Our experts will advise you on all corporate tax considerations which might impact your business. This will include what tax exemptions could be available to your business and how to benefit from these.
Our team will assist in registering your business for corporate tax with the FTA and manage the deadlines for all of your corporate tax obligations.
Our team will assess your corporate tax position, ensure the best tax outcome for your business, and file all necessary submissions with the FTA throughout the year.
In a landscape where meeting compliance deadlines is paramount, our experts ensure that you stay ahead of the curve, mitigating the risk of penalties. Trust us to be your partners in this venture, offering the expertise and support needed to not only navigate the complexities of the UAE’s corporate tax law but also to transform this challenge into an opportunity for financial growth and success.
The initial step on this compliance journey is the registration for corporate tax, a mandatory requirement for all businesses operating in the UAE. Our team is poised to guide you through the registration process, ensuring a seamless transition as you embrace this new fiscal landscape.
The general rule is that every company in the UAE will be subject to corporate tax, including free zone companies. There are a few, very specific exemptions which are outlined further below.
All of these business entities operating within the UAE are subjected to the new tax regime from June 1, 2023, and onwards. The tax calculation of the period of businesses will differ based on how they report their financial year, as follows:
Apart from a few specific exceptions, all commercial activities that take place within the UAE will have to register and file the corporate tax.
The allure of the United Arab Emirates (UAE) as a prime destination for entrepreneurs and investors spans the globe, with many considering it among the most lucrative places to establish a new business..
Embarking on the landscape of the UAE’s new corporate tax law can be a daunting journey for many companies. Navigating through unfamiliar laws and intricate processes requires expertise and precision. That’s where our team of seasoned tax experts steps in, offering invaluable assistance to decode the intricacies of corporate tax regulations.
We understand the importance of optimizing your business’s financial landscape. Our experts are dedicated to helping you comprehend how corporate tax uniquely applies to your enterprise, ensuring that you not only grasp the essentials but also seize opportunities for tax exemptions and reliefs that can significantly impact your bottom line.
One of the critical aspects of this process is ensuring compliance with the ever-evolving accounting standards. Our team is well-versed in these standards and is prepared to guide you through the entire journey. From registering your business for corporate tax to meticulously filing your submissions, we are committed to making the entire process seamless, efficient, and, above all, cost-effective for your organization.
Maintain Accounting Records up to the Required Reporting Standard (e.g., IFRS):
A key pillar of adherence to the corporate tax scheme involves meticulous record-keeping in alignment with the stipulated reporting standards, such as IFRS. Our experts specialize in ensuring that your accounting records meet and exceed the required standards, enabling your business to navigate the complexities of corporate tax with confidence.
File a Corporate Tax Submission with the Federal Tax Authority:
The culmination of your compliance journey involves the submission of your corporate tax documentation to the Federal Tax Authority. Our team is ready to assist you in preparing and filing these submissions, ensuring accuracy, timeliness, and adherence to regulatory requirements.
While not every business is obligated to pay corporate tax, the significance of these compliance steps cannot be overstated. Registering, maintaining accurate accounting records, and filing submissions are imperative for every business, serving as the gateway to assess eligibility for potential tax exemptions. Trust our expertise to guide you through these crucial steps, turning compliance into an opportunity to explore potential exemptions and navigate the evolving corporate tax landscape in the UAE.
A non-resident will be recognized as having a PE in the UAE if they have a fixed place of business here.
Any legal entity or individual based in the UAE who has annual revenues below the threshold and who satisfies any further requirements may apply for a small business exemption.
The following rates for UAE CT will apply to entities based in a free zone that align with the requirements.
> Qualifying Income – 0%.
> 9% of Taxable Income that does not fall within the criteria of Qualifying Income
The corporate tax in the UAE varies in accordance with the certain amount of incomes of the businesses or corporations operating in each Emirates.
> 9% for Above AED 375,000 taxable income
> 0% for Up to AED 375,000 taxable income
Yes. A free zone will be required to register and file a corporate tax return in the UAE.
The businesses or companies will have to file for a CT return only once per financial period.
Businesses or companies will be subject to penalties in case of non-compliance under the CT in UAE.
Get in touch with us today to assist in helping you pave the way for your new business journey.