15% Minimum Corporate Tax on Multinationals: UAE’s New Move Starting January

15% Minimum Corporate Tax on Multinationals: UAE’s New Move: The UAE is set to implement a minimum corporate tax rate of 15% on multinational companies starting from January 2024. This move is in line with global tax reforms aimed at curbing tax avoidance by large corporations. The tax will be applied to firms with a global revenue of over €750 million, ensuring that they pay a minimum level of tax in the UAE. This new measure is expected to attract more foreign investment into the UAE while ensuring fairer tax competition across global markets. The initiative aligns with the Organisation for Economic Co-operation and Development’s (OECD) global tax framework.