UAE Tax Relief Plan Will Help Self-Employed Expats To Claim Cash

Are you a self-employed expat in the UAE? You need to check this article.

A new tax relief plan has been announced, meaning that you can claim relief from the government to help your finances tick over.

It’s all part of a corporate tax plan put together by the UAE’s Ministry of Finance, designed to help businesses, startups and individuals – provided that you’re a UAE resident.

Ministerial Decision No.73 of 2023 on Small Business Relief specifies that if you are a business, startup or self-employed with revenues of Dhs3million or less, you can benefit from the plan.

A statement reads: “Taxable persons that are residents can claim small business relief where their revenue in the relevant tax period and previous tax periods is below Dhs3million for each tax period.

“This means that once a taxable person exceeds the Dhs3million revenue threshold in any tax period, then the small business relief will no longer be available.”

This revenue threshold will apply to tax periods starting on or after June 1, 2023. It will then continue to apply to subsequent tax periods that end before or on December 31, 2026. Revenue can be determined based on the applicable accounting standards accepted in the UAE.

This will not be available to qualifying free zone persons or members of multinational enterprise groups – i.e. companies with operations in more than one country that have consolidated group revenues of more than Dhs3.15billion.