EMT ACCOUNTING AND TAXATION SERVICES - UAE

  The UAE Ministry of Finance has recently made an announcement listing people who are exempt from registering for corporate tax.   AE Ministry of Finance has announced that certain persons are exempted from registering for Corporate Tax. And the Authority issued a Ministerial Decision No. 43 of 2023 on the Exemption from Tax Registration for the Purposes of Federal Decree-Law No. 47 of 2022 on the Taxation of Corporations and Businesses (“Corporate Tax Law”) in accordance with Article 51. Subject to corporate tax law.   Listed below are those that are covered under the UAE Corporate Tax Registration Exemption:   Government organizations among the exempted,   Government controlled entities,   Includes extractive businesses and non-extractive natural resource businesses that meet     the conditions required under the Corporate Tax Law Also exempt are: Non-resident individuals who derive income only from the UAE a...

  Corporate Tax (CT) in the United Arab Emirates. The United Arab Emirates (UAE) Ministry of Finance has published Federal Decree-Law No. 47 of 2022 providing the legislative framework for corporate tax on business profits in the UAE on 09 December 2022.   What is Corporate Tax (CT) in UAE? Corporate tax is a form of direct tax levied on the net income or profit of corporations and other entities from their business. The UAE introduced this tax with the aim of strengthening the country’s position as a leading global center for business and investment, in addition to accelerating the country’s development and transformation to achieve its strategic goals and renewing its commitment to meeting international standards of transparency tax and prevent harmful tax practices.   When will this be applicable?   Corporate tax will apply in the country for financial years starting on or after June 1, 2023, for example: Businesses whose financial year begins on Ju...