Executive summaryOn 31 January 2022, the Ministry of Finance (MOF) of the United Arab Emirates (UAE) confirmed that the UAE will introduce federal corporate tax (CT) for financial years starting on or after 1 June 2023. This announcement follows confirmation by the MOF in July 2021 that the UAE would support the global minimum effective tax rate under the Organisation for Economic Co-operation and Development (OECD)/G20 Base Erosion and Profit Shifting (BEPS) 2.0 project.The MOF’s press release states: “Given the position of the UAE as a global financial centre and an international business hub, the UAE Corporate Tax regime will...