Overview of Fiscal Policy and Taxation in UAE
The UAE government has taken several steps to support the economy during the pandemic, including implementing stimulus packages and providing financial support to affected businesses. In 2020, the government launched an AED 256 billion ($70 billion) stimulus package that included measures such as fee exemptions, reductions, and…
Corporate Tax in UAE
The UAE Ministry of Finance has implemented Corporate Tax, a direct tax on the net income of corporations and other businesses, effective for financial years starting from June 1, 2023. Also known as "Business Profits Tax" or "Corporate Income Tax" in other regions, the Corporate Tax will have the world's lowest…
UAE Tax Planning in 2023
The UAE Ministry of Finance has announced that Value Added Tax (VAT) at a flat rate of 5% will be implemented on 1 January 2018 with some exceptions on essential goods such as basic food, healthcare and education. However, as the UAE prepares to introduce a new VAT system, there…
What is UAE Corporate Tax?
Corporate tax is a tax on the profits earned by companies and businesses in the UAE. The UAE government imposes corporate tax on both local and foreign companies operating in the country, with the exception of some free zones that offer tax exemptions. The UAE corporate tax rate is currently…
Overview of accounting tax regulation in UAE
The UAE has a relatively simple and straightforward taxation system, with no personal income tax and a flat corporate tax rate of 50%. However, there are still a number of taxes that businesses must be aware of, such as Value Added Tax (VAT), excise tax, and custom duties.…