Navigating Tax Laws: Exploring Corporate Tax Free Zones
From June 2023, Free Zone Businesses and Qualifying Free Zone Persons may be subject to either 0% or 9% corporate taxes depending on their qualifying income. On the mainland however, businesses which exceed AED 375,000 were previously subject to an average standard tax rate of 9% based on taxable income exceeding AED 375,000. UAE will soon implement this new tax policy brought forward by Federal Tax Authority (FTA) and Ministry of Finance- Corporate Tax in UAE which will become operational from June 2023. In the UAE, the legal corporate tax rate stands at 9%. In this session, we provide an…