Page 6 - ICAI UAE TAX UPDATE_JULY 2024

The following table summarizes the illustrations on the first tax periods mentioned in the public clarification with
respect to resident juridical persons:

Status Scenario Incorporation Company's First Tax period Subsequent Tax
Date
period
(DD/MM/YY)
Company's
Status Scenario Incorporation Financial Period as First Tax period Subsequent Tax
per Commercial
period
Date Financial Period as (DD/MM/YY) (DD/MM/YY)
Law/ MOA
per Commercial (DD/MM/YY)
Jan to Dec
Resident 1 01 Feb 2023 Law/ MOA 1/1/24 to 31/12/24 1/1/25 to 31/12/25
Company 2 1 01 Feb 2023 Apr to Mar 1/1/24 to 31/12/24 1/1/25 to 31/12/25
01 Feb 2023
Jan to Dec
1/4/24 to 31/3/25
Resident
1/4/25 to 31/3/26
Company 3 2 01 Feb 2023 Apr to Mar 1/4/24 to 31/3/25 1/4/25 to 31/3/26
1/9/23 to 31/8/24
1/9/24 to 31/8/25
Sep to Aug
01 Feb 2023
Jan to Dec
4 3 01 Feb 2023 Sep to Aug 5/6/23 to 31/12/23 1/1/24 to 31/12/24
1/9/23 to 31/8/24
1/9/24 to 31/8/25
05 Jun 2023
5/6/23 to 31/12/23
05 Jun 2023
1/1/25 to 31/12/25
Jan to Dec
5 4 16 Aug 2023 Jan to Dec 16/8/23 to 31/12/24 1/1/24 to 31/12/24
11/6/23 to 31/3/24
11 Jun 2023
1/4/24 to 31/3/25
6 5 16 Aug 2023 Apr to Mar 16/8/23 to 31/12/24 1/1/25 to 31/12/25
Jan to Dec
7 6 11 Jun 2023 Apr to Mar 11/6/23 to 31/3/24 1/4/24 to 31/3/25
Apr to Mar
1/4/25 to 31/3/26
2/1/24 to 31/3/25
02 Jan 2024
8 7 02 Jan 2024 Apr to Mar 2/1/24 to 31/3/25 1/4/25 to 31/3/26
6/7/23 to 31/8/24
Sep to Aug
06 Jul 2023
1/9/24 to 31/8/25
20 Dec 2023
1/9/24 to 31/8/25
Sep to Aug
9 8 06 Jul 2023 Sep to Aug 20/12/23 to 31/8/24 1/9/24 to 31/8/25
6/7/23 to 31/8/24
1/1/24 to 31/12/24
20 Dec 2023
1/9/24 to 31/8/25
Jan to Dec
Foreign 1 9 Before 1st June Sep to Aug 20/12/23 to 31/8/24 1/1/25 to 31/12/25
Company 1 Before 1st June Jan to Dec 1/1/24 to 31/12/24 1/1/25 to 31/12/25
2023 (CT
Foreign
considered as Introduction date)
2023 (CT
Company
UAE Resident 2 Introduction date) Sep to Aug 1/9/23 to 31/8/24 1/9/24 to 31/8/25
considered as
01 Sep 2023
company when 2 01 Sep 2023 Sep to Aug 1/9/23 to 31/8/24 1/9/24 to 31/8/25
UAE Resident
they are
company when
effectively
they are
managed and
effectively
controlled in the
managed and
UAE
controlled in the
UAE

The following table summarizes the illustrations on the first tax periods mentioned in the public clarification with
respect to non-resident persons:
Status Scenario Non- Resident Foreign PE is First Tax period Subsequent Tax
(DD/MM/YY)
period
Company's
Foreign
PE is
Status Scenario Non- Resident Company's effective First Tax period Subsequent Tax
from
Operations in Financial Period effective (DD/MM/YY) (DD/MM/YY)
Company's
Company's
period
UAE start Date Financial Period from (DD/MM/YY)
as per its MOA
Operations in
Non- 1 UAE start Date as per its MOA 01 Dec 2023 1/2/24 to 31/1/25 1/2/25 to 31/1/26
Feb to Jan
01 Feb 2022
Resident 2 1 01 Feb 2022 Sep to Aug 01 Dec 2023 1/2/24 to 31/1/25 1/2/25 to 31/1/26
01 Dec 2023
Non-
01 Feb 2022
1/9/24 to 31/8/25
1/9/23 to 31/8/24
Feb to Jan
having
Resident 3 2 01 Feb 2022 Sep to Aug 01 Dec 2023 1/9/23 to 31/8/24 1/9/24 to 31/8/25
Jan to Dec
01 Feb 2025 1/8/24 to 31/12/25 1/1/26 to 31/12/26
01 Aug 2024
Fixed
having 4 3 01 Aug 2024 May to April 05 Nov 2024 1/8/24 to 31/12/25 1/1/26 to 31/12/26
5/5/24 to 30/4/25
01 Feb 2025
05 May 2024
Jan to Dec
1/5/25 to 30/4/26
Place PE 4 05 May 2024 May to April 05 Nov 2024 5/5/24 to 30/4/25 1/5/25 to 30/4/26
Fixed
Non-
Place PE 1 01 Mar 2021 Mar to Feb 01 Jun 2023 1/3/24 to 28/2/25 1/3/25 to 28/2/26
Resident 2 1 01 Mar 2021 Mar to Feb 01 Jun 2023 1/3/24 to 28/2/25 1/3/25 to 28/2/26
Non-
1/9/24 to 31/8/25
01 Feb 2022
Sep to Aug
01 Jun 2023
1/9/23 to 31/8/24
having
Resident 3 2 01 Feb 2022 Sep to Aug 01 Jun 2023 1/9/23 to 31/8/24 1/9/24 to 31/8/25
01 Aug 2024
Jan to Dec
01 Aug 2024 1/8/24 to 31/12/25 1/1/26 to 31/12/26
Dependent 3 01 Aug 2024 May to April 01 Aug 2024 5/5/24 to 30/4/25 1/5/25 to 30/4/26
having
05 May 2024 1/8/24 to 31/12/25 1/1/26 to 31/12/26
05 May 2024
Jan to Dec
Agent PE
Dependent 05 May 2024 May to April 05 May 2024 5/5/24 to 30/4/25 1/5/25 to 30/4/26
Agent PE

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UA E TAX UPD ATE NEWSLET TER ISSUE 04 - July 2024