With effect from June 1, 2023, UAE the Federal Tax Authority (FTA) has released a revised handbook that outlines the standards for identifying natural people who are subject to the Corporate Tax Law.
For natural persons who are realizing revenue in the United Arab Emirates, the handbook offers a thorough and easy-to-understand explanation along with guidelines so they can decide if they have to pay corporate tax.
The FTA urged all interested natural persons (individuals) to familiarize themselves with the Corporate Tax Law, implementing decisions, and other pertinent materials available on the FTA’s website. This was especially important for those who were realizing income in the UAE or conducting business, either entirely or partially, in the country.
The FTA emphasized that in order to fully comprehend the guide’s extensive material and concepts, it is imperative that you read it from cover to cover. Whether a natural person conducting business in the United Arab Emirates is a resident or non-resident for corporate tax purposes, the handbook explains how the Corporate Tax Law applies to them using a variety of real-world scenarios.
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