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April 25, 2023
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Income Tax far from UAE

In a recent interview, UAE Minister of Economy Abdulla Bin Touq stated that Income Tax for UAE residents is off the charts!

As UAE gears to support economy with levy of Corporate Taxation from the beginning of their first financial year that starts on or after 1 June 2023 coupled with VAT introduced in January 2018, UAE corporate tax can be a challenging process for the Country!

He clarified that the large corporates who are earning huge profits, Government would levy a nine per cent corporate tax on companies earning Dh 375,000.  The UAE has introduced the lowest corporate income tax rate within the GCC region at a standard rate of 9%. 9% happens to be one of the lowest corporate tax rate in the world!