UAE to debut landmark 9% corporate tax as it awaits FATF grey list decision

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UAE to debut landmark 9% corporate tax as it awaits FATF grey list decision

The United Arab Emirates is to introduce a 9% corporate tax rate commencing on 1 June 1, 2023, while it awaits the FATF decision on its anti-money launding measures.  The move marks the first ever time it has actioned a federal corporate tax on business earnings. UAE's Ministry of Finance said in a statement that the corporate tax will not apply to personal income from employment, real estate, and other investments or to income earned from a business licensed outside of the UAE. The ...

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