Compliance with the law is a responsibility

As the UAE ushers in a new era of fiscal accountability through the implementation of its new corporate tax law, one principle must be clearly understood by all: compliance with the law is not a choice - it is a responsibility.

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While the UAE's 9 per cent corporate tax rate remains globally competitive, the focus now shifts to how well businesses understand, interpret, and implement the law in good faith. Unfortunately, there remains significant misunderstanding in the market, particularly around concepts such as Qualifying Free Zone Persons (QFZP) and holding companies.