September 2, 2022
Explained: What is corporate tax, how does it affect expats, entrepreneurs in the UAE?
Dubai: After the UAE finalised on Monday that it would implement corporate taxes from June next year, it’s vital to understand what this form of taxation simply means, and how it affects expats and entrepreneurs in the region.
How does this tax help expats, entrepreneurs?
Non-residents that conduct business in the UAE through a permanent establishment are subject to corporate tax from June next year. This is not a tax on individuals and their incomes, the UAE authorities have reaffirmed.
This means that corporate tax will not apply on an individual’s salary and other employment income (whether received from the public or private sector).
Corporate tax will also be paid by entrepreneurs or business owners in a range of industries, notably oil and banking – currently in place in several GCC countries. As a result, there are a wide range of government fees and levies imposed across all business sectors throughout the region.
source : https://gulfnews.com/
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