Do all companies need to register for corporate tax now or only whose taxable income is 375000 previous year. If there is no such bussiness still we need to register
Dear @MD SHORAB HOSSAIN - Businesses in the UAE will be required to pay Corporate Tax (Taxes on its income) at 9% on its taxable income above AED 375,000.
Thanks for providing a Great Information. My question: If i take a license for freelancing Maths teacher and does all my personal investments in Equity Market (stocks) with my savings bank account and earns income more than 10 Lakhs AED so will I be still liable to pay any tax on my capital gains?
Dear @Rukmani Vyas, Individuals will not be subject to UAE Corporate Tax on dividends, capital gains and other income earned from owning shares or other securities in their personal capacity. Thus, if entire investment is done in personal capacity, an individual will not be liable to tax on gains from transfer and periodical income from such securities as well.
So what I perceive, ibasically it is income tax on business income regardless of form of business(individual, AOP, company) and subject to income threshold....
I have one doubt . If any company earn profit 400000 aed per anum, the percentage will be calculated on 400000 or difference amount from 375000 to 400000?
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Thankew so much sir ❣️
Do all companies need to register for corporate tax now or only whose taxable income is 375000 previous year. If there is no such bussiness still we need to register
Sir, did you mean profit before tax should be more than 372k?
Yes
Dear @MD SHORAB HOSSAIN - Businesses in the UAE will be required to pay Corporate Tax (Taxes on its income) at 9% on its taxable income above AED 375,000.
Its not Profit Before Tax. Its TAXABLE INCOME which should be taken ino consideration.. Regulations to calculate Taxable income will be uploaded soon.
Thanks for providing a Great Information. My question: If i take a license for freelancing Maths teacher and does all my personal investments in Equity Market (stocks) with my savings bank account and earns income more than 10 Lakhs AED so will I be still liable to pay any tax on my capital gains?
Not applicable on personal or individual gains
Dear @Rukmani Vyas, Individuals will not be
subject to UAE Corporate Tax on dividends, capital gains and other income earned from owning shares or other securities in their personal capacity. Thus, if entire investment is done in personal capacity, an individual will not be liable to tax on gains from transfer and periodical income from such securities as well.
@@irfansahab1044 Yes
Sir corporate tax only applicable in Business entity what about Professional like CA, Advocate? Is it implement also or not in Uae?
So what I perceive, ibasically it is income tax on business income regardless of form of business(individual, AOP, company) and subject to income threshold....
Dear @jack rider, your understanding is correct.
I have one doubt .
If any company earn profit 400000 aed per anum, the percentage will be calculated on 400000 or difference amount from 375000 to 400000?
Hi @Fizz mmm2, the tax will be calculated on the difference amount, i.e., AED 25,000/-
difference amount i.e 25000*9%
Dear sir
Tax will be applicable if net profits exceed 375000 or turnover/income?
only if taxable Income Exceeds 375000!!. There will be certain adjustment in Net profits to calculate the taxable income.
net profit
9% tax is considered on turnover or profit ?
profit