India Outbound - Are Free Zone Companies Free from UAE Corporate Tax?

The applicability of the UAE Corporate Tax law from 1 June 2023 for free zone establishments has been the talk of the town concerning what will and will not fall under the free zone.

To comprehend its possible impact, speakers Lokesh Gupta, Associate Director, Tax and Transfer Pricing, and Nishit Parikh, Director, International Tax and MA Tax, provided a detailed breakdown of the recent announcement.

To accentuate, the speakers spoke about the free zone taxation updates and covered their possible implications. They spoke in-depth about the conditions for free zone companies to qualify as free zone companies. Also, stated the additional requirements for businesses to attract 0% Corporate Tax. The speakers also emphasized the importance of Maintaining Adequate Substance and gave key insights into achieving it.

Moreover, both speakers provided a detailed overview and summary of the Taxation of a Free Zone Person. Thoroughly covered a broad list of Qualifying and Non-Qualifying Activities and shared vital guidelines for Free Zone Entities.