Corporate Tax

What is Corporate Tax in UAE ?

Corporate Tax in the UAE is a tax levied on the profits of businesses operating within the country. The introduction of Corporate Tax will be effective from June 1, 2023, with a standard rate of 9% for businesses earning above AED 375,000 annually. The UAE’s corporate tax law is designed to incorporate world-class taxation practices aimed at fostering economic development, helping businesses comply with international standards, and preventing illegal tax practices.

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why conducting audits for a business is essential

Income Statement

This statement shows the company's revenues, expenses, and profits or losses over a specific period.

Balance Sheet

The balance sheet presents the company's assets, liabilities, and shareholders' equity at a specific point in time.

Cash Flow Statement

This statement details the inflows and outflows of cash within the company over a specific period.

Statement of Changes in Equity

This statement explains the changes in the company's equity during a specific period.

Notes to the Financial Statements

These are notes that provide additional detail to the figures in the financial statements.

Comprehensive Income Statement

This statement includes all changes in equity except those from investments by owners