FTA issues guide outlining criteria to determine corporate tax payers

FTA issues guide outlining criteria to determine corporate tax payers

The FTA urged all concerned natural persons (individuals) realising income in the UAE, or conducting business - wholly or partly - in the UAE, to refer to the new guide, to familiarise themselves with the Corporate Tax Law, implementing decisions, and other relevant materials available on the FTA's website.

The FTA emphasised the importance of reading the guide in its entirety to gain a clear understanding of its comprehensive content and definitions outlined in the guide. The guide includes a range of practical examples that explain how the Corporate Tax Law applies to natural persons conducting business in the UAE whether they are resident or non-resident for Corporate Tax purposes.

The guide clarifies that a natural person must register for corporate tax purposes and obtain a Tax Registration Number if his total turnover exceeds Dh1 million within a Gregorian calendar year as of calendar year 2024.

According to the guide, non-resident natural persons are subject to corporate tax in cases where they have a permanent establishment in the UAE with a total turnover of the permanent establishment exceeding Dh1 million within a Gregorian calendar year as of calendar year 2024.

FTA issues guide outlining criteria to determine corporate tax