Date and Time:
June 9, 2022 10:30 am - 12:00 pm
United Arab Emirates (UAE) has announced the introduction of Corporate Income Tax on 31 January 2022. As a signatory to the Two Pillar package driven by the Organization for Economic Co-operation and Development (OECD), UAE has introduced the Corporate Tax (CT) in line with the Global Minimum Tax Proposal under Pillar 2. Recently, the UAE Federal Tax Authority also issued public consultation document covering various aspects of the proposed law for receiving comments from business community and other interested stakeholders.
In a Nutshell:
- It is proposed to implement Corporate Tax for the Financial Year beginning on or after 1 June 2023.
- The proposed tax rate is 9% for taxable income above 3,75,000 AED and would provide a differential tax rate for large multinationals that meet the minimum tax criteria specified under ‘Pillar 2’ Proposal.
- These provisions would also apply to Free Zone Companies having business with Mainland UAE.
- Registration and compliance requirements for companies in the Free Zone.
With the above development, businesses in UAE would be required to align their policies, tax positions, and structure as per the evolving tax landscape in the region.
Our speakers would delve into various aspects of the consultation paper and in its impact on the corporates. They would also cover aspects which corporates should consider and be prepared before the law is implemented.
Date: June 9, 2022
Time: 10.30 AM – 12.00 PM (UAE Time)
- Trupti Mehta
- Nishit Parikh
Sudit K Parekh & Co. LLP