May 11 2022

Ministry of Finance Launches Federal Corporate Income Tax Public Consultation

Source: IBFD Tax Research Platform News

The Ministry of Finance (MoF) has launched a digital public consultation on the federal corporate income tax applicable to financial years beginning on or after 1 June 2023. The objective of the public consultation is to gather feedback from the business community and other interested stakeholders on the design and implementation of the UAE corporate tax regime.

The MOF's public consultation document covers the following aspects:

  • taxable persons;
  • tax base;
  • calculation of taxable income;
  • transfer pricing;
  • international Tax Developments; and
  • administration.

Public comments must be submitted online by 19 May 2022, using the public consultation on corporate tax submission link available here. Comments received after this date or not submitted via the prescribed online submission form will not be considered.

The public consultation on the federal corporate income tax was published on 28 April 2022 on the MoF's official website and is accessible here.