UAE Corporate Tax A Beginner’s Guide By CA Avinash Gupta, CA Naveen Sharma, CA Uttam Patel Edition July 2023

Knowledge workers have to be continuous learners as they are required to use the latest information and knowledge in their work. Accountants and Tax Consultants dealing with corporate enterprises in the United Arab Emirates (UAE) currently face such a situation. A new legislation introducing Corporate Tax in UAE has been released vide Federal Decree Law No. 47 of 2022 titled Taxation of Corporations and Businesses on 9th December 2022. The important Provisions laid out in the document include imposition of corporate tax and applicable rates, exempt person, taxable person, corporate tax base, free zone person, calculating taxable income, exempt income, reliefs, deductions, calculation of corporate tax payable, payment and refund of corporate tax, tax returns, violations and penalties.

As part of delegated legislation, lot of Cabinet decisions, Ministerial decisions and FTA decisions has been issued and this book includes all of them issued till 03-06-2023. This prompted us to make an effort to present the UAE CT Law in a very simplified and lucid manner so that it can be easily understood. This is the first attempt of its kind and has been written in a unique simple easy to understand and language that enables a quicker grasp for the reader. It will definitely facilitate the learning process required for the implementation of the new law. It is a timely service being provided to the accounting community.

This book is not possible without the support of our team. Special thanks to CA Swamy Manikanta Burri and CA Deepanshu Mutreja for their continuous support. We will be failing in our duty if we do not acknowledge the motivation of Mr. Abdulla AL Otaiba, CA Anu Thomas and CA Monish Mohan and our family.

We dedicate this book to the people of UAE for better understanding of UAE CT Law. Suggestions and criticism from all readers would be highly appreciated and acknowledged.

Schedule 1 List of Designated Free Zones in UAE