Event Details
The UAE's Ministry of Finance has announced that it will introduce a 9% federal corporate tax on business profits for financial years starting on or after 1 June 2023.
This development was expected following the OECD's agreement of a minimum corporate tax rate to achieve "a fairer distribution of profits and taxing rights among countries for the largest and most profitable multinationals".
Indeed the UAE's Minister of Economy confirmed at our annual conference back in October that the UAE would abide by the agreement. He also promised that existing fees for corporate activities would be simplified and reduced in parallel with the introduction of corporate tax.
So there is much to unpack in the recent announcements, and plenty for businesses to do in the next 16 months to prepare for the new regime.
To help our members understand their new obligations, we are convening a CEO Roundtable event on 24 February at which we will discuss - in the company of regional tax experts - the UAE's corporate tax plans and their implications for companies operating in the country.
Please note that this event is limited to senior-level executives and per invitation only. If you are not an existing member of The Economist Intelligence Corporate Network, but would like to learn how you can attend our events, please contact us.