Corporate Return Filing in UAE

On January 31, 2022 the Ministry of Finance of the United Arab Emirates (UAE) announce the of a federal Corporate Return Filing in UAE (“CT”) on business financial, effective from the financial year beginning June 1, 2023. Pursuant to the aforementioned declaration, the Ministry of Finance published a consultation document to collect and appraise the answers of stakeholders (“Consultation Document”) with regards to the most prominent features of the legislation and its implementation, ahead of the release of the draft CT law-making. The formal responses to the Consultation Document should be submit using this form by May 19, 2022. The Consultation Documentation can be viewed here. The collision of (CT)and UAE Excise Tax on the Emirate’s banking tax edict will be revealer in the coming months. The law will have an impact not just on overseas bank branches. But on household banks will be subject to corporation tax.