Deferred Tax wrt to UAE Corporate Tax Law - Video

The Cabinet Decision No. 116 of 2022 that was issued on 30 December 2022 (effective 1 Feb 2023) and enforced within fifteen days from its publication (16 January 2023), requires that a standard rate of 9% will apply to taxable income exceeding a threshold of AED 375,000, and a rate of 0% will apply to taxable income not exceeding that threshold. Following the issuance of the Cabinet Decision that provide the rate and tax threshold, the tax law is deemed "enacted" as of 16 January 2023. Consequently, companies are required to evaluate the implications of deferred tax and calculate the estimated deferred tax for reporting periods ending on or after 16 January 2023 onwards.

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