For most companies operating in the UAE, FY 2024 is the first year of application of the UAE’s new corporate tax law. So there are certain key areas to consider as those companies prepare for their first tax return under the new regime (due by 30 September 2025 for companies with a financial year ending in December 2024).

These include the rules on qualifying free zone persons, the participation exemption regime, the taxation of passive income sourced in the UAE, transitional relief, transfer pricing documentation requirements, and the key elections and applications envisaged under the new law.

Our Dubai Team and Tax Practice break all this down – and more – in the document available here.