UAE – RNG Auditors Brief on Public Consultation – UAE Corporate Tax issued by MoF

On 31 January 2022, the Ministry of Finance announced that the United Arab Emirates (UAE) will introduce a federal Corporate Tax on Business profits effective for Financial Years starting on or after 1 June 2023.

The MOF has released a Public Consultation Document (PCD) outlining key aspects of the proposed UAE CT regime in detail, but neither purports to be the final legislation nor exhaustive in nature. The objective of such public consultation is to ensure that the proposed Federal Corporate Tax Law, implementing regulations, and related guidance is in line with global best practices and minimise the compliance burden for UAE businesses.

RNG Auditors has compiled all the significant elements into a document you can download here and via the image below.