Home GCC Tax rules clarified for UAE entrepreneurs earning over Dhs1 million Any individuals earning over Dhs1 million per year through their business activities will need to register for corporate tax and appropriately declare their income by Gareth van Zyl December 26, 2023 Entrepreneurs earning over Dhs1 million per year through their individual business activities will need to register for corporate tax and appropriately declare their income, according to a new clarification published by the UAE’s Federal Tax Authority (FTA) this week. The new guide clarifies that a natural person must register for corporate tax purposes and obtain a tax registration number if his or her total turnover exceeds Dhs 1 million within a Gregorian calendar year, as from the calendar year of 2024. According to the guide, non-residents are also subject to corporate tax in cases where they have a permanent establishment in the UAE and their annual turnover also equals or exceeds this figure. The UAE’s corporate tax law came into effect on June 1, 2023. “The FTA urged all concerned individuals earning income or conducting business – wholly or partly – in the UAE to familiarise themselves with the corporate tax law guide, implementing decisions, and other relevant materials available on the FTA’s website,” said the tax authority in a statement. You can read the full FTA guide below: Unable to display PDF file. Download instead.