The UAE's new 9 per cent federal corporate income tax comes into effect on 1 June for company financial years starting on or after that date, and its finance ministry has now published a detailed explanatory guide to all articles of the law. It notes that companies, despite being separate legal persons, will be treated as the natural person or persons owning them. This means, for tax purposes, the owners retain unlimited liability for the business' debts and other obligations. It also acknowledges that taxpayers are permitted to optimise their tax position in a manner consistent with the law.
News Source：【Afridi & Angell 2023/05】