CORPORATE TAX
Corporate Tax in Dubai - Advisory
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Corporate Tax in Dubai
Corporate tax in Dubai is a form of direct tax imposed on the profit or net income of corporations and other business entities in the UAE. Federal corporate tax in UAE was announced on 31 January 2022 and a new decree regarding the implementation of Corporate Tax in UAE was released on 09 December 2022. Corporate tax in Dubai is considered to be effective from June 2023. The tax will be levied on all corporations and commercial activities in the country, except for the “extraction of natural resources” which will remain subject to emirate-level taxation. Whatever type of business you are into, start-up or global business, it is expected to follow the updated tax rules and pay the right amount of tax to the government. Corporate tax in UAE regulations applies to all individuals and businesses under the commercial licence of the UAE. Businesses need to evaluate the premises of corporate tax to implement it smoothly.
Objectives Of Corporate Tax in Dubai
With the introduction of corporate tax, the government aims to:
- Affirm the nation’s position as a global business and investment hub
- Accelerate the growth and transformation to realize the nation’s strategic objectives
- Eliminate harmful tax practices in the nation
Rates Of Corporate Tax
All businesses in the UAE with a taxable profit of more than 375,000 AED are subjected to corporate tax. The rate of corporate tax is 9% of the net profit incurred by the businesses. UAE will continue supporting small businesses and start-ups with 0′ % tax if the net profit is up to 375,000 AED.
Subjects To UAE Corporate Tax
- UAE companies and other juridical persons that are incorporated or effectively managed and controlled in the UAE
- Natural persons who conduct a Business or Business Activity in the UAE as specified in a Cabinet Decision to be issued in due course
- Non-resident juridical persons that have a Permanent Establishment in the UAE
What MAATS do in Corporate Tax Advisory?
Running a business takes a hard lot to do. Many of the tasks, especially accounting and taxation are complex and time-consuming. Your business requires expert consultancy support to abide by the restructured tax policies and regulations in the UAE.
As a certified corporate tax services in Dubai, MAATS, the best accounting firm in Dubai helps businesses comply with corporate tax in UAE with secured services in Corporate tax accounting, Corporate tax planning, and all related Corporate tax consultancy in Dubai. We provide you with tax analyses, tax preparation, tax payments and submission of tax returns on time and walk you through the procedures to avoid higher implementation costs. Our team will coordinate and collect the company’s financial data, file annual returns, implement plans for optimizing the amount of taxes the company pays, and ensure the financial documents are accurately complying with the tax regulations.
Services we provide corporate tax services in Dubai include the following:
- Providing eligible tax optimization within the possible legal frame
- International tax planning services suitable for the requirements and nature of each business
- Tax risk management
- Regular updates on the corporate tax
- Ensures the client is prepared for the tax filing season
- Giving guidance minimising the tax amount within the legal framework using exemptions, reductions etc provided by the authorities
- Long-term assistance in maximizing the tax benefits from the government
MAATS is indebted to attending to queries and handling requests right at your convenience offering accounting, consulting and related services to businesses across the globe, especially in the Middle East. Contact us to discuss and make the plan.