The UAE Ministry of Finance (MOF) announced the introduction of Federal Corporate Tax (CT) on business profits effective for financial years starting on or after 01 June 2023. The majority of businesses in the UAE align their Financial Year with the calendar year, running from 1 January to 31 December. For these companies, the CT law will come into effect on 1 January 2024. Recognizing the significance of this date, we recap the CT regime and list a few self-assessment questions to check if you are CT-ready.
