01
Feb
12:11
Prospective UAE corporate tax seen squeezing steel margins
United Arab Emirates’ Ministry of Finance has announced a federal corporate tax will be applied on business profits, effective for financial years starting on or after 1 June 2023, Kallanish notes. This is likely to squeeze local steel firms’ margins further.
Businesses will become subject to a UAE corporate tax rate of 9%, when taxable profits go above a threshold of AED 375,000 ($102,110). Companies earning below this amount will not be charged …
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Anonymous
Very good overview of the weekly steel market.
Anonymous