Caproasia.com | The leading source of data, research, information & resource for financial professionals, investment managers, professional investors, family offices & advisors to institutions, billionaires, UHNWs & HNWs. Covering capital markets, investments and private wealth in Asia. How do you invest $3 million to $300 million? How do you manage $20 million to $3 billion of assets? Caproasia - Learn more
This site is for accredited investors, professional investors, investment managers and financial professionals only.
You should have assets around $3 million to $300 million or managing $20 million to $3 billion.
United Arab Emirates Corporate Tax at 9% from 1st June 2023 for Both Onshore & Free Zone Companies, 0% Tax for Below $102,000 & 9% for Above $102,000
17th May 2023 | Hong Kong
United Arab Emirates (UAE) new corporate tax will be 9% from 1st June 2023 for both onshore & free zone companies, 0% taxable income for below $102,000 (AED 375,000) and 9% tax for above $102,000 (AED 375,000).United Arab Emirates: In January 2022, Ministry of Finance announced that it will introduce federal Corporate tax (CT) on the net profits of businesses. The tax will become applicable either on 1 July 2023 or on 1 January 2024, depending on the financial year followed by the business. CT will be applied across all the emirates.More info below.
“ United Arab Emirates Corporate Tax at 9% from 1st June 2023 for Both Onshore & Free Zone Companies, 0% Tax for Below $102,000 & 9% for Above $102,000 “
The 2024 Investment Day | 28/2 HK & 6/3 SG
Private Equity, Hedge Funds, Boutique Funds, Private Markets & more. Taking place on 28th February 2024 in Hong Kong, 6th March 2024 in Singapore.
Visit | Register here
The 2024 Family Office Summit20th March / 3rd April HK & 3rd / 10th April SG
Join 100+ single family offices & family office professionals in Hong Kong & Singapore
Links: 2024 Family Office Summit | Register here
United Arab Emirates (UAE) – The UAE is a constitutional federation of seven emirates. Abu Dhabi city is the capital of the UAE. Arabic is the official language of the UAE. Islam is the official religion in the UAE. The UAE is 4 hours ahead of GMT. The Arab Emirati Dirham (AED) is pegged to the US dollar (USD). 1 USD = AED 3.6725. The UAE passport holds the 1st position globally.
United Arab Emirates Corporate Tax at 9% from 1st June 2023 for Both Onshore & Free Zone Companies
UAE – Introduction about Corporate tax
According to the UAE Federal Decree-Law No. 47 of 2022 on taxation of corporations and businesses (the “Corporate Tax Law”), businesses will become subject to UAE Corporate Tax from the beginning of their first financial year that starts on or after 1 June 2023.
What is Corporate tax (CT)?
Corporate tax is a form of direct tax levied on the net income or profit of corporations and other entities from their business.
Objectives of CT
By introducing the CT, the UAE aims to:
cement its position as a leading global hub for business and investment
accelerate its development and transformation to achieve its strategic objectives
reaffirm its commitment to meeting international standards for tax transparency and preventing harmful tax practices.
CT will apply to:
all businesses and individuals conducting business activities under a commercial licence in the UAE
free zone businesses (The UAE CT regime will continue to honour the CT incentives currently being offered to free zone businesses that comply with all regulatory requirements and that do not conduct business set up in the UAE’s mainland.)
Foreign entities and individuals only if they conduct a trade or business in the UAE in an ongoing or regular manner
Businesses engaged in real estate management, construction, development, agency and brokerage activities.
Exemptions from CT
Below are the rules regarding exemptions from the corporate tax.
Businesses engaged in the extraction of natural resources are exempt from CT as these businesses will remain subject to the current Emirate level corporate taxation.
Dividends and capital gains earned by a UAE business from its qualifying shareholdings will be exempt from CT.
Qualifying intra-group transactions and reorganizations will not be subject to CT, provided the necessary conditions are met.
Additionally, CT will not apply to:
an individual earnings salary and other employment income, whether received from the public or the private sector
interest and other income earned by an individual from bank deposits or saving schemes
a foreign investor’s income earned from dividends, capital gains, interest, royalties and other investment returns
investment in real estate by individuals in their personal capacity
dividends, capital gains and other income earned by individuals from owning shares or other securities in their personal capacity.
As per Ministry of Finance, CT rates are:
0 per cent for taxable income up to AED 375,000
9 per cent for taxable income above AED 375,000 and
Federal Tax Authority (FTA) will be responsible for the administration, collection and enforcement of the CT. FTA will soon provide more references and guides about corporate tax and information on how to register and file returns on its website.
Managing $20 million to $3 billion. Investing $3 million to $300 million.
For Investment Managers, Hedge Funds, Boutique Funds, Private Equity, Venture Capital, Professional Investors, Family Offices, Private Bankers & Advisors, sign up today. Subscribe to Caproasia and receive the latest news, data, insights & reports, events & programs daily at 2 pm.
Join Events & Find Services
Join Investments, Private Wealth, Family Office events in Hong Kong, Singapore, Asia-wide. Find hard-to-find $3 million to $300 million financial & investment services at The Financial Centre | TFC. Find financial, investment, private wealth, family office, real estate, luxury investments, citizenship, law firms & more. List hard-to-find financial & private wealth services.
Have a product launch? Promote a product or service? List your service at The Financial Centre | TFC. Join interviews & editorial and be featured on Caproasia.com or join Investments, Private Wealth, Family Office events. Contact us at [email protected] or [email protected]Caproasia.com | The leading source of data, research, information & resource for financial professionals, investment managers, professional investors, family offices & advisors to institutions, billionaires, UHNWs & HNWs. Covering capital markets, investments and private wealth in Asia. How do you invest $3 million to $300 million? How do you manage $20 million to $3 billion of assets?
Caproasia.com is the leading financial media platform in Asia. Covering capital markets, investments and private wealth in Asia for 10,000 + elite users. Driving $25 trillion of assets in Asia.
Our users are rainmakers, dealmakers, risk takers and game-changers. Each manage, advise and invest $20 million to $3 billion of assets in Asia.