According to the state news agency WAM, the government wants to introduce a federal corporate tax of 9 percent from June 2023. There would still be exemptions for, for example, income from real estate and other investments. Tax-free zones will also continue to exist.
Until now, the UAE has no federal corporate income tax. The emirates themselves do have the power to levy taxes. In practice, this means that only foreign banks and oil companies are currently taxed.
