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The introduction of corporate tax in UAE aims to sustain the country’s economy in the long term. The corporate tax rate starts from 0% to 9%. It is still relatively low compared to other regional and global economies.
Emirates Business Setup offers end-to-end support to business owners with our accounting and tax services in the UAE. Our tax experts are here to support you every step of the way, ensuring a smooth and efficient experience with accounting, auditing, corporate tax and VAT registration, and VAT filing. Trust us to handle your corporation tax obligations, allowing you to focus on what matters most – growing your business.
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We offer accounting and corporate tax services for all kinds of business setups in the UAE. The services offered by us are listed below:
Emirates Business Setup tax advisors will help to understand how corporate tax works in UAE. It will include how to get tax exemption and to get benefits from it.
Our team will review your financial records, calculate tax liability, identify potential deductions or credits, and file submissions with the FTA yearly.
Our accountants assist you in VAT registration with the Federal Tax Authority offering you advice on how it works. After the VAT registration process is completed, a Tax Registration Number (TRN) will be issued.
Our tax advisors help you with corporate tax registration with the Federal Tax Authority while managing your deadlines for all tax considerations and obligations.
Every business has an unlimited number of daily transactions. So, keeping a record of each transaction is important for the business's future success. We provide bookkeeping services to our clients on a monthly, quarterly, or yearly basis.
We offer audit services to help you save from any risks or issues that may arise. We take full responsibility to protect your business with proactive risk management. We make sure that all the records are according to the International Financial Reporting Standards.
Accounting is the process of documenting financial transactions essential to a firm. These transactions must be summarized, analyzed, and reported to oversight bodies, regulators, and tax-collecting entities. Accounting records are used by businesses to create financial reports known as accounting reports, which are equal to financial statements.
Our dedicated team will assist you in meeting tax deadlines, filing returns, making payments, and providing required documentation, ensuring compliance and avoiding penalties.
The UAE Ministry of Finance (MOF) has implemented a new tax regime started already from June 1, 2023, which applies to all businesses operating within the UAE. Indeed, the tax calculation process will vary based on the financial year reporting of businesses:
Value Added Tax that was introduced in January 2018 (at a rate of 5%). If a company’s taxable supplies and imports exceed AED 375,000 per year, it must register for VAT. Otherwise, it is optional for companies whose annual supply and imports surpass AED 187,500. When filing for VAT in Dubai, numerous paperwork must be prepared.
The UAE Ministry of Finance (MOF) has implemented a tiered taxation policy to pay corporation tax with the following rates:
Several advantages regarding outsourcing your accounting and auditing services brings into your business in Dubai. At Emirates Business Setup, we have a team of certified accountants highly experienced in keeping and maintaining all the records for all kinds of organizations and businesses. Below listed are the common benefits:
Outsourcing your accounting and tax operations is cost-effective. There is no need to hire a full-time certified accountant to do this.
You can run your business operations smoothly without keeping records on your own. It will help you stay focused on your business.
Outsourcing will help you calculate employee's wages, incentives, and deductions.
Your outsourcing team will help you in handling, calculating, and reporting Value-added tax.
It offers to keep records of reconciling and balancing bank statements.
Sales and revenue data are no longer your concern. The outsourcing team can track and post.
Dubai follows a unique tax system compared to many other countries. However, there is no personal income tax on individuals, and there are no taxes on capital gains or wealth. In UAE, however, there is a Value Added Tax (VAT) of 5%, and the corporate tax system, by the government of UAE (United Arab Emirates), was introduced in 2023.
Yes, taxes, including VAT, are an integral part of accounting. Moreover, they are recorded and reported in financial statements to ensure compliance with tax regulations.
While Dubai does not have traditional forms of taxation like income tax, it does have a Value Added Tax (VAT) and corporate tax system. However, VAT is 5%, and corporate tax ranges from 0 to 9%.
The standard Value Added Tax (VAT) rate in Dubai, as well as across the UAE, is 5%. VAT applies to most goods and services
As of June 1, 2023, the UAE implemented a corporate tax. Significantly, this tax applies to the first financial year beginning on or after that date. Additionally, businesses will be subject to a corporate tax rate of 9% on taxable profits exceeding AED 375,000.
However, keep in mind that tax regulations may evolve, so it’s advisable to consult with a local tax advisor or authority for the most current information.
Before 1st June 2023, UAE was corporate tax-free. But now it is subjected to a 9% corporate tax rate but only applicable to businesses with a net yearly profit above AED 375,000.
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