Corporate Tax Consultant
What is Corporate Tax in UAE?
Corporate Tax comes forward as a form of direct tax levied straight on the net income or the profits of both corporations and businesses alike.
The term Corporate Tax is oftentimes also referred to as “Corporate Income Tax” or “Business Profits Tax” in several other jurisdictions but generally, as per tax legislation, they both mean the same.
Reasons for introducing Corporate Tax
A highly competitive corporate tax regiment adapted and based on international tax laws and best practices will warrant the UAE’s position as a commanding global hub for both business and investments equally, accelerating the UAE’s overall developmental schemes and ideations, and transforming them to achieve its strategic objectives.
Introducing a regulated Corporate Tax regime affirms the UAE’s sole commitment to meeting international standardizations for transparency and helps prevention of illegal tax theft and other related unlawful practices.
Why do businesses need corporate tax consultants ?
We have been guiding VAT registration in the UAE since its inception.
We are a responsibly competent finance based network offering accounting and corporate tax consulting services in the UAE.
Offering a wide service portfolio in filing taxations, auditing, accounting and bookkeeping. We’re a truly wholesome financial service provider offering high level VAT filing services across UAE along with tailored Corporate Tax solutions in Dubai for all your business and accounting needs in the Gulf region.
What you get with our Service
The easiest way to legally comprehend and rightly follow all taxation policies is achieved by first selecting an expert corporate tax consultant that’s reliable and experienced.
Our upgraded, modern and cutting edge tax consultations and financial services include all that your business needs-
- Including varied tax consultancy services like corporate tax, VAT and UAE tax with paperless digital accounting.
- Company Liquidation
- LLC and Free zone company liqudationg services
- Filing business taxes
- Free Zone Services
- Free zone annual auditing, accounting and company formations
Our other VAT & Tax services
Our varied service repertoire in the world of finance included other services such as
More about Corporate Tax in Dubai, UAE
The UAE Corporate Tax will apply to:
- All businesses and individuals conducting financial activities registered under a commercial license in the UAE.
- Free zone businesses (In The UAE) corporate tax regime will continue to regulate the incentives currently being offered to the free zone businesses that comply with all essential regulatory requirements and dont conduct businesses set up in the UAE’s mainland.)
- Foreign entities and individuals are levied only if they conduct a financial trade or business in the UAE in an ongoing or regular manner
- All banking operations.
- Businesses that are engaged in real estate management, construction, development, agency and brokerage.
Hire us today and be prepared for Corporate Tax 2023, please click here to contact us.
FAQ's
Who are eligible for corporate tax in Dubai?
Eligibility criterions – UAE corporate tax will apply to all businesses, corporations and commercial activities alike, only except for the extraction of natural resources, which will still remain subject to the Emirate level corporate taxation .
How is corporate tax calculated in UAE?
The taxable income will be calculated on the net accounting profit of a business, post adjustments for certain articles as specified under the UAE corporate tax law.
The net accounting profit of a business is equal to the amount reported in its annual financial statements that’s prepared in accordance with the international accounting standards and protocols.
The Ministry of Finance state current corporate tax rates as:
- 0% for taxable income up to AED 375,000
- 9% for taxable income above AED 375,000
UAE Corporate Tax Rate : For free zones.
Free Zone (including financial free zones) businesses in UAE will be subject to Corporate Tax. However, its stated that the Corporate Tax regime will continue to recognize the corporate tax incentives currently offered to all free zone businesses that comply in with regulatory requirements and dont conduct business in mainland UAE
- All businesses registered in a free zone will be required to file a Corporate Tax Return.
What exemptions are there to the UAE corporate tax 2023 scheme?
Below are the list of exemptions from the UAE corporate tax. Which include
- Businesses engaged in the extraction of natural resources are exempted from corporate tax and remain subject to the current Emirate level corporate taxation.
- All dividends and capital gains earned by a UAE based business from its qualifying shareholdings will be exempt from corporate tax .
- All qualified intra-group transactions and reorganizations will be exempted from corporate tax, provided the regulatory conditions are met.
Why should Financial Cube be your first choice when hiring the best corporate tax consultant in UAE?
At Financial Cube, we have thrived in the UAE by offering a wide service portfolio in filing taxes, auditing, accounting, and bookkeeping. Financial cube is a truly wholesome corporate tax consultant in Dubai.
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