• FTA services are only available through UAEPass! Register in UAEPass here

Quick Links

Close

Accessibility Options

Text Size
-A
A
A+
Listen to Page
Night Reading
On
Contrast

Color Themes

  • Blue
    (Default)

  • Gold

  • Green

  • Red

  • Grey

VAT calculator

TRN Verification

Status Check

Latest News

News
Page last updated:: Sunday, December 24, 2023

Federal Tax Authority issues guide outlining criteria to determine natural persons subject to Corporate Tax and their compliance requirements

Federal Tax Authority issues guide outlining criteria to determine natural persons subject to Corporate Tax and their compliance requirements Sunday, December 24,2023

Federal Tax Authority issues guide outlining criteria to determine natural persons subject to Corporate Tax and their compliance requirements

 

Abu Dhabi - 24 December 2023 – The Federal Tax Authority (FTA) has issued a new guide outlining the criteria to determine natural persons subject to the Corporate Tax Law, that came into effect on 1 June 2023.

 

The guide provides a comprehensive and simplified explanation and instructions for natural persons realising income in the UAE, enabling them to determine whether they are subject to Corporate Tax.

 

The FTA urged all concerned natural persons (individuals) realising income in the UAE, or conducting business – wholly or partly – in the UAE, to refer to the new guide, to familiarise themselves with the Corporate Tax Law, implementing decisions, and other relevant materials available on the FTA’s website:

 

https://tax.gov.ae//Datafolder/Files/Guides/CT/Taxation%20of%20natural%20persons%20-%2025%2011%202023.pdf

 

The FTA emphasised the importance of reading the guide in its entirety to gain a clear understanding of its comprehensive content and definitions outlined in the guide. The guide includes a range of practical examples that explain how the Corporate Tax Law applies to natural persons conducting business in the UAE whether they are resident or non-resident for Corporate Tax purposes.

 

The guide clarifies that a natural person must register for Corporate Tax purposes and obtain a Tax Registration Number if his total Turnover exceeds AED 1 million within a Gregorian calendar year as from calendar year 2024.

 

According to the guide, non-resident natural persons are subject to Corporate Tax in case where they have a permanent establishment in the UAE with a total Turnover of the permanent establishment exceeding AED 1 million within a Gregorian calendar year as from calendar year 2024

Related News

Do you find this content helpful ?

Yes No
Page last updated: : Dec 25 2023
Number of hits : 4747 hits