, to […]