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Corporate Tax Consulting Services in UAE

The UAE Ministry of Finance has introduced Corporate Tax, a direct tax imposed on the net income of corporations and other businesses, on 9th December 2022 and this is going to be effective for financial years on or after 1st June, 2023.

Corporate Tax Consulting Services in the UAE are designed to help businesses comply with the newly introduced corporate tax regulations, optimize their tax structure, and plan strategically to minimize their tax liabilities. With the introduction of the UAE’s Corporate Tax Law, businesses must ensure that they align their operations and finances to meet compliance requirements.

Understanding Corporate Tax in the UAE

  • Implementation: Corporate Tax was introduced in the UAE on June 1, 2023.
  • Rate:
    • Standard Corporate Tax Rate: 9% on taxable profits exceeding AED 375,000.
    • 0% Rate: Applicable for taxable profits up to AED 375,000 to support startups and small businesses


CT will apply to:

  1. Businesses and individuals conducting business activities under a commercial licence in the UAE.
  2. Free zone businesses
  3. Foreign companies and individuals only if their business is effectively managed and controlled in the UAE.
  4. Banking operations.
  5. Businesses that encompass construction, development, real estate management, agency, and brokerage activities.

Corporate Tax Registration Services

All Taxable Persons (including Free Zone Persons) and those exempt persons who are required to register for corporate tax must register for Corporate Tax and obtain a Corporate Tax Registration Number.

FINANCIAL CUBE’S ROLE IN YOUR BUSINESS CT REGISTRATION
  1. Initial Assessment and Consultation
  2. Prepare Required Documents
  3. Access the Federal Tax Authority (FTA) Portal
  4. Application Process Management
  5. Liaison with FTA
  6. Submit Your Application
  7. Receive CT Registration Certificate
  8. Post-Registration Obligations
  9. Audit and Review Services

Corporate Tax Return Filing

During each Tax Period, Taxable Persons are expected to submit a Corporate Tax return within nine months after the conclusion of the applicable period. The same deadline would apply for the payment of any Corporate Tax due in respect of the Tax Period for which a return is filed.

FINANCIAL CUBE’S ROLE IN YOUR BUSINESS CT RETURNS
  1. Determine Filing Requirements
  2. Prepare Financial Statements
  3. Calculate Taxable Income
  4. Access the FTA
  5. Complete the Corporate Tax Return Form
  6. Submit the Corporate Tax Return
  7. Make Payment (If Applicable)

Deregister for UAE CT

Deregistering for Corporate Tax (CT) in the UAE involves formally closing your Corporate Tax registration with the Federal Tax Authority (FTA). This process is essential for businesses that are no longer operating, have ceased taxable activities, or are otherwise not required to maintain their Corporate Tax registration.

FINANCIAL CUBE’S ROLE IN YOUR BUSINESS CT DE-REGISTRATION
  1. Prepare Final Tax Return
  2. Access the FTA
  3. Navigate to CT Deregistration
  4. Complete the Deregistration Application
  5. Gather Required Documents
  6. Complete the Deregistration Form
  7. Submit the Application
  8. Await Confirmation
  9. FTA Review and Approval