The Ministry of Finance in the UAE implemented Corporate Tax on business profits, effective from June 1, 2023. According to the new rule, a basic statutory tax rate of 9% will be applied to corporate revenue over AED 375,000. The initiative was to encourage the establishment of small and medium enterprises in the UAE. However, the best way to understand and stay current on these tax policies is to seek assistance from Dubai corporate tax consultants who are well-versed in tax services and protocols. To learn more details about the CT on businesses in the UAE, reach out to the tax consultants at Shuraa Tax.
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