What is Corporate Tax

Corporate Tax is a form of direct tax levied on the Taxable Income of corporations and other Businesses. Corporate Tax is sometimes also referred to as ‘Corporate Income Tax’ or ‘Business Profits Tax’ in other jurisdictions.

Corporate Tax is charged on a wide range of Business profits, and those subject to Corporate Tax in the UAE include not only companies but also certain partnerships, unincorporated entities and natural persons conducting a Business or Business Activities.

Corporate Tax is paid on an annual basis with reference to the Tax Period of a Taxable Person. A Tax Period is the Financial Year or part thereof for which a Tax Return needs to be filed. The Financial Year is the period of 12 months for which Financial Statements are prepared.1 Payment of Corporate Tax is due within nine months from the end of the applicable Tax Period.2

The UAE Corporate Tax regime applies to Tax Periods commencing on or after 1 June 2023.3

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