Amereller Legal Consultants
United Arab Emirates:
Corporate Tax In The UAE Free Zones – Clarification On The Qualifying Income And Substance Requirements For The Qualifying Free Zone Persons
07 June 2023
Amereller Legal Consultants
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Introduction
On the 1st of June 2023, provisions of the Federal
Decree-Law No. 47 of 2022 – Taxation of Corporation and
Businesses (further also as the 'UAE CT Law') entered into
force and became an immanent part of the UAE tax landscape. As a
result, the UAE has introduced corporate tax at the rate of 9% for
most taxpayers.
On the first day of June 2023, the Cabinet and the Minister of
Finance released for the public one of the most anticipated
decisions regarding the corporate tax regime for the companies
located in the UAE Free Zones1.
The UAE CT Law introduced a category of taxpayers that can be
subject to corporate tax at the reduced rate of 0% – the
Qualifying Free Zone Persons (QFZPs).
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The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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