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.
We offer the following corporate tax services across the UAE to ensure businesses remain compliant and receive expert guidance:
