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The intention of corporate tax relief is to create a favorable environment for businesses to thrive, thereby contributing to overall economic prosperity. The reliefs are as under:
Businesses earning Annual Revenue not exceeding AED 3 million will not be required to pay Corporate Tax. But they still must register for Corporate Tax & file the return.
Individuals whose total revenue from the business activities during the year is up to AED 1 million need not register for Corporate Tax & be complaint.
Taxpayers with Multiple Group Entities have the option to elect and form tax groups for the purposes of Corporate Tax subject to certain conditions. It will result in reduced compliance and costs due to one registration and one return from the whole group.