The UAE’s Ministry of Finance announced that the minimum threshold for corporate tax will be from $100,000 to $816,000.
The decision is issued in accordance with Article 21 of the Corporate Tax Law, which treats the taxable person as not having derived any taxable income in a given tax period where the revenue did not exceed a certain threshold.
The Small Business Relief Law aims at supporting startups and other small or micro businesses by reducing the burden of corporate tax compliance costs.
The law will be enforced by the beginning of June 2023, and continue until the end of December 2026.
If you see something out of place or would like to contribute to this story, check out our Ethics and Policy section.