When will the corporate tax be effective and what is the tax period?

The UAE corporate tax will be effective from the 1st of June, 2023.

If businesses have their financial year between 1st July 2023 and 30th June 2024, the corporate tax will be effective from 1st July 2023.

However, for businesses that have their financial year between 1st January 2023 and 31st December 2023 the financial year will be effective from 1st January 2024.

If businesses do not follow a different period of 12 months, then the tax period would be as per the Gregorian calendar year.