Corporate Tax Service
We aid UAE individuals and businesses with expert corporate tax advice to comply with tax regulations.
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Taxable income up to AED 375,000 |
0% |
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Taxable income above AED 375,000 |
9% |
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Large multinationals that meet specific criteria of the OECD BEPS. |
A different tax rate |
Our team of qualified Chartered Accountants is fully equipped with all the knowledge and expertise to help your business grow by simplifying all your Accounting, Audit, Tax, and Statutory Compliance requirements. Moreover, providing financial information to our clients in a timely and accurate manner is a commitment that we feel cannot be compromised. Meaningful, well-organized financial records ensure that your business operations will run more efficiently daily.
Being a business owner or a manager for your company can sometimes mean you are the one keeping an eye on everything. Being responsible for your company’s success and making sure everything happens as you have envisioned, is a tough job that you do well. But there is one specific area that should be the same for all companies, something that is only correct without any creative input which is accounting. The Top of five benefits of outsourcing Accounting & Bookkeeping Services are:
- Better banking facilities: Reduction in Business Costs
By outsourcing accounting and bookkeeping, business can reduce their operation cost and avoid the costs of hiring full time accountant. At the same time business can gain access to external expertise of qualified professionals that the business could not manage to pay for otherwise.
- Productivity: Increase in Productivity
By outsourcing accounting and bookkeeping, business owners/management can focus more on core income generating activities and can rest assured that the accounting responsibilities will be completed on time by the accounting experts.
- Compliance: Timely Compliances and Avoidance of Associated Penalties
Meeting all mandatory compliance requirements and avoiding associated penalties is another benefit of outsourcing accounting and bookkeeping. Businesses can gain peace of mind as qualified experts in the field of accounting will take care all of their statutory compliance requirements, such as filing of taxes and other statutory compliance requirements on timely basis
- Expert Advice: Access to Expert Advice
While hiring a full-time accountant will be costly and scope of work of an accountant will be limited to accounting function. By teaming up with accounting firm, businesses can feel confident that only the most qualified experts are handling their finances in an unbiased and objective manner. Services are often tailored and scalable to bring you the right expertise at the right time for greater flexibility across the board.
- Timing is everything: Access To Right Information At Right Time
By outsourcing accounting function not only businesses can get their complete books of accounts but at same time businesses can gain access to right information at the right time to take bold business decisions. Like cash flow position of the company, financial ratios, top expenses of the company, expected payments from the customers, tax payments and many more.
When are corporate tax returns due in the UAE?
The tax return filing deadlines in the UAE can vary depending on the emirate and the tax authority’s regulations. It is crucial to consult with the specific tax authority or a tax professional to determine the exact deadlines applicable to your business. In general, tax returns are due within a specific period after the end of the financial year.
How do I register my company for corporate tax in the UAE?
To register for corporate tax, you need to submit the necessary documents to the Federal Tax Authority (FTA) in the UAE. These documents typically include your company’s trade license, memorandum of association, and other relevant financial information.
What is the rate of corporate tax?
Profits will be taxed at 9%, the standard statutory rate. However, the tax rate on taxable profits up to AED 375,000 will be 0%. This action is intended to encourage local small businesses and start-ups. The slab rates have not yet been determined. This is subject to change in the future. Having said that, the UAE corporate tax rate will begin as one of the world’s most competitive.
Are there any penalties for late or incorrect tax return filings?
Yes, there may be penalties for late or incorrect tax return filings in the UAE. These penalties can vary depending on the specific circumstances, such as the delay period or the severity of the error. It’s crucial to comply with the tax regulations and file accurate returns on time.
Can I outsource the preparation and filing of my company's tax returns?
Yes, you can choose to hire tax professionals or firms to handle the preparation and filing of your company’s tax returns in the UAE. It’s advisable to work with experienced professionals who have knowledge of UAE tax laws and regulations
How can I stay updated with the latest tax regulations and changes in the UAE?
To stay updated with the latest tax regulations in the UAE, you can regularly visit the official website of the Federal Tax Authority (FTA) or seek guidance from professional tax advisors who are knowledgeable about UAE tax laws
Will there be any exception?
Companies involved in the extraction of natural resources may be able to avoid paying the tax. These businesses will continue to be taxed at the Emirate level. Furthermore, UAE residents will no longer be required to pay taxes on dividends and capital gains generated by eligible shareholdings. If a corporation generates profits outside the UAE and pays taxes on those profits in that country, the company will not be required to pay corporate tax on those profits in the UAE because the foreign taxes will be credited against the UAE corporate tax payable.
Under certain conditions, will it be possible for multiple corporations to file as a single tax entity?
The UAE’s corporation tax code will have very permissive loss utilisation regulations. This paves the way for UAE-based companies to file their taxes as a single entity. In the event of a loss and/or an intragroup transaction, they can file a relief claim on their own behalf as a group (units).