Dubai Chamber briefs businesses about corporate tax requirements

Wednesday, September 28th, 2022 2:51pm

By ARN News Staff

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The business community is being briefed about the requirements and processes related to the UAE's upcoming corporate tax system.

The Dubai Chamber of Commerce has hosted a workshop for over 330 participants representing various economic sectors.

They were briefed on how to comply with the new tax requirements and plan for a smooth transition.

The session was organised in collaboration with the law firm Al Tamimi & Co.

The UAE plans to introduce corporate tax in June 2023 at a basic rate of 9 per cent on company profits exceeding AED 375,000, while a rate of 0 per cent will be calculated for companies whose profits fall below the threshold, in an effort to support startups and SMEs.

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