+971 54 204 0822
info@taxadepts.com
+971 54 204 0822
Linkedin Facebook Instagram Youtube
+971 54 204 0822
Book Your Appointment

Corporate Tax in UAE

The Corporate Tax is a direct tax applied on the net income or profit of corporations and businesses.

The Corporate Tax is a direct tax applied on the net income or profit of corporations and businesses.

The UAE Ministry of Finance announced the establishment of a federal corporate tax effective for fiscal years starting off on or after 1 June 2023 on 31 January 2022.
In general, these taxes are estimated based on the accounting net profit/income of a corporation after adjusting for specific items as prescribed by UAE Corporate Tax decree law.

What is Corporate Tax?

In the extremely complex fields of Corporate Tax reporting, tax authority compliance, and tax planning, in-house tax departments frequently face the problem of adapting to ever-changing regulations. Our seasoned professionals with industry and Corporate Tax expertise can enhance your organization’s professionals to enable a smooth transition to the newly implemented Corporate Tax in the UAE.
Both our clients and our peers respect our experience, efficiency, attention to detail, and exceptional service.
Whether your organization is a start-up or a large, well-established enterprise, our team of professionals will utilize their years of tax knowledge and resources to assist you identifying risk areas and provide solutions to manage financial risk and tax compliance exposures.

Rates of Corporate Income Tax in the UAE

According to the UAE Ministry of Finance, the following are the Corporate Income Tax rates:
0% CIT for income up to AED 375,000 that are taxable.
9% CIT on income above AED 375,000.
Large corporations that meet the specific conditions connected to Pillar Two of the OECD Base Erosion & Profit-Sharing Project will be subject to a different tax rate.

Why Do You Need Corporate Tax Experts?

Tax Experts are required for businesses because tax laws and regulations can be complex and ever-changing, making it challenging for businesses to comply with the law. Tax consultants have the expertise and experience to navigate the tax laws and regulations and help businesses minimize their tax liability through effective tax planning and strategy.
Tax advisors can also assist with tax compliance and preparation, and handle tax disputes and audits. Additionally, tax advisors can provide valuable insights and advice on tax-saving opportunities, such as tax incentives and deductions. In short, tax advisors help businesses save time, money, and ensure compliance with tax laws.

Corporate Tax Service

Our Corporate Tax team aids businesses in achieving tax compliance obligations by providing various services, such as:
  • Corporate tax assessment
  • Corporate tax Implementation
  • General Compliance Service
  • Corporate Tax Registration
  • Calculation of taxes payable
  • Preparation of Corporate Tax returns and other tax reporting documents.
  • Review of the tax return prepared by the organization.
  • Assistance with correspondence with the tax authorities if the authorities have raised questions.
  • Coordinating with authorities to resolve potential tax disputes

Four-step Action Plan for UAE Corporate Tax Services

Impact Evaluation
  • Conduct an initial evaluation of the anticipated impact of the outline of the UAE Corporate Tax Law on existing operations.
  • Conduct a system analysis to identify data gaps necessary for compliance with UAE Corporate Tax.
Comprehensive Analysis
  • Identify significant impact areas resulting from the implementation of Corporate Tax.
  • Determine ambiguous positions and critical decision points
  • Determine reorganization and optimization.
  • Possibilities for your legal framework or business operations to reduce administrative complications.
  • Perform a gap analysis to determine what system modifications are necessary to meet financial information and compliance needs.
Implementation
  • Modify legal contracts and other agreements.
  • Analyze revenue and operations, and adopt transfer pricing policies and documentation as necessary.
  • Make modifications to the legal structure.
  • Revise SOPs in light of the corporation tax laws and regulations.
  • Change business application software.
  • Assessment for Corporate Tax Group Registration and Exemption.
  • Obtain clarifications and tax judgments in advance.
  • Perform a transfer pricing risk and opportunity analysis to determine the necessary improvements to the transfer pricing policy.
Post-Implementation
  • Tax registrations for corporations
  • Apply for tax exemptions and tax groups
  • Submit CT returns.
  • Prepare transfer pricing documentation.
  • Tax processing.

Testimony

“I was very pleased with the professional Corporate Tax services that I received from ADEPTS team. They were extremely helpful in helping me understand and fulfill my tax obligations as a business owner. They provided me with a comprehensive range of services, from general compliance to corporate tax registration and calculating taxes payable. Furthermore, they were more than willing to answer any questions that I had about the process.”

.

frequently asked questions

UAE Corporate Tax will be effective for all UAE firms and commercial operations, with the exception of natural resource extraction, which is subject to corporate taxation at the Emirate level.
If a person engages in a trade or activity in the UAE on a continuous or recurring basis, they will be subject to UAE tax. Therefore, while a person's pay or other employment benefits do not fall under the purview of Corporate Tax, an individual with a commercial license to conduct business in the UAE will be subject to UAE Corporate Tax.
Free zone firms will be subject to UAE Corporate Tax; hence, all compliance requirements outlined in the Regulations must be met. However the new regulations will continue to honor the tax incentives currently granted to free zone enterprises that meet all legal requirements and do not conduct business with the UAE mainland.
Far far away, behind the word mountains, far from the countries Vokalia and Consonantia, there live the blind texts. Separated they live in Bookmarksgrove right at the coast

Why Choose ADEPTS

Our highly trained tax professionals are always available for your support in the following:
Corporate Tax Implementation
In the increasingly complicated area of Corporate Tax reporting, compliance, and tax planning, we provide expert advice and guidance to businesses and organizations on how best to meet their obligations to the relevant tax authorities.
Corporate Tax Training
At ADEPTS, we provide comprehensive corporate tax regulation training services. Our knowledgeable and experienced staff are adept at helping organizations understand the complexities of the corporate tax law and fulfill their compliance obligations. With a wealth of expertise in all areas of taxation, we are able to furnish our clients with extensive resources tailored to their unique needs.
Corporate Tax Compliance
We specialize in providing dynamic economic development consulting services to businesses in the UAE. Our team of experts is highly knowledgeable about the changes and developments in the UAE corporate tax system and maintains a keen awareness of global trends. We help our clients to stay current with these developments and apply them to their business operations.

Join Our Newsletter

Get exclusive insights and expert advice on financial management. Subscribe to our newsletter now!
Welcome to Adepts Chartered Accountants a leading professional Audit firm, practicing in Audit and Assurance, Taxation and Advisory services with a cumulative experience of 15 years. Adepts has grown by exceeding clients’ expectations in the provision of professional services.
Linkedin Facebook-f Instagram Youtube

Quick Menu

About Us
Blog
Contact us
Free Consultation
Privacy Policy

Services

ICV Certification
Tax Agency
Feasibility Studies
Financial Reporting
Excise Tax Audit

Contact

  • Abu Dhabi Office
    Office No. 503, New EMI Tower, Airport Road Abu Dhabi United Arab Emirates
  • Dubai Office
    Office No. 201, Blue Bay Tower,Business Bay Dubai, United Arab Emirates
  • info@taxadepts.com
  • +971 2 546 5849
© 2023 Adepts. Powered by Adepts Holding Limited.