On 31 January 2022, the UAE Ministry of Finance (MoF) announced the introduction of a federal corporate tax (CT) in the UAE that will be effective for financial years starting on or after 1 June 2023.
The UAE CT regime will be based on international best practices, with a low / minimal compliance burden on businesses.
High level details on the proposed CT regime are set out in the press release and the Frequently Asked Questions (FAQs) published on the website of the MoF and the Federal Tax Authority.