UAE govt to charge corporate tax on business profits from June 2023

UAE, known as a tax haven and the regional headquarters for many multinational corporations, will tax business profits of over 3,75,000 dirhams (approximately ₹76.18 lakh) at 9% from June 2023. The move would pave the way for the introduction of a global minimum tax rate, UAE government said. UAE earlier switched Friday-Saturday weekends to Saturday-Sunday to align with global markets.