Category: Corporate Tax

The UAE Ministry of Finance (MoF) has released two new decisions that together specify the main features of the corporate tax regime as it applies to juridical persons operating out of free zones in the UAE. The Free Zone Corporate Tax regime is available to ‘Free Zone Persons’, which refers to a juridical person that […]

Taxable persons with annual revenues of AED 50 million and above are required to prepare and maintain audited financial statements as per Ministerial Decision No. 82 of 2023 issued by the Ministry of Finance. Audit is compulsory also for the qualifying free zone persons irrespective of annual revenue. In other words, Qualifying Free Zones can […]

UAE announces corporate tax relief for small businesses Main points: Resident taxable persons can claim Small Business Relief where their revenue in the relevant and previous tax periods is below AED3 million per year. The Relief covers the period from 1 June 2023 to 31 December 2026. Revenue can be determined based on the applicable […]

The proposed UAE Corporate Tax will have transfer pricing rules which will ensure that the price of a transaction is not influenced by the relationship between the parties involved in the transaction. In view of this, the UAE will apply the Arm’s Length principle to transactions between related parties and with connected persons. Hence the […]