Coming into effect from June 2023, the UAE's new Corporate Tax will apply to businesses with at least AED 375,000 profit per year - a 9% tax will be implemented.
What is exempt from the UAE's Corporate Tax?
The Corporate Tax will not apply to:
- Working residents' salaries
- Government entities' activities (with the exemption of business activities)
- Qualifying Free Zone businesses
- Investment funds
- Pension funds
- Public organisations
- Personal income from bank deposits
- Foreign exchange gains
- Savings programmes