UAE Corporate Tax Filing: Documents Needed and the Filing Process
The advent of corporate taxation has brought about a paradigm shift in the regulatory framework for businesses in the UAE. With the enforcement of Federal Decree-Law No. 47 of 2022, businesses are now required to register and file corporate tax returns. The Corporate tax filing UAE system is managed by the Federal Tax Authority (FTA), and it is applicable to financial years beginning on or after 1st June 2023. It is important to understand the necessary documents and the proper filing process to avoid any penalties. The Corporate tax filing UAE system is applicable to most mainland businesses, free zone businesses, and foreign companies that have a permanent establishment in the UAE. Although free zone businesses that qualify are eligible for a 0% corporate tax rate on eligible income, they are still required to register and file corporate tax returns. The standard corporate tax rate is 0% on taxable income up to AED 375,000 and 9% on taxable income above AED 375,000. Even businesses ...