With the intention of achieving its strategic objectives and accelerated development and transformation, the Ministry of Finance (MOF) UAE in January 2022 has announced introduction of Corporate Tax regime that becomes effective for financial years starting on or after 1st June 2023.
Corporate Tax is a form of direct tax levied on the net income of corporation and other businesses. It is also otherwise known as “Corporate Income Tax” or “Business Profit Tax” in other jurisdictions.
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