To assess what the UAE CT regime means for your business, as a starting point, you should:
- Read the Corporate Tax Law and the supporting information available on the websites of the Ministry of Finance and the Federal Tax Authority.
- Use the available information to determine whether your business will be subject to UAE CT and if so, from what date.
- Understand the requirements for your business under the Corporate Tax Law, including, for example:
- Whether your business needs to register for UAE CT.
- What is the accounting / Tax Period for your business.
- By when your business would need to file a UAE CT return.
- What elections or applications can or should your business make for UAE CT Law purposes.
- How UAE CT may impact your business’ obligations and liabilities under contracts with customers and suppliers.
- What financial information and records your business will need to keep for UAE CT purposes.
- Regularly check the websites of the Ministry of Finance and the Federal Tax Authority for further information and guidance on the UAE CT regime.
Leave A Comment