UAE Corporate Tax Health Check
The introduction of UAE Corporate Tax introduces additional requirements to your business to manage and report your company’s UAE Corporate Tax obligations from 30th June 2023. Preparation will be essential to optimise your tax obligations and maximise reliefs available under the Legislation.
As an FTA Approved Muwafaq Tax Agency Partner, our service packages comply to UAE Tax Legislative and FTA Muwafaq principals.
If you require best practice guidance to optimise and reduce costs, we provide a comprehensive 360 Corporate Tax Health Check. Our service is designed to assess UAE Corporate Tax impacts on your company structure, accounting model, people, processes, reporting processes, and your organisation’s understanding of the Legislation.
Our scope is complete and includes opportunities to define the most effective UAE Corporate Tax rate, structuring benefits, Free Zone exemptions, Transfer Pricing model, reliefs, compliance, and improvements in reporting. We believe this approach provides a structured model to prepare for the introduction of UAE Corporate Tax and manage the cost of operations.
As a registered FTA Tax Agency with a deep understanding of the Legislation, legal structuring, and expertise in supporting tax compliance for clients across multiple industries, we offer a full solution to your UAE Corporate Tax requirements.
We support 100’s clients with our expertise, best practice ISO 9001 & 27011 quality processes, and systems understanding. With our insight and experience, we can provide you the guidance to ensure your business is operating with the improved cost of compliance and optimise your Tax obligations.
*Initial Consultation is FREE
What Sets Our Service Apart
How We Deliver
Corporate Tax Assessment
Our assessment seeks to address all key aspects (from structuring to reporting) to ensure your business is fully prepared
We identify opportunities and risks to ensure the optimal Corporate Tax model is defined
An overall plan is established to ensure your business is fully prepared. We can also assist you to effect necessary changes
Quality Controlled Delivery
Our service delivery is controlled through our mobile app and portal. We ensure you have access to a team to collaborate and consistently execute your requirements.
How will a health check help your business?
Assessing and planning will ensure your business is prepared to discharge its obligations and benefit from the various reliefs and exemptions to optimise your tax liability.
There are a number of specific areas that require attention prior to the first Corporate Tax fiscal period, these including your business structure and how it can benefit from Tax Group & reliefs, Free Zone 0% Corporate Tax rate, and the nature of your business transactions that may imply transfer pricing requirements.
In addition, you ideally require changes to systems and processes to improve systemised records and accounting granularity to correctly address expense limitations and related/connected party adjustments. Your personnel will require training to manage your Corporate Tax model and ensure they can evolve your tax model as your business changes.
What does it involve?
Subject to your business and transactional structure, our consultants prepare a plan to ensure the necessary domains are assessed to provide reliable and pragmatic advice.
We provide a documented baseline for confirmation followed by a gap/risk assessment and recommendation/implementation plan. If necessary we can support the implementation and also provide on going transfer pricing support.
How much of your time and resources are needed?
Your finance and tax team is required to provision the necessary information and clarifications on a part time basis.
How long will it take?
The health check process is dependent on the complexity of your business and transactions. However, we expect the project to last between 2-4 weeks.
You are a small business, is this necessary?
If you intend to operate your own Corporate Tax model, it is advisable to seek professional advice. As an alternative, we can provide complete outsourcing for your CT obligations and provide the necessary initial and continuous support to your business.
Corporate Tax Resources
The Guide provides further updates and specific reliefs to support start-ups and other small or micro businesses by reducing their corporate tax burden and compliance costs.
The Cabinet Decision addresses a wide range of updates to the Tax Procedures affecting taxpayer obligations and processes subject to FTA enforcement.
This Decision specifies administrative penalties that will be imposed by the FTA for violations related to the Corporate Tax Law effective as of 1st August 2023.
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