For corporate tax purposes, Taxable Persons are advised to avail of the services of top corporate Tax Consultants in Dubai to seamlessly prepare for corporate tax registration and filing. UAE Tax Consultants assist companies to stay compliant with the Federal Tax Authority’s regulations, to which noncompliance accrues hefty fines. There are a number of reputable Tax Consultants in Dubai who are committed to furnishing effective corporate tax advisory services, strategies, and solutions.
The Importance of Availing the Services of UAE Tax Consultants
UAE Tax Consultants provide companies with services that include, corporate tax readiness, registration and filing, and ensuring compliance with the statutory tax regulations. Additionally, Tax Consultants in the UAE furnish expert tax advisory, corporate accounting and budgeting assistance, and corporate tax planning and consulting, to mention a few. Top Tax Consultants are well-versed with the prevalent Tax Laws in the UAE, which, therefore, ensures Taxable Persons stay compliant with the UAE Corporate Tax Law.
Top 10 Corporate Tax Consultants in UAE
CMS team of experts works across sectors and borders in more than 40 countries worldwide to deliver advice to business operations. The firm is committed to helping businesses mitigate risk and benefit from innovation, enabling organizations to thrive. CMS also advises clients on domestic and cross-border tax issues in the United Arab Emirates. The firm’s client base crosses a wide range of industries and its audit staff are able to apply skills and specializations which benefit your business as a whole.
2. Deloitte Middle East LLC
A leading professional services firm, Deloitte offers corporate taxation advice via its corporate tax function in Dubai. Their corporate taxation team is highly experienced and well-versed in the applicable corporate laws of the region and provides corporate tax compliance, planning, and consulting services as well as corporate accounting and budgeting assistance.
3. Crowe Horwath International
Crowe Horwath International is a top international player providing corporate tax solutions across the Middle East, it offers a wide range of corporate tax services including Tax Planning and consulting, Corporate Accounting and budgeting Assistance, Corporate Tax Compliance and advisory, and more.
4. Ernst & Young (EY)
An eminent name in both consultancy and auditing services in the UAE, EY works closely with clients to provide comprehensive corporate taxation solutions. Services include corporate tax planning & consulting, corporate tax compliance & advisory services as well as corporate accounting & budgeting assistance.
5. PwC Middle East
A world-renowned name in corporate taxation services, PwC has been offering corporate tax solutions across the MENA region for many years now. Their corporate taxation team is highly experienced and provides a range of corporate tax services including corporate tax compliance & advisory, corporate accounting & budgeting assistance, and corporate tax planning & consulting.
6. KPMG Middle East
It is a leading professional services firm in the UAE, KPMG provides corporate taxation advice via its corporate tax function in Dubai. Their corporate tax team is experienced and well-versed in the corporate laws of the region and offers corporate tax compliance, corporate tax planning & consulting as well as corporate accounting & budgeting assistance.
7. Farahat & Co
Farahat & Co. is UAE UAE-based tax and auditing firm in Dubai. It is registered and accredited under distinct disciplines in the UAE which include, courts, prosecution chambers, free zones, major banks, arbitration centers and tax consultants. It provides a broad array of expert services to its clients in diverse industries, which include and is not limited to legal accounting, audit services, consulting, expert witness, dispute support, case management, fraud examining, forensic accounting expert witness, liquidation and company deregistration, business setup, payroll management and HR, trademark registration services, and employee relocation.
BDO’s approach to risk assurance provides a challenging mix of talent, experience, and determination to find the best solution for you and your firm. BDO is an international network of public accounting, tax, and advisory firms that perform professional services under the name of BDO. As one of the world's leading audit and accounting networks, BDO audits many well-known and respected companies, including companies regulated by DFSA and ADAA. Whether the audit is a legislative requirement or commissioned for a special purpose, the firm is committed to a high level of service and expertise
9. Grant Thornton
Grant Thornton’s diversified team of experts combines a perfect blend of international experience across several industry sectors, technical expertise, and commercial nuances with a commitment to delivering exceptional value to the business. The firm supports multinational groups to optimize their tax structures. It assists businesses in analyzing existing group transactions and inter-group supplies, as well as advising on potential implications of various taxes to facilitate an efficient Group tax structure.
10. Nexia International
Nexia International’s global reach enables you or your business to benefit from an extensive portfolio of cross-border advice and tax consulting services. Member firms advise inbound and outbound international businesses on a wide range of tax compliance, tax planning, and tax advisory issues. Our regional groups and task forces deal with hot topics, including e-commerce, transfer pricing, and the taxation of expatriates, in order to ensure our member firms can keep you up to date with the latest developments.
Corporate Tax Services
Farahat & Co is the leading expert in corporate tax consultancy in Dubai, UAE, offering a comprehensive range of services to cater to your corporate tax needs. The services include:
- Corporate Tax Advisory Services:
As your trusted Corporate Tax Consultants in Dubai, we evaluate the implications of Corporate Tax implementation on businesses. We provide expert guidance on withholding taxes and available exemptions. Additionally, we offer insights on corporate tax matters related to group entities, highlighting potential risks and addressing challenges faced by taxpayers.
- Compliance Services:
Our services encompass Corporate Tax registration assistance and the calculation of taxable income subject to Corporate Tax regulations in Dubai, UAE. We handle the meticulous computation of your tax liability and ensure the timely preparation and submission of tax returns.
- Tax Optimization Strategies:
We, as your reliable Corporate Tax Consultants, focus on optimizing your corporate tax strategy. Our seasoned professionals examine your business structure, financial transactions, and operations to pinpoint opportunities for tax savings. Whether it's through meticulous tax planning, the utilization of incentives, or the exploration of tax-efficient structures, we work to minimize your tax liabilities while adhering to Dubai's tax laws.
- Representation Services:
In our representation services, we provide invaluable support to our clients. This includes preparing written submissions, responding to notices, and filing written appeals against unfavorable tax adjustments or penalties imposed by tax authorities concerning Corporate Tax implementation in Dubai, UAE. We also represent our clients directly before tax authorities, allowing them to concentrate on their core business activities.
- Transfer Pricing Consultation:
For multinational corporations operating in Dubai and Abu Dhabi, navigating the intricacies of transfer pricing is vital. Our team of experts specializes in transfer pricing regulations, ensuring you establish and maintain arm's length pricing for transactions and agreements involving related parties and connected individuals. We provide comprehensive documentation services to support your transfer pricing policies, ensuring compliance and reducing the risk of disputes with tax authorities. With our guidance, you can optimize your transfer pricing practices while maintaining full regulatory compliance in the UAE.
The tax experts listed above offer a comprehensive range of corporate tax consulting services that can help businesses stay compliant with tax regulations and maximize their corporate tax savings. Additionally, UAE Corporate Tax Consultants are well-versed in corporate tax advisory services, corporate laws, corporate accounting and budgeting assistance, corporate tax planning, and consulting. This assists businesses in navigating and combating any corporate tax complexities and averting penalties for noncompliance. Therefore, contact us today and we shall be happy to assist you.
What is "Business" and "Business Activity" under UAE Corporate Tax Law?
Within the framework of the UAE Corporate Tax Law, the terms "Business" and "Business Activity" serve to pinpoint the circumstances under which specific individuals or entities incur liability for UAE Corporate Tax. Essentially, they establish the categorization of a Person as a Taxable Person. In this context, a "Business" encompasses any economic endeavor conducted by an individual or entity, regardless of its duration. It is inherently driven by a profit motive and necessitates a systematic and organized approach to its execution. It is crucial to note that, for UAE Corporate Tax purposes, a Business or Business Activity retains its classification even if it does not yield a profit. When applying the Corporate Tax Law to companies and other legal entities, all activities carried out and assets utilized or held are generally regarded as components of a "Business."
How to determine Resident Persons under UAE Corporate Tax?
Entities incorporated within the UAE, including Limited Liability Companies, Private Joint Stock Companies, Public Joint Stock Companies, and other UAE legal entities, are designated as Resident Persons and consequently subject to Corporate Tax. Any entity incorporated in the UAE is automatically recognized as a "Resident" Person for UAE Corporate Tax. Furthermore, natural persons engaged in a Business or Business Activity within the UAE are also classified as Resident Persons for UAE Corporate Tax. In the case of foreign companies, they may attain Resident Person status for UAE Corporate Tax if they are "effectively managed and controlled" within the UAE. The assessment of where a company is effectively managed and controlled involves a comprehensive evaluation of all relevant facts and circumstances, with a pivotal factor being the location where the company's board of directors makes strategic decisions affecting the company.
Who are Non-Resident Persons under UAE Corporate Tax?
Under the provisions of the Corporate Tax Law, a legal entity is categorized as a Non-Resident Person if it is incorporated in a foreign jurisdiction, and its effective management and control occur outside the UAE. For natural persons, the designation of Non-Resident Person for UAE Corporate Tax is applicable when they are not engaged in a taxable Business or Business Activity within the UAE.
Are Non-Resident Persons Taxable under UAE Corporate Tax?
Non-resident persons are subject to UAE Corporate Tax under specific conditions, which encompass:
- Taxation on income attributed to their Permanent Establishment in the UAE.
- Taxation on income linked to a nexus within the UAE, as determined by Cabinet Decision No. 56 of 2023.
- Taxation on income sourced within the UAE, subject to a 0% Withholding Tax.
How to Determine Taxable Income under UAE Corporate Tax?
The calculation of n Taxable Income for a given Tax Period relies on the net profit or loss of a business, as reported in its financial statements prepared in compliance with International Financial Reporting Standards (IFRS). However, adjustments are necessary for specific items stipulated in the Corporate Tax Law and related implementing decisions. These adjustments encompass unrealized gains and losses (subject to the election regarding the application of the realization principle), exempt income like qualifying dividends and capital gains, gains or losses stemming from transfers within a Qualifying Group, and deductions not allowable for Corporate Tax purposes, among others.
What is the Relevant Tax Period under Corporate Tax in UAE?
Since Corporate Tax is imposed annually, it is imperative to specify the "Tax Period." This period corresponds to the Financial Year used for the preparation of financial statements, typically following the Gregorian calendar year (from January 1 to December 31). However, if a business employs a different 12-month period for financial statement preparation, that specific Financial Year is considered.
What is the UAE Corporate Tax Rate?
The applicable Corporate Tax rate is as follows:
Natural persons and juridical persons
Qualifying Free Zone Persons
|0% for Taxable Income up to and including AED 375,000.
|0% on Qualifying Income.
|9% for Taxable Income exceeding AED 375,000.
|9% on Taxable Income that is not Qualifying Income, as specified in Cabinet Decision No. 55 of 2023.
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