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On January 31, the United Arab Emirates’ Ministry of Finance announced the implementation of a federal corporate tax regime at a standard nine percent rate, which will apply to relevant businesses from June 2023.
While complying with international standards, UAE has very carefully balanced its obligations and interests to remain a location of choice for foreign direct investments in the Middle East.
The competition for being a regional business hub is fierce, given that giant neighbor Saudi Arabia also has set up initiatives to own a large portion of the market. With a corporate tax of nine percent, large deduction and tax losses rules, and generous foreign tax credits, UAE is increasing its attractiveness as a compliant yet friendly tax country.
In comparison, Saudi Arabia's corporate tax rate is 20%, Egypt’s is 22.5%, Oman and Kuwait offer a 15% rate, and Qatar’s is 10%.
In this video Rusudan, our Chief Financial Officer shares all the details of what UAE's 9% tax means.
Andrew Henderson and the Nomad Capitalist team are the world's most sought-after experts on legal offshore tax strategies, investment immigration, and global citizenship. We work exclusively with seven- and eight-figure entrepreneurs and investors who want to "go where they're treated best".
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DISCLAIMER: The information in this video should not be considered tax, financial, investment, or any kind of professional advice. Only a professional diagnosis of your specific situation can determine which strategies are appropriate for your needs. Nomad Capitalist can and does not provide advice unless/until engaged by you.