Audit Services in Dubai
The Ministry of Finance has declared the implementation of a new federal corporate tax of 9% in the UAE. This Tax will be levied on business profits above a threshold of AED 375,000 and will come into effect from the start of the financial year on 1st June 2023. In the UAE, corporate tax compliance is mandatory for all companies that are subject to corporate taxation. Companies are required to file annual tax returns and maintain proper accounting records by the applicable tax laws and regulations. If you are a business owner in the United Arab Emirates (UAE). In that case, you know that navigating the complex and ever-changing landscape of corporate tax laws can be a daunting task.
It is where a reliable corporate tax consultant in UAE comes in to assist you with all your tax-related needs. Our firm has a team of experienced and knowledgeable corporate tax consultants who can help you manage your corporate tax obligations effectively, allowing you to focus on growing your business.
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Corporate Tax Registration in Dubai, UAE
Every individual or entity subject to taxation, including those in free zones, must register for a Corporate Tax and obtain a unique Corporate Tax Registration Number.
- The Federal Tax Authority may also require some exempt individuals or entities to register for Corporate Tax.
- Taxable individuals or entities must file a Corporate Tax return for every taxable period, which must be done within nine months from the end of that period.
- The deadline for payment of any Corporate Tax owed for that period is also generally nine months from the end of the relevant period.
Corporate Tax Rate in UAE
The UAE has one of the Middle East’s most competitive Corporate Tax rates. Entrepreneurs may seek Corporate Tax advisory services in the UAE to better comprehend the applicable Corporate
Tax rate to their business model. Corporate Tax in the UAE is levied on businesses’ annual taxable Income as follows:
- The Corporate Tax rate is set at 9% on Taxable Income that exceeds AED 375,000, while
- Taxable Income that falls below this threshold is not subject to Corporate Tax and enjoys a 0% rate