Corporate Income Tax UAE Professional Tax Advisory Services
The new concept of corporate income tax in the UAE has changed the manner in which companies undertake their financial planning and obligations. Now that there is a new law it is most important that companies working in the region take the necessary steps to understand the regulations, obligations, and possibilities that this change brings. Our expertise is to provide corporate tax advisory services to your company to enable it to negotiate within the new framework with confidence and work to full compliance and at the same time maximize its financial performance.
Extensive Knowledge of the Corporate Income Tax
UAE corporate income tax is levied on businesses that operate in different industries. The current regime places parameters of:
- 0% taxable income entries at AED 375,000
- 9% tax rate on the entry of high-income level
This is an additional responsibility for many businesses, particularly small and medium enterprises, to ensure that they tightly control their accounting books and financial reporting and compliance provisions.
Our professionals can explain how the system works properly and give personalized advice to make sure that every customer comprehends what his/her liability under the law is. We help provide tax planning strategies that are not limited to fulfilling any covenants enforced by the authorities, but also reducing risk exposure, as well as maximising profits.
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Who is Required to be Registered?
The corporate income tax in the UAE is imposed on:
- Locally incorporated companies (including the associated offshore company)
- Foreign firms with a permanent establishment in the UAE
- Some individuals are involved in commercial activities that exceed a fixed level of turnover
Corporate tax does not apply to certain categories, such as:
- Government bodies
- Natural resource enterprises
- Qualifying funds
Through our service, business can easily know whether they should register and pay the corporate tax. Those who are not certain whether they are eligible take us through the entire assessment process, and this removes the uncertainty and allows them to make proactive decisions.
Special Benefits and Free Zone Businesses
Most businesses have established their operations in the free zones of UAE in order to enjoy the benefits accorded to it like tax holiday, complete ownership rights, and ability to repatriate profit.
Free zone companies can under the corporate tax law still enjoy 0% tax rate on qualifying income, but only if they adhere to substance and compliance requirements.
We serve the free zone businesses by supporting all the appropriate requirements to observe their privilege tax provision. The assistance offered by our team will help companies have proper record-keeping, transfer pricing compliance and preparation of their financial statements having ensured that they remain open to the benefits of the free zone framework.
End-to-End Registration and Filing Support
Corporate tax in UAE does not exempt any businesses or international companies in the country to be registered at the Federal Tax Authority. Companies are required to pay taxes and the tax payment is expected within nine months after the end of the financial year of the companies once it is registered. The failure to comply may attract fines and undesired legal issues.
We offer:
- Help in the registering of corporate taxes
- Planning and filing of annual tax returns
- Constant compliance monitoring to avert errors
- Tax audit and FTA communications advisory
Businesses can leave it to our team to manage, and concentrate on their operations at the same time maintaining complete adherence to the UAE tax law.
Multinational Enterprise Planning
Emerging regulations are being implemented that conform to international taxation standards as far as multinational corporations are concerned. There is the likelihood of minimum tax requirement to be imposed on larger groups hence, further obligations of compliance.
We offer top-tier advice to work on such changes to multinational clients to identify the way they can easily adapt to a changing regulatory framework.
The Reasons to Select Incredible Tax Services
Income tax on corporations in UAE is recent and most companies are yet to adapt to the demands. The presence of a knowledgeable partner will help in relieving the firm of a heavy load of management, proper reporting, and less financial risk.
We do not simply provide solutions that support compliance with the letter of the law; we help our clients develop systematic approaches to ensuring that businesses can continue to operate profitably, within the limits of the law.
Whether it be filing a registration and tax returns to providing strategic advice to complex corporate structures, we provide full services that are specific to both the industry and the clients financial position. Turning to professional help, companies not only avoid the risk of non-compliance but also get the experience of working out the tax-efficient organization of its business.
