A step towards more Transparent and Credible economy
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Implementations of Corporate Tax Law to Boost Transparency in UAE
The Ministry of Finance of the United Arab Emirates (‘UAE’) vide Federal Decree-Law No. (47) of 2022, dated 09 December 2022 has issued the Corporate Tax (‘CT’) Law, which will be effective from the financial year starting on or after June 01, 2023. The UAE Government has introduced the law to cement its position as a world-leading hub for businesses and investments. The introduction of CT would be helpful to meet international standards to bring transparency and prevent harmful tax practices
Almost every business registered in the UAE, either on the mainland or in the free zone, would be liable to register for CT purposes, and they would be responsible for submitting their annual CT return and paying the CT payment accordingly.

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