UAE corporate tax reprieve gives 'breathing space' to small businesses

The United Arab Emirates has extended corporate tax relief for small businesses until 2029, providing entrepreneurs a breathing space to navigate regional and global challenges. Small businesses with annual revenue up to Dh3 million ($816,880) can continue claiming relief until December 31, 2029. Marie-Claire Accordino, a small business owner and advisor, welcomed the Ministry of Finance's decision, stating that it lowers tax-compliance costs and provides extra liquidity to focus on business growth.

Dr Daamini Shrivastav, a sports rehabilitation specialist, expressed relief over the extension, saying it provides a "breathing space" and allows for better financial planning. The extension will save her an estimated Dh25,000 per year. Sheetal Soni, a founding partner of MICS financial advisory firm, praised the government's proactive approach, highlighting how it helps build and rebuild confidence in UAE policies, attracting global capital and fostering an environment conducive to start-up ventures.