Corporate Tax Law Latest Update 2023
Ministerial Decision No. 114 of 2023 at the Accounting Standards and Methods for the Purposes of Federal Decree Law No. forty seven of 2022 at the Taxation of Corporations and Businesses
Ministerial Decision No. 114 of 2023 on the Accounting Standards and Methods for the purposes of corporate tax stipulates that a Taxable Person shall apply the International Financial Reporting Standards (“IFRS”), if The Taxable Person derive Revenue that doesn’t exceed AED 50,000,000 (fifty million United Arab Emirates dirhams) for small and medium-sized entities
Whereas, Financial Statements refers to an entire set of statements as specified under the Accounting Standards applied by the Taxable Person, which include and is not limited to statement of income, statement of other comprehensive income, balance sheet, statement of changes in equity and cash flow statement.
Dubai Corporate Income Tax
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UAE Taxation
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Tax Services in UAE
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