Corporate Tax Law published

The UAE issued Federal Decree-Law No. 47 of 2022 on Taxation of Corporations and Businesses. Corporate tax will become applicable from the beginning of the first financial year that starts on or after 01.06.2023. The standard rate will be 9% for taxable income exceeding AED 375,000. Taxable income up to and including that threshold will be taxed at a rate of 0%.

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