Dubai Chamber briefs businesses about corporate tax requirements


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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