UAE CT – Public Consultation Document issued by the Ministry of Finance, UAE

The Ministry of Finance has come out with UAE CT Public Consultation Document. The document seeks views of UAE business community on various aspects highlighted therein. The responses are required to be submitted before 19th May 2022. The objective behind this Corporate Tax - Consultation Document is to make sure that CT regime is business-friendly and the transition is smooth.

The Ministry of Finance announced on 31st January 2022 that the United Arab Emirates will now have a Federal Corporate Tax which shall be effective from 1st June 2023. The prime intention is to ensure that the transition integrates the best practices and reduces the compliance burden. Also, it aims to achieve strategic goals and incentivise businesses to begin and develop activities and become a leading investment destination.

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