Small Business Relief extended to 2029 under Ministerial Decision 131

The Ministry of Finance has issued Ministerial Decision No. (131) amending the provisions on the Taxation of Corporations and Businesses. The amendment extends the period for claiming Small Business Relief to tax periods ending on or before 31st December 2029. The decision supports small businesses and start-ups, strengthens the business environment, and reinforces the UAE's competitive tax system. Under the decision, the threshold prescribed under Ministerial Decision No. (73) of 2023 will continue to apply to tax periods commencing on or after 1st June 2023, and shall apply to subsequent tax periods ending on or before 31st December 2029. Small Business Relief enables Taxable Persons with annual revenue not exceeding AED 3 million to benefit from simplified corporate tax compliance requirements, subject to conditions set out in the legislation.