Corporate Tax is a tax companies pay on their profits, which are calculated as total revenue minus allowable expenses.

Startup entrepreneurs and small business owners around the world are brilliant at creating unique products, delivering unique services, and building effective teams. In spite of this, many will need expert support when it comes to learning the basics of bookkeeping. Profit is one of the most important factors for small business owners.

Residents with licences issued in May (regardless of the year of issuance) are urged to register for Corporate Tax by 31 July 2024. Based on the timeline specified in Federal Tax Authority Decision No. 3 of 2024 regarding registration of taxable persons for corporate tax purposes of Federal Decree-Law No. The Taxation of Corporations and Businesses Act of 2022 and its amendments took effect on 1 March 2024.

Individuals with Corporate Tax licenses issued in March or April (regardless of the year of issuance) are reminded to submit their registration applications by June 30, 2024, to avoid penalties.

The UAE is a great place to start a business. With plenty of commodities, convenient access to flights and travel, and a wealth of talent available for hire, it's no surprise that Brits are turning to Dubai to start a business.

Emirates authorities recently provided an update on the timeline of Corporate Tax registration, which UAE entities eligible to be registered should know.