UAE Corporate Tax
UAE Corporate Tax will be implemented from 1st June 2023. As a UAE commercial operation, you are obliged to comply with the prevailing legislation and submit UAE Corporate Tax returns for your financial year calculated at 9% on profits above AED375,000.
Preparation is essential to optimise your tax liability. Our consultants can provide you with the necessary assistance and guidance to ensure you benefit from all available reliefs and exemptions under the Legislation.
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Corporate Tax Registration
FTA Tax Agency support to reliably register your business individually or as a Tax Group under the FTA registration procedures.
SME Financial & Tax Solutions
Complete outsource advisory and finance solution for small business to optimise financial reporting, VAT and UAE Corporate Tax.
Corporate Tax Health Check
Our comprehensive 360 Corporate Tax Health Check assesses UAE Corporate Tax aspects from structuring, exemptions, systems, processes, training to transfer pricing considerations
Transfer Pricing
Best practice guidance to define, optimise and reduce costs in your UAE Transfer Pricing model with the continuous support to maintain your transfer pricing rules.
As an FTA approved Muwafaq partner, we provide FTA Muawafaq Services. All our packages are compliant with FTA Muawafaq compliance principles.
Complete solution to manage your financial reporting to managing a start up or small business’s complete UAE accounting, VAT and Corporate Tax obligations.
We include FTA Tax Agency professional advisory to optimise your tax obligations and a free FTA Zoho Books or QuickBooks software license to ensure your business scales seamlessly and benefits from rich reporting insights.
FAQs
Is your business eligible to register and file for UAE Corporate Tax?
All businesses or individuals conducting commercial activities are subject to Corporate Tax Legislation. Corporate Tax will not apply to an individual’s salary and other employment income. However, individuals who are deriving income as a business activity would be covered under Corporate Tax.
A narrow scope of entities is exempt from Corporate Tax such as Government entities or extractive businesses (upstream oil and gas sector).
If you are not VAT registered, is registration for UAE Corporate Tax still necessary?
Corporate Tax is a distinct and separate obligation to VAT. No minimum turnover threshold is applied and you must register and fulfill your obligations under the Corporate Tax Law. VAT registration is not required to meet your Corporate Tax obligations.
Are free zones exempt from UAE Corporate Tax?
The Corporate Tax Law still applies to Free Zones and is not automatically exempt. Special rules exist for Free Zones and you may benefit from a 0% rate on qualifying income subject to meeting requirements. Only satisfying these requirements can a Free Zone company benefit from the exemptions.
How Is Corporate Tax calculated?
What type of income is exempt from UAE Corporate Tax?
What reliefs and exemptions are available?
Can you include all expenses to determine your UAE Corporate Tax liability?
When will your business need to file and settle your UAE Corporate Tax liability?
You are a small business, does UAE Corporate Tax still apply?
Yes. The MoF has announced a small business tax relief scheme available to small businesses. Qualifying businesses as having no taxable income and being asked to undertake simplified compliance obligations.
The threshold is based on the revenue and not the profits/taxable income and is expected to be confirmed in a subsequent Cabinet Decision
Are you required to manage transfer pricing rules?
If your business conducts transactions between related parties and connected persons, you are expected to implement a formal Transfer Pricing policy and rules. This will include a Disclosure form, Master and local files detailing your formal policy, and pricing determination evidenced by empirical benchmarks.
What is GAAR?
General Anti-Abuse rule, or “GAAR” applies to situations where one of the main purposes of a Transaction is to obtain a Corporate Tax Advantage not consistent with the intention or purpose of the UAE Corporate Tax Law.
The FTA will address and counteract or adjust the transaction. The GAAR only applies to transactions or arrangements entered into on or after the date the UAE Corporate Tax Law is published in the UAE Official Gazette of 10 October 2022.
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Corporate Tax Resources
MoF Issues Corporate Tax Guide on Small Business Relief
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.
FTA Published UAE New Tax Procedures Law & Penalty Regime
The Cabinet Decision addresses a wide range of updates to the Tax Procedures affecting taxpayer obligations and processes subject to FTA enforcement.
FTA Publishes Corporate Tax Administrative Penalty Regime
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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