Effect of UAE Corporate Tax Law on International Businesses
UAE introduced the corporate tax regime this year on June 1st at a rate of 9%, which is quite lower than the other GCC countries, which still helps the UAE hold its position as the best ground for international business and investors. The main aim of the introduction of this new regime is to reduce the dependency of the countries on income from oil and gas and to diversify the sources of income for the authorities. The introduction of CT in the UAE has resulted in a threefold increase in the compliance requirements for businesses, opening a new tax era…