In recent years, the UAE has implemented a series of tax reforms to align with international markets and diversify its revenue streams. With the UAE Ministry of Finance introducing federal Corporate Income Tax (CIT) on business profits, businesses will become subject to UAE corporate tax from the start of their first financial year beginning on or after June 1, 2023.
The scope of the CIT is extensive, and it encompasses all businesses and individuals engaged in business activities within the UAE, including businesses in free zones. Income generated from individuals within free zones is categorised into qualifying and non-qualifying income, the latter is subject to a nine percent CIT.
To provide a comprehensive understanding of the UAE's corporate tax rules concerning free zones, tax expert Amar Mehra from Kaplan Professional Middle East (KPME) uses real-world case studies to help dissect the legislation and its impact on businesses in the free zones. Access the free tutorial here.
Amar Mehra, Head of Tax at KPME sheds some light on CIT: "As the leading provider of educational services around the world, we at Kaplan are absolutely thrilled to offer internationally recognised diplomas in corporate tax and VAT to assist the UAE in cementing its commitment to meeting international standards for tax transparency and preventing harmful tax practices."
With the completion of multiple successful batches since the launch of our tax diplomas, Kaplan has helped learners achieve their career goals and obtain the necessary business-critical knowledge to help minimise the impact of the rapidly changing tax environment on their businesses.
The feedback from the participants has been overwhelmingly positive, reaffirming the value and impact of their training. Zosima, a dedicated candidate in the corporate tax programme, enthusiastically shared her experience. She expressed: "I had a great experience learning UAE corporate tax from Kaplan. Our trainer was excellent at making a complex subject such as corporate tax easy to digest and comprehend. I learned a lot in the process, and I feel like I could already teach UAE corporate tax right now. Some parts of the UAE corporate tax legislation are yet to be published, and Kaplan is kind enough to provide us with access to their LMS - an online learning portal for an extended period. Thank you, Kaplan, for a fruitful and pleasant journey towards learning UAE Corporate Income Tax."
If you would like to know what Kaplan does, please register for its upcoming webinar on September 20, 4:30 pm to 5:00 pm for free. Register here
Kaplan offers a comprehensive range of end-to-end training solutions for certification programmes, professional qualifications, financial skills, leadership, and behavioural development. They are an ACCA platinum approved learning partner and content provider, a platinum course provider of IMA, and an approved strategic partner of Gleim Exam Prep. Kaplan holds an industry-leading position in professional qualifications, encompassing CFA, ACCA, CMA, FRM, CFAB ICAEW, financial modelling and various diplomas including VAT, CIT, IFRS among others.
To find out more please contact at: info@kaplanme.com or call +971 4 554 6184.