Starting from financial years on or after June 1, 2023, the United Arab Emirates (UAE) has implemented a Corporate Tax (CIT) as a strategic move to help the nation’s development as well as consolidate its position as a leading jurisdiction for business and investment.
Starting June 2023, businesses in the UAE are subject to Corporate Income Tax (CIT). UAE CIT applies at the rate of 9% or 0% on Qualifying Income if businesses are Qualifying Free Zone Persons (QFZPs) and provided other criteria relating to the activity carried out are fulfilled. A UAE business may also be liable to a Top-up Tax if it qualifies as a Multinational Enterprise (MNE) under the OECD Pillar 2 Solution once a Cabinet Decision is issued to confirm the entry of force in the UAE of the GloBE rules (the Ministry of Finance (MoF) launched a Public Consultation on Implementation of Global Minimum Tax in the UAE in March-April 2024).
Ramadan is regarded as a time of piety, charity, and blessings. Charities and foundations are noticeably more active during the Holy Month, providing assistance to those in need. In a spirit of generosity, meals are provided at mosques, malls, and other public places.
This is Aurifer’s reply to the Public Consultation initiated by the UAE Ministry of Finance (MoF)
regarding the implementation of potential measures favoring Research and Development (“R&D”)
embedded in the UAE Corporate Income Tax framework.
Our highly skilled and well-trained tax advisors guide you through your fiscal obligations in the Gulf.
We are your personal pragmatic partner in all of your ventures. Our international tax experience in policy and
implementation is exactly what you need for the changes lying ahead.
We have strengths in the financial, real estate and transport sectors and use an approach that allows us to understand any sector’s unique set of tax challenges.
At Aurifer, we pride ourselves on our training skills. Our experts have extensive training experience in multiple jurisdictions, having provided VAT training in UAE both to professionals and on an academic level. We provide general and sector specific training.
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