Corporate tax consultant Dubai : Corporate tax compliance is one of our company’s areas of expertise. In addition to helping businesses understand and comply with tax laws, our team of tax professionals has extensive experience in this area. As a result of our experience and knowledge in this field, our corporate tax consultants provide you with straightforward and timely advice on business tax issues in Dubai, UAE.
In detail, our team of experts examines your business, its products and services, as well as your business transactions. In order to ensure compliance with the law, our company performs company tax calculations based on what we know. Having worked with clients in a variety of industries and focusing on achieving results, we can ensure that your business pays the proper amount of taxes.
Corporate tax consultant Dubai
Corporate Tax in UAE (UAE CT)
The Ministry of Finance has announced the introduction of a 9% federal corporate tax in the UAE on business profits with a threshold of AED 375,000. This comes into effect from the financial year beginning 1st June 2023.
UAE Corporate Tax is amongst the most competitive in the world and the lowest in the GCC. The UAE CT is a Federal tax and will therefore apply across all Emirates and The Federal Tax Authority will be responsible for the administration, collection, and enforcement of UAE CT.
What is Corporate Tax?
Corporate Tax is a form of direct tax levied on the net income or profit of corporations and other businesses.
Corporate Tax is sometimes also referred to as “Corporate Income Tax” or “Business Profits Tax” in other jurisdictions.
Will UAE CT be applicable to businesses in each Emirate?
The UAE CT is a Federal tax and will therefore apply across all Emirates
Who will be subject to UAE CT?
UAE CT will apply to all UAE businesses and commercial activities alike, except for the extraction of natural resources, which will remain subject to Emirate level corporate taxation
How determine whether a legal entity has a “business” that will be within the scope of UAE CT?
All activities undertaken by a legal entity will be deemed “business activities” and hence be within the scope of UAE CT
What will the UAE CT rates be?
The CT rates are:
- 0% for taxable income up to AED 375,000;
- 9% for taxable income above AED 375,000; and
- a different tax rate for large multinationals that meet specific criteria set with reference to ‘Pillar Two’ of the OECD Base Erosion and Profit Shifting project