The Federal Tax Authority will be responsible for the administration, collection and enforcement of UAE CT.
Announcement
Announcement
As tax consultants in UAE, we provide services for the proposed UAE Corporate Tax in Dubai (to be levied from June 1, 2023), on all UAE businesses (companies, individual or other form of entities), certain foreign companies having Permanent Establishment/ UAE sourced income, amongst other. As a tax consultant in Dubai, we help you with the following based on draft UAE Corporate Tax law : –
Pre- Implementation of Law
Post implementation of Law
For detailed services, refer our Service Section below
UAE Corporate Taxation and compliance services
Currently, there is no Federal CT regime in the UAE, except , Corporate Tax (CT) on oil and gas companies and branches of foreign banks at an Emirate level. UAE Corporate Tax is proposed to be levied from June 1, 2023, at the rate of 9% on net profit after certain adjustments on income above AED 375,000 . The tax is applicable to business and commercial activities in the UAE, carried out by an person, domestic or foreign. However, other income of individuals like rent, interest, dividend and employment are exempt from tax . UAE Corporate Tax has been introduced to meet global minimum effective tax rate concept proposed by Pillar II of the OECD BEPS
The UAE has introduced Economic Substance Regulations (ESR) effective from 1 January 2019. Under ESR provisions, UAE entities (both Mainland , FreeZone and branches of foreign companies ) carrying out certain specified activities, like distribution, services to foreign affiliates, earning interest income, Holding companies, Leasing activities, are required to maintain economic substance in respect of each relevant activity in the UAE. The entity has to comply with annual filing of ESR, and non-compliance may results in penalties from AED 20,000 to AED 70,000 per annum. Contact us today for ESR compliance of your entities.
Every business subject to Corporate Income Tax in UAE has to register with the FTA within the prescribed period. Further, business which cease to exist have to make an application for deregistration. Once the law is introduced, our team can assist you with registration and de-registration under the UAE Corporate Tax law.
As a UAE CT advisor, we can assist you in UAE Corporate Tax compliance such as:
Sorting Tax’s team works closely with you to understand the fact pattern and provide customized solutions on Dubai Corporate Income Tax to cater to your specific needs. Our UAE CT consultant plans work to meet deadlines and minimise any penalties on you for non compliance with statutory requirements . We take care of your taxes, while you focus and grow your business.
Deductions under Income Tax available for FY 2022-23: With a
Introduction - Chapter 17 Tax Returns and Clarifications under UAE
Introduction - Chapter 11- Transfer of Tax Loss under UAE
Chapter 1: General Definitions under the UAE Corporate Tax Law
Introduction - Chapter 2 - Imposition of Corporate Tax and
Introduction - Chapter 4 Taxable Person and Corporate Tax Base
Deductions under Income Tax available for FY 2022-23: With a
Introduction - Chapter 17 Tax Returns and Clarifications under UAE
Introduction - Chapter 11- Transfer of Tax Loss under UAE
Chapter 1: General Definitions under the UAE Corporate Tax Law
Introduction - Chapter 2 - Imposition of Corporate Tax and
Introduction - Chapter 4 Taxable Person and Corporate Tax Base
The Federal Tax Authority will be responsible for the administration, collection and enforcement of UAE CT.
Every business subject to Corporate Tax in Dubai have to mandatorily register with the FTA within the prescribed period.
Corporate Income Tax Dubai is proposed to be levied from June 1, 2023, on the profits and gains of business carried out in Dubai by the non-resident as well as the resident of Dubai.
The Corporate Tax in Dubai (UAE) will be levied at the rate of 9% on the net profit or loss after certain adjustments and deductions , on income above AED 375,000.
Dubai capital gains is chargeable to tax at the rate of 0%. This is both for the resident shareholders of UAE , as well as NR shareholders and foreign companies , who invest into capital assets in the UAE, in respect of the following capital assets :
Free Zone companies in UAE would be exempt from UAE corporate tax on their taxable profits, if they meet the condition specified by their respective Free Zones and do not do carry out business with mainland entities.
The Federal Tax Authority will be responsible for the administration, collection and enforcement of UAE CT.
Only Licensees and Exempt Licensees that undertake a Relevant Activity (irrespective of whether the Licensee or exempt Licensee has earned income from the Relevant Activity during the financial period) with a financial year commencing on or after 1 January 2019 and ending on or before 31 December XXXX are required to submit an ES Notification by not later than six months after the last day of the end of each FY.
The Regulations of filing of ES Notification or Report apply to Licensees that carry out any one or more of the following Relevant Activities.
If an entity is carrying out any of the relevant activity specified under ESR regulations, it is required to undertake the following compliances :
We have satisfied customers who continue to patron us for new business. We are regularly providing impact analysis of UAE Corporate tax to our clients.
As an International Tax Consultants, we provide services for FDI, Inbound & Outbound Investment and Transfer Pricing
We provide services for Income Tax Return filing, Tax Audit & Transfer Price, Taxation and Compliances, Income Tax Assessment
We enhance your corporate value by providing professional advice for M&A, foreign investment and corporate restructuring
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