New corporate tax in the UAE explained

On Monday the UAE announced it will introduce a new federal corporate tax on business profits in a landmark move that will reshape the economic landscape.

Co-hosts Mustafa Alrawi and Kelsey Warner answer the basics of how it will work, why now and what to expect when the tax goes into effect on June 1, 2023.

Later, they are joined by Anurag Chaturvedi, chartered accountant and chief executive of the Chartered House Tax Consultancy in Dubai.

He explains why the new tax regime is competitive for attracting multinationals and foreign direct investment, what consumers can expect and how businesses should be preparing.

In this episode:

UAE's new federal corporate tax regime (0m 38s)
Why is it happening now? (7m 04s)
How will this impact the UAE? (14m 32s)
The preparations a business needs to undertake (22m 21s)

 

Read more on our website:

• UAE to introduce federal corporate tax from June 2023

• Why employees will continue to pay no income tax in the UAE

• UAE labour law: Relaxed visa rules for jobseekers a radical shift for employment market

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