UAE to Impose Domestic Minimum Top-Up Tax Starting Jan. 1, 2025

The UAE Ministry of Finance will introduce a domestic minimum top-up tax for financial years starting on or after Jan. 1, 2025.

• Says the move is intended to comply with the Organisation for Economic Co-operation and Development’s Two-Pillar Solution
• The Pillar Two rules require large multinational enterprises to pay a minimum effective tax rate of 15% on profits in every country where they operate
• DMTT will apply to multinational enterprises operating in the UAE with consolidated global revenues of €750m ($794m) or more in at least two out of the four financial years immediately preceding the financial year in which ...