For me things are pretty complicated in UAE, I don’t understand wether I need to pay taxes on my Freezone company from 01/06/2023-01/06/2024 or does it start from beginning of 2024 till end of year. Need to mention that I fully qualify to pay taxes due to 3M and 375k rule. According to the official gov website:
Businesses will become subject to UAE Corporate Tax from the beginning of their first financial year that starts on or after 1 June 2023.
So in my case my Freezone company was established in October 2022 and would expire on October 2023. Does it mean that my financial year starts from 01/06/2023 till 31/06/2023?
Do I need to pay taxes from June 2023 or from beginning of 2024?
Is it only me or are things here really complicated?
Businesses will become subject to UAE Corporate Tax from the beginning of their first financial year that starts on or after 1 June 2023.
So in my case my Freezone company was established in October 2022 and would expire on October 2023. Does it mean that my financial year starts from 01/06/2023 till 31/06/2023?
Do I need to pay taxes from June 2023 or from beginning of 2024?
Is it only me or are things here really complicated?