Taxing Times: Assets and Liabilities of the United Arab Emirates’ Corporate Tax Reform for the Financial Sector

The introduction of corporate taxation in 2022 and accompanying reforms are changing the paradigm of doing business in the United Arab Emirates and its free zones. The players in the UAE financial sector – foreign banks and their branches, investment funds and managers, fintech startups and others – are faced with increased compliance and other costs, but there are also many opportunities to seize for those in the know. This article provides an overview of UAE corporate tax reform with the financial sector perspective in focus and ends with key takeaways and steps to take to stay on top of them.