UAE Corporate Tax Update

The UAE Federal Tax Authority (FTA) has issued a new Cabinet Decision on Corporate Tax, effective from 1 March 2024.

Fast Facts:

• Federal Decree-Law No. 47 of 2022 – Corporate Tax (CT) Law issued in the UAE on 9 December 2022.
• Cabinet Decision No. 75 of 2023 – Administrative penalties for violations related to the application of Federal Decree-Law No. 47 of 2022 on the Taxation of Corporations and Businesses.

What’s new:

• Issuance of Cabinet Decision No. 10 of 2024 – Amendment to Cabinet Decision No. 75 of 2023 to the schedule of violations and administrative penalties.
• The newly issued Cabinet Decision takes effect today, 1 March 2024.

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