Corporate Tax Services in UAE
Optimize your business finances with timely and accurate corporate tax filing & registration services in the UAE.
UAE New Corporate Tax
Corporate tax services in the UAE have been introduced recently, and such services are imperative for businesses here to comply with the legal formalities and make sure they save themselves from penalties imposed by the FTA. The Federal Tax Authority or FTA is a government body that deals with the management, collection as well as enforcement of federal taxes. It was set up in 2016 by His Highness Sheikh Khalifa Bin Zayed Al Nahyan, the President of the UAE, through the Federal Decree-Law 13 of 2016.
In 2022, the Ministry of Finance of the UAE announced that they planned to introduce the following year Federal Corporate Tax on the accounting net profits, applicable throughout all of the Emirates. Corporate Tax in the UAE is one of the most competitive ones across the globe, and it is the lowest among other GCC nations. UAE Corporate Tax applies to resident as well as non-resident individuals dealing in business activities in the UAE, and certain specific criteria determine the tax liability. The structure differentiates between natural persons, juridical entities, and exempt categories.
What is Corporate Tax in the UAE?
Corporate tax is a form of direct tax levied on the total profit or net income sourced from the business income of big companies and other bodies. Corporate tax is also recognized as business profits tax or corporate income tax. This tax applies to all forms of UAE businesses, barring those connected with extracting natural resources. For the latter, tax will be levied as decided by emirate-level corporate taxation. In the case of international businesses and persons, they are to pay corporate tax only while running a business or trading in the UAE in a continuous, or regular manner. Additionally, UAE corporate tax applies in equal measures to all groups of profits and even other income provided in the reports of financial statements.
Corporate Tax Services in Dubai, UAE
Many firms offer a variety of comprehensive and prominent tax services in order to give taxpayers the chance to gain from such services in the easiest and most profitable ways. RichMan Associate offers all the following services:
- Tax Registration & Deregistration: Through this service, the qualified individuals are registered by the FTA for Corporate Tax to let them get a Corporate Tax registration number, thereby carrying out their obligations. In the case of a legal person, a trade license, Emirates ID, or the passport of authorized signatory proof and authorization for the above signatory are needed. If the applicant is a natural person, then a Trade license and Emirates ID or the passport of the applicant are required. You can also use the deregistration service to deregister from your existing Corporate Tax registration with the FTA.
- Corporate Tax Compliance & Filing: The First step to tax compliance is registration. Get a free consultation with our team at RichMan Associate to ensure that you have the right documents. They will study your business in depth to strike out the areas in your business that are at risk with compliance. Services are offered to ensure tax-efficient business of the client the entire process of Tax compliance is done through the latest software that draws from the customer's accounting system to file your tax return in just a few simple clicks. Tax experts manage several clients belonging to various industries.
- Tax Planning & Advisory: Products that are unsafe to the environment or detrimental to human health are exposed to excise taxes in the UAE. Staying aware of the excise tax regulations on your own can be challenging, but with the right service provider, you can keep your taxes minimal and stay in compliance at the same time. Proficiency in excise tax requirements, perfect registration, and deciding which items are covered by an excise tax are some of the services. The other area of tax planning services includes efficient management of excise tax liabilities. Book a consultation call with us so that we can help you develop a plan to lessen your excise tax obligations.
- Transfer Pricing Support: Our Transfer Pricing service in the UAE is an important part of our tax consultancy services. This involves an accounting method that speaks about the price, that different companies operating within the same group ask from one another for exchanging goods and services. It shows the market price of the service or good. Get a consultation call to know how Transfer pricing can be used by multinational firms for allocating profits for tax purposes.
- Audit & Documentation Assistance: Through, the Federal Tax Authority, tax audit services in Dubai verify that taxable entities clear up outstanding debts and submit due taxes quickly. They support compliance by ensuring appropriate issuance of Tax Invoices and receipt of qualified VAT credits from suppliers. Registered tax agents provide firms with both pre and post-audit assistance to ensure VAT compliance.
Corporate Tax Deadlines & Timelines to Avoid Penalties
If the total turnover of your company crosses a Million for 2024 then you must fulfill the Corporate Tax Registration by the date 31 March 2025. After the tax registration, you need to file your Corporate Tax Return by 30 September 2025. In case a business is unsuccessful in filing its corporate tax return on the given time, a fine of AED 500 has to be paid per month. In case there is a delay of more than 12 months, then the penalty goes up to AED 1,000 per month.
Why Choose RichMan Associate for Corporate Tax Services in UAE?
RichMan Associate in UAE is a name to reckon with as our corporate tax services are of the topmost quality. Our expert team offers a host of services, ranging from tax pricing support to tax compliance, tax registration and deregistration, and tax planning, to name just a few.
FAQs on Corporate Tax in the UAE
What is the corporate tax rate in the UAE?
The corporate tax rate in the UAE is at 9%. The corporate tax rate for those with a net profit up to AED 3,75,000 is 0.
Who has to pay corporate tax in the UAE?
A federal tax system in the UAE is applicable to all forms of businesses as well as commercial activities functioning within the seven emirates with exceptions like Businesses dealing in the extraction of natural resources.
