Businesses will become subject to the Corporate Tax Law, which will levy a standard tax rate of 9% for taxable business profits exceeding AED 375,000, from the beginning of their first financial year starting on or after 1 June 2023.
The Ministry of Finance has confirmed that the Federal Decree-Law on Corporate Tax is an important milestone in building an integrated tax regime that supports the strategic objectives of the UAE and enhances its global economic competitiveness.
