Download the Zyla December newsletter! This year’s edition features our CEO Suzy Kerton CA, as well as some great news for the firm and a focus on the latest tax and compliance updates as well as the most popular recent material from the Zyla Accountants website!

Resident Juridical Persons with Licences issued in October and November are encouraged to submit their Corporate Tax registration application no later than 30 November 2024, advises the Federal Tax Authority (FTA).

By offering a favorable tax environment for entities operating within designated free zones, the UAE's free zone specific corporate tax rules aim to stimulate economic growth. By offering a 0% tax rate on qualifying income, the rules provide a significant advantage.

Corporate Tax is a tax companies pay on their profits, which are calculated as total revenue minus allowable expenses.

FTA has reminded Resident Judicial Persons with licences issued in June to submit their Corporate Tax applications by August 31, 2024, regardless of the year of issuance.

The Federal Tax Authority (FTA) continues to implement educational events and programmes, targeting various groups and entities involved in the application of Corporate Tax, as part of the second phase of its comprehensive campaign to promote awareness of Corporate Tax among business sectors.