The ministry says its decision is aimed at strengthening the business environment in the UAE. AFPShow caption: The ministry says its decision is aimed at strengthening the…Finance Ministry move allows businesses earning up to Dh3m to retain simplified tax compliance
The UAE has extended its small business corporate tax relief programme until December 31, 2029, to support start-ups and entrepreneurs.
Businesses with annual revenue of up to Dh3 million ($816,880) remain eligible for simplified corporate tax compliance requirements under the extension.
SMEs account for more than 94 per cent of the UAE's businesses and contribute over 60 per cent to the country's non-oil GDP.
The extension "reaffirms the UAE's commitment to developing a competitive tax system that supports sustainable economic development", the Ministry of Finance said.
