Government

The Federal Tax Authority (FTA) has successfully concluded an awareness workshop in Dubai on the Corporate Tax regime for Free Zone Persons, marking a key milestone in the second phase of its nationwide Corporate Tax Awareness Campaign. The workshop aimed to provide Free Zone Persons with valuable insights into the UAE’s Corporate Tax regime, particularly focusing on their obligations and the benefits they can access.

In a press statement, the FTA emphasized its commitment to supporting Free Zone Persons by offering guidance and resources to help them navigate the Corporate Tax system efficiently. The FTA reiterated the importance of Free Zones in driving sustainable economic growth and innovation, and its dedication to ensuring seamless tax compliance for businesses operating within these zones.

The workshop focused on clarifying the conditions under which Qualifying Free Zone Persons can benefit from a 0% Corporate Tax rate on their Qualifying Income. All Free Zone Persons, regardless of whether they qualify for the 0% tax rate, must still register for Corporate Tax. Income that does not meet the "Qualifying Income" criteria will be subject to the standard Corporate Tax rate of 9%. The workshop also detailed Qualifying Activities, Excluded Activities, and the procedures for tax registration, calculation, and filing of returns.

The FTA also reminded businesses that Resident juridical persons with licenses issued in July must submit their registration applications by 30 September 2024. Corporate Tax registration is available 24/7 through the "EmaraTax" platform, which allows users to complete the process efficiently.

As part of its ongoing efforts, the FTA has hosted over 40 events in the first half of 2024, engaging more than 8,220 participants, reflecting a 9.23% year-on-year increase in engagement. These initiatives have received positive feedback, with 97.5% of attendees expressing satisfaction with the FTA’s support.

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