The UAE is preparing for a major milestone in its financial landscape as businesses get ready to submit their first corporate tax returns by September 30, 2025. This historic step marks the country’s transition from a largely tax-free environment to a tax-compliant hub aligned with global standards, ushering in a new era of transparency, governance, and accountability for companies of all sizes.
The UAE has lowered the minimum age to start a business from 21 to 18 years, opening new doors for young entrepreneurs. Under the updated Commercial Transactions Law, individuals as young as 18 can now legally establish, own, and manage companies, while those aged 15 to 18 can participate in trade with approvals.
Read MoreThe Federal Tax Authority (FTA) has reminded UAE businesses that corporate tax compliance is not optional, failure to maintain proper records/file returns on time could result in steep penalties. From keeping 7 years’ worth of financial documents to meeting strict filing deadlines, companies are now under increasing pressure to stay fully compliant as UAE strengthens its corporate tax framework.
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