On January 31, 2022 the Ministry of Finance of the United Arab Emirates (UAE) announced the introduction of a federal Corporate Tax on business profits, effective from the financial year beginning June 1, 2023.
The tax rate is a uniform 9% across all emirates and all commercial activities and is payable on profits earned above AED 375,000 during a financial year. Our Corporate Tax experts will assist you in smooth implementation of this legislation in your business.
We can assist in:
- Registration for Corporates, individuals, and tax groups
- Applicability Assessment of the Corporate Tax regulatory changes in your business
- Application of Corporate Tax exemptions (for Charities, public benefit organisations and Investment funds)
- Book-keeping and segregation of accounts for Free Zone entities
- Tax planning and structuring
- Assistance in the UAE for applicable foreign entities
- Application of Foreign Tax Credit
- Tax residency Certificates
- Impact analysis for proposed foreign transactions
- Reviewing the tax aspects of your contracts and other binding international agreements
- Transfer pricing implementation including assistance in maintaining relevant documentation
- Transaction structuring in line with Transfer Pricing Regulations
- Tax return filing and tax payment compliances
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