The Ministry of Finance has announced the introduction of a 9% federal corporate tax in the UAE on business profits with a threshold of AED 375,000. This update will become effective from the financial year beginning 1st June 2023. The UAE corporate tax rate is amongst the...
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VAT EXPLAINED Gulf Co-operation Council (GCC) countries have agreed ‘in principle’ to the GCC VAT Agreement to implement VAT (Value Added Tax) in the region. VAT is a type of indirect tax and the most common type of consumption...