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The tax and compliance requirements of the majority of UAE firms are anticipated to completely alter with the adoption of corporate tax in the UAE. The UAE is new to corporate tax and, as such, businesses will require the assistance of a consultancy that has an expert tax team. FTA approved tax agent, has a tax team of 50+ professional staff members, who have served more than 800 clients for tax services in the UAE. The company has global exposure and is in a position to help companies comply with CT once it becomes effective.
The United Arab Emirates, which is abode to the significant corporate gateway of Dubai, will continue to have one of the lowest corporate tax rates in the world. This proposal stems from the UAE’s intention to comply with international tax rules, reflecting similar efforts in other Gulf nations, while reducing regulatory burdens for UAE firms and protecting small businesses and start-ups.
We assess the applicability and impact of Corporate Tax implementation in UAE on business and Free Zone (including FFZ) entities and advise on withholding taxes and exemptions that can be availed.
We assist in registration for Corporate Tax and computation of taxable income subject to Corporate Tax in UAE. Subsequently, we assist in the computation of tax liability and timely preparation and filing of tax returns.
We further represent our clients before tax authorities thereby enabling them to focus on their businesses.
- Near Ajman koreafurniture, lucky center– al jurf opp:Municipality Ajman
0674 60 111
050 5100 740
Scope of Corporate Tax
The United Arab Emirates has implemented a federal tax structure that applies to all enterprises and commercial activity throughout the emirates. Let’s look at the scope of corporate taxation given below.
How does Corporate Tax affect Foreign Direct Investment in UAE?
The implementation of a corporate tax is only one example of how the UAE is evolving and expanding rapidly. The government’s objective is to restructure the nation’s economy by shifting away from oil and gas dependency, and it is working to establish itself as a digital and technological powerhouse.
The UAE’s intent to alter its corporate structure and stick to international regulations can be seen in the first massive revamp of labor law, the removal of the necessity for a UAE national to own at least 51 percent of a UAE company, and the change of the working week from Sunday to Thursday to Monday to Friday. The UAE will keep enticing highly skilled professionals since employment income will remain tax-free, and no tax will be applied on income or profits derived from personal holdings. Yet, as a result of these developments, the cost of living and conducting business has risen.