How is Corporate Tax calculated for a company with a June year end?

Article 57 – Tax Period 1. A Taxable Person’s Tax Period is the Financial Year or part thereof for which a Tax Return is required to be filed. 2. For the purposes of this Decree-Law, the Financial Year of a Taxable Person shall be the Gregorian calendar year, or the (12) twelve-month period for which the Taxable Person prepares financial statements.

Article 48 – Corporate Tax Payment A Taxable Person must settle the Corporate Tax Payable under this Decree-Law within (9) nine months from the end of the relevant Tax Period, or by such other date as determined by the Authority.

4. What is Corporate Tax? Chapter summary This chapter sets out a brief overview of the core principles of Corporate Tax and how the Corporate Tax system functions as a whole. This provides a foundation for the information given in the following chapters. What is Corporate Tax? Corporate Tax is a form of direct tax levied on the Taxable Income of corporations and other Businesses. Corporate Tax is sometimes also referred to as ‘Corporate Income Tax’ or ‘Business Profits Tax’ in other jurisdictions. Corporate Tax is charged on a wide range of Business profits, and those subject to Corporate Tax in the UAE include not only companies but also certain partnerships, unincorporated entities and natural persons conducting a Business or Business Activities. Corporate Tax is paid on an annual basis with reference to the Tax Period of a Taxable Person. A Tax Period is the Financial Year or part thereof for which a Tax Return needs to be filed. The Financial Year is the period of 12 months for which Financial Statements are prepared.1 Payment of Corporate Tax is due within nine months from the end of the applicable Tax Period.2 The UAE Corporate Tax regime applies to Tax Periods commencing on or after 1 June 2023.3 How does Corporate Tax work? Taxable Persons are subject to Corporate Tax on their Taxable Income - this is their Accounting Income with certain adjustments made for Corporate Tax purposes. Generally, Corporate Tax is imposed on Taxable Income at the following rates: • 0% (zero percent) on the portion of the Taxable Income not exceeding AED 375,000. 1 Article 57 of the Corporate Tax Law. 2 Article 48 of the Corporate Tax Law. 3 Article 69 of the Corporate Tax Law. General Corporate Tax Guide | Corporate Tax | CTGGCT1 19

Article 69 – Application of this Decree-Law to Tax Periods This Decree-Law shall apply to Tax Periods commencing on or after 1 June 2023.