ALL YOU NEED TO KNOW ABOUT UAE's CORPORATE TAX LAW
The United Arab Emirates has issued a decree-law imposing a corporate tax at a 9% rate for taxable business income exceeding AED 375,000 (102,000 USD).
Profits up to and including the 102,000 USD threshold will be taxed at a 0 percent rate to support small businesses and start-ups.
the persons can be grouped into taxable, exempt and out-of-scope persons.
What I should know about UAE corporate tax law? ???
Is my business exempt from UAE corporate tax law?
By considering the scope of the UAE corporate tax law If your business activities fall under this list, your business is qualified to be exempted from UAE corporate tax law. Nevertheless, you need to prove compliance and adhere to tax filing and bookkeeping. ?
In recognition of the fundamental role of free trade zones in driving the nation’s economic transformation, the existing free zone entities will be eligible to benefit from a 0 % Corporate Tax rate on qualifying income.
Under the provisions of the Corporate Tax Law, Corporate Tax will NOT be applied to salaries or other personal income from employment, whether it is earned from work in the government, semi-governmental or private sector.
Interest and other personal income earned from bank deposits or savings programs are also not subject to Corporate Tax, as well as investment in real estate by individuals in their personal capacity.
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