On 12 May 2023, the Ministry of Finance (MoF) of the United Arab Emirates (UAE) 2023 issued an Explanatory Guide for Federal Decree-Law no. 47 of 2022 on Taxation of Corporations and Businesses (the CT Law) set to go live as of 1 June 2023.
The guide is a detailed walkthrough of every Article in the CT Law and subsequent Cabinet and Ministerial Decisions issued up to date with the aim of enhancing transparency and fairness in the tax system in the UAE.
Following the release of the guide, our Corporate Tax team held a 60-minute webinar on Thursday, 18 May 2023 at 11:00am (UAE time). During this session our experts discussed the highlights of the guide and shared their view on major challenges businesses might still face with an application of the CT Law.
