Why Outsource Corporate Tax?
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Utilize our tax knowledge and tactics to maximize your returns on corporate taxes.
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With our streamlined procedures, you can be guaranteed that your corporate tax returns are filed without errors.
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We can help you with the processes in the following government departments.
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Business is Registered For Corporate Tax.
Business is Prepared For The New Tax Regime.
Tax Return Filings Are Completed on Time.
Processes Are Modelled For The Tax System.
My Business is Corporate Tax Compliant
UAE’s Corporate Tax Policy
In 2022, the United Arab Emirates released new corporate tax laws. In order to provide tax transparency in accordance with international norms and to eradicate unfair tax practices, corporate taxation was introduced.
- Companies that make more than AED 375,000 in annual profits are subject to 9% corporate tax.
- AED 375,000 is the maximum amount of your taxable income that is subject to corporate tax. An yearly profit of AED 425,000, for instance, would be subject to the following corporate tax rates:
0% for AED 0 – AED 375,000
9% for AED 375,000 – AED 425,000
Corporate Tax = AED 4,500
i.e., 9% of (AED 425,000 – AED 375,000 = AED 50,000)
- Within nine months following the end of the applicable tax period, corporate tax returns must be filed.
- Dividends, capital gains, real estate investments, and income from oil and gas companies are all exempt from corporate tax.
- As long as they are qualified and don’t transact business with the mainland, corporations operating in free zones are subject to 0% corporate tax. Free zone businesses must, nevertheless, file tax returns.
- Under some circumstances, a collection of businesses may be treated as a single taxable company.
Here are answers to some of the common questions related to VAT in the UAE.
Frequently Asked Questions
Will Corporate Tax replace Excise Tax and VAT?
No, the three distinct tax types—corporate tax, value-added tax, and excise tax—remain applicable in the United Arab Emirates.
What will be the applicable tax period for Corporate Tax?
The applicable tax period shall, by default, run from January 1 through December 31. A company may, nevertheless, use a different 12-month timeframe to prepare its financial statements.
What will be the applicable Corporate Tax rates for free zone businesses?
The entities domiciled in a free zone that meet the qualifications to benefit from the corporate tax system for free zones are referred to as “Qualifying Free Zone Persons” and will pay the following rates for UAE corporate tax.
Qualifying Income is 0%.
9% of Taxable Income that does not meet the qualifying income requirements.
Does a company operating in a free zone have to register and submit returns for corporate tax?
Indeed. All free zone enterprises, whether or whether they are “Qualifying Free Zone Persons,” are required to register and file a Corporate Tax return.
When will the corporate tax policy in the UAE be implemented?
For fiscal years beginning on or after June 1, 2023, the UAE Corporate Tax will be in force.
