Corporate Tax Consultants In Dubai, UAE
On 9th December 2022, the UAE created the Federal Decree-Law No. 47 of 2022 which brings in a Corporate Tax (CT) regime to take effect on business profits from 1st June 2023. The change is an important step in the country’s tax system and brings it in line with worldwide tax rules. We help businesses at Albab Accounting and Tax Consultancy FZE-LLC comply with the new UAE Corporate Tax Law through our expert corporate tax consultancy.
What is the law on corporate taxes in the UAE?
The rules for corporate tax in the UAE and around the world are detailed and always being updated. Businesses must:
- Make sure you meet all tax deadlines.
- Take advantage of savings offered by taxes.
- Don’t accrue any fines due to not conforming to laws.
- Plan taxes in a way that supports the main goals you have for your business.
- All the corporate tax guidance you could need
From 1st June 2023, the Corporate Tax (CT) Law applies a tax on business profits within the UAE. The purpose of this regime was to create a useful, clear and stable tax framework for everyone, strengthening the UAE’s reputation as a leading center for business in the region.
Partnering with Albab Accounting and Tax Consultancy ensures you have the expertise needed to stay ahead of these challenges.
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All the corporate tax guidance you could need
From 1st June 2023, the Corporate Tax (CT) Law applies a tax on business profits within the UAE. The purpose of this regime was to create a useful, clear and stable tax framework for everyone, strengthening the UAE’s reputation as a leading center for business in the region.
The most important aspects of UAE Corporate Tax Law
Tax Rates
The rates in corporate tax in the UAE are organised to encourage business development and steady economic growth.
For businesses that earn less than AED 375,000, your tax will be 0%.
9% applied to income above AED 375,000.
There are also reduced rates available for businesses in Qualified Free Zones.
There is no tax due on Qualifying Income.
9%, applied to income that isn’t seen as Qualifying Income.
What is exempted under UAE Corporate Tax?
Certain entities and types of business actions are not subject to the VAT in the UAE. These Include :
- Government entities.
- Government-controlled entities.
- Oil and gas are considered extractive businesses.
- Natural resource companies that do not take more than they use.
- Can still qualify education, military, public safety or other charitable organizations.
- Creating fund criteria for investors.
- Pension or social security savings administered by the government.
- Any business organization registered in the UAE and fully owned by an exempt entity with approved conditions.
How Albab Accounting and Tax Consultancy FZE-LLC Can Help You Deal with UAE Corporate Tax
With this new tax law in place, Albab Accounting and Tax Consultancy FZE-LLC offers support for your organization to comply with Corporate Tax easily and accurately. We help your business fully comply with the UAE’s new corporate tax rules to prevent penalty fees and optimize your tax situation.
Our main services related to corporate taxes are:
- Your company will be registered for Corporate Tax and we keep you abreast of filing deadlines to make sure your taxes are handled on time. We handle all the paperwork and keep your business in good legal standing with the law.
- Using their expertise, our consultants determine your taxable income to make sure you pay nothing on your first AED 375,000 and only 9% on anything after. We take care of your tax filings accurately and on time, so you don’t face any difficulties with the UAE FTA.
- Proper tax strategies help improve your business’s financial success. We provide advice to help your business arrange its taxes according to the law under the new Corporate Tax regime.
- Tax Optimization for Free Zone Businesses: If you operate in UAE Free Zones, our experts guide you through the special tax breaks for your type of business which depend on how you are taxed elsewhere. We guide you through and assist you with the many challenges a Free Zone brings.
- We help businesses discern if they are eligible for any Corporate Tax exemptions based upon what they do or their ownership type. Our experts examine the way your business is structured so you can take advantage of any exemptions you qualify for.
Why Should You Trust Albab Accounting and Tax Consultancy FZE-LLC for Your Company’s Tax Management?
- Deep Knowledge: Thanks to our team’s expertise, your company will remain legally correct and structured in the best way possible under UAE’s tax laws.
- We devise corporate tax strategies for you that fit your business plan, to reduce your liabilities and still ensure all tax rules are met.
- Clear Advice: We aim to provide understandable and open advice to ease your understanding of all Corporate Tax matters in the UAE.
- We handle the whole process, from signing up for your business taxes to ongoing management of them.
Professional Help for UAE Corporate Tax Compliance:
- Introducing Corporate Tax is an important change for the UAE, but having the correct assistance allows your business to manage the changes well. Our main goal at Albab Accounting and Tax Consultancy FZE-LLC is to help businesses like yours get ready for the UAE Corporate Tax Law and stay fully compliant while making the best use of tax regulations.
- Book an appointment with us so our team can help you understand and follow the new Corporate Tax rules in the UAE. Let’s work to keep your business growing despite the new tax rules, with good plans and proper help.
Corporate Tax Consultancy Services in Dubai, UAE
UAE Corporate Tax Consultancy
As of 9th December 2022, the UAE introduced the Federal Decree-Law No. 47 of 2022, establishing a Corporate Tax (CT) regime applicable to business profits starting from 1st June 2023. This move marks a significant milestone in the UAE’s fiscal landscape, aligning with global tax standards and offering more transparency. At Albab Accounting and Tax Consultancy FZE-LLC, we provide expert UAE corporate tax consultancy to ensure your business remains compliant with the new Corporate Tax Law.
What is the UAE Corporate Tax Law?
Corporate tax regulations in the UAE and globally are complex and constantly evolving. Businesses must:
- Ensure timely compliance with tax laws.
- Identify and leverage tax-saving opportunities.
- Avoid penalties from non-compliance.
- Strategically align tax planning with overall business goals.
Partnering with Albab Accounting and Tax Consultancy ensures you have the expertise needed to stay ahead of these challenges.
Our Comprehensive Corporate Tax Services
The Corporate Tax (CT) Law, effective from 1st June 2023, imposes a tax on business profits within the UAE. This regime was introduced to provide a clear, stable, and internationally recognized tax framework, reinforcing the UAE’s position as a leading business hub in the region.
Key Features of UAE Corporate Tax Law:
1. Tax Rates:
The Corporate Tax rates in the UAE are structured to support businesses while promoting growth and stability:
- 0% on taxable income up to AED 375,000 (for businesses with taxable income below this threshold).
- 9% on taxable income exceeding AED 375,000.
Additionally, businesses operating in Qualified Free Zones may benefit from reduced rates:
- 0% on Qualifying Income.
- 9% on taxable income that is not considered Qualifying Income.
2. Exemptions under UAE Corporate Tax:
Several entities and business activities are exempt from the Corporate Tax (CT) in the UAE. These include:
- Government entities.
- Government-controlled entities.
- Extractive businesses (e.g., oil and gas).
- Non-extractive natural resource businesses.
- Qualifying public benefit entities.
- Qualifying investment funds.
- Public/private pension or social security funds.
- Any juridical person incorporated in the UAE and wholly owned by an exempt entity under specific conditions.
How Albab Accounting and Tax Consultancy FZE-LLC Can Help You Navigate UAE Corporate Tax:
As businesses adapt to this new tax regime, Albab Accounting and Tax Consultancy FZE-LLC stands ready to support your organization in managing Corporate Tax compliance efficiently and effectively. Our UAE corporate tax consultants provide tailored services to ensure your business remains fully compliant with the UAE’s new CT Law, avoiding penalties and maximizing tax efficiency.
Our Key Corporate Tax Services:
- Corporate Tax Registration and Compliance: We ensure your business meets all Corporate Tax registration requirements and stays up-to-date with tax filing deadlines. Our team handles the paperwork and filing procedures, ensuring that your business remains compliant with all aspects of the law.
- Tax Calculation and Filing: Our experienced tax consultants calculate the taxable income, ensuring that you benefit from the 0% tax rate on income up to AED 375,000 and 9% on any exceeding amount. We manage your tax filings to ensure accuracy and timeliness, avoiding potential issues with the UAE Federal Tax Authority (FTA).
- Tax Planning and Strategy: Effective tax planning is essential for optimizing your business’s financial performance. We work with you to create a tax strategy that aligns with the new Corporate Tax regime, ensuring your business benefits from the exemptions and deductions available under the law.
- Tax Optimization for Free Zone Businesses: For businesses operating within UAE Free Zones, our experts can help navigate the specific tax benefits available, such as the 0% tax on qualifying income and 9% on non-qualifying income. We help you understand and manage the complexities of operating in a Free Zone.
- Exemptions and Special Considerations: We assist businesses in determining whether they qualify for any Corporate Tax exemptions based on their activities or ownership structure. Our consultants analyze your business structure to help you take advantage of available exemptions.
Why Choose Albab Accounting and Tax Consultancy FZE-LLC for Your Corporate Tax Needs?
- Expert Knowledge: Our team has an in-depth understanding of the UAE Corporate Tax Law and the intricacies of taxation in the UAE, ensuring your business stays compliant and optimally structured.
- Tailored Solutions: We provide personalized corporate tax strategies that align with your business objectives, helping you minimize liabilities while ensuring full compliance with the UAE tax regime.
- Transparent Services: We believe in providing transparent, clear advice, helping you understand all aspects of Corporate Tax compliance in the UAE.
- End-to-End Support: From corporate tax registration to ongoing tax management, our team offers comprehensive support throughout the entire tax process.
Get Expert Help with UAE Corporate Tax Compliance
The introduction of Corporate Tax in the UAE is a significant shift, but with the right guidance, your business can successfully navigate these changes. At Albab Accounting and Tax Consultancy FZE-LLC, we are dedicated to helping businesses like yours adapt to the UAE Corporate Tax Law and ensure that you remain fully compliant while optimizing your tax position.
Contact us today to schedule a consultation and let our team guide you through the new Corporate Tax regulations in the UAE. Let’s ensure that your business thrives in this new tax environment, with the right strategies and expert support.
