Corporate Tax solution
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Introduction
Welcome to IRHA Businessmen Services, your trusted partner in navigating the intricate landscape of corporate taxation. As businesses expand globally and regulatory frameworks evolve, strategic tax planning and compliance have become more critical than ever. At IRHA Businessmen Services, we specialize in delivering bespoke corporate tax solutions designed to optimize your tax position while ensuring seamless compliance with local and international regulation
Why Choose IRHA Businessmen Services?
Transform your tax challenges into opportunities for growth and efficiency with IRHA Businessmen Services. Contact us today to discuss how we can support your corporate tax needs.
Our Services Include
Tax Compliance
Stay ahead of regulatory changes with our expert assistance in preparing and filing accurate tax returns, ensuring your business remains compliant at all times.
Transfer Pricing
Navigate the complexities of transfer pricing regulations with confidence, ensuring that your intercompany transactions are structured to meet regulatory requirements while optimizing tax efficiency.
Tax Planning and Advisory
We offer proactive tax planning strategies to help you manage risks, maximize deductions, and ensure compliance with local and international tax regulations.
International
Taxation
Expand your global footprint with our international tax services, including advice on cross-border transactions, foreign tax credits, and tax treaties.
Tax Audit
Support
In the event of a tax audit, our team provides robust support and representation to safeguard your interests and ensure a fair resolution.
Corporate Tax Solutions in UAE
With the introduction of corporate tax in the UAE, businesses need to ensure they are fully compliant with the new regulations. Here are comprehensive corporate tax solutions offered in Dubai:
Corporate Tax Advisory Services
Tax Planning
Developing strategies to minimize tax liabilities while staying compliant.
Tax Structuring
Advising on optimal tax structures for businesses.
Tax Implications
Analyzing the tax implications of various business transactions and investments.
Corporate Tax Compliance
Tax Registration
Assisting with corporate tax registration with the Federal Tax Authority (FTA).
Tax Returns Preparation
Preparing and filing accurate corporate tax returns..
Documentation
Ensuring all necessary documentation is maintained and submitted as required.
Tax Audit Support
Pre-Audit Reviews
Conducting internal reviews to ensure readiness for tax audits.
Audit Representation
Representing businesses during tax audits by the authorities.
Post-Audit Assistance
Assisting with any follow-up actions required after a tax audit.
Transfer Pricing Services
Policy Development
Developing transfer pricing policies that comply with UAE regulations.
Documentation
Preparing detailed transfer pricing documentation.
Dispute Resolution
Assisting with the resolution of any transfer pricing disputes.
Benefits of Professional Corporate Tax Solutions
- Regulatory Compliance Ensuring full compliance with UAE corporate tax laws to avoid penalties.
- Tax Efficiency Optimizing tax liabilities through effective planning and structuring.
- Risk Management Mitigating risks associated with tax audits and disputes.
- Cost Savings Reducing administrative burdens and costs associated with tax compliance.
- Expert Guidance Accessing expert advice and insights to navigate complex tax regulations.
How Corporate Tax Works in the UAE
The implementation of corporate tax in the UAE involves several steps, from determining taxable income to filing returns and ensuring compliance. Here's a detailed breakdown of the process
Understanding the Tax Law
Businesses need to familiarize themselves with the UAE corporate tax law and regulations.
The Federal Tax Authority (FTA) provides guidelines and regulations for compliance.
Registration for Corporate Tax
Mandatory Registration
Businesses must register for corporate tax with the FTA.
Registration Process
Typically involves providing company details and obtaining a Tax Registration Number (TRN).
Determining Taxable Income
Accounting Standards
Taxable income is based on the net profit or loss reported in the financial statements, prepared in accordance with internationally accepted accounting standards.
Adjustments
Adjustments are made for exempt income and non-deductible expenses.
Calculating Taxable Income
0% Rate
Applied to taxable income up to AED 375,000.
9% Rate
Applied to taxable income exceeding AED 375,000.
Special Rates
May apply to multinational enterprises under OECD BEPS rules.
Filing Tax Returns
Annual Returns
Businesses must file annual corporate tax returns electronically with the FTA.
Deadlines
Returns typically need to be filed within a specified period after the end of the financial year.
Supporting Documents
Businesses must submit supporting documents, including financial statements and any required schedules.
Frequently Asked and Bookkeeping
The corporate tax rate in the UAE is 0% on taxable income up to AED 375,000 and 9% on taxable income exceeding AED 375,000. Different rates may apply to multinational enterprises under specific conditions.
All businesses operating in the UAE, including free zone entities, must register for corporate tax with the Federal Tax Authority (FTA), except for those specifically exempted such as government entities and certain non-extractive natural resource businesses.
Tax losses can be carried forward and used to offset taxable income in future periods, subject to certain conditions and limitations. This helps businesses manage their tax liabilities over time.
Businesses must file their annual corporate tax returns electronically with the FTA within a specified period after the end of their financial year. Specific deadlines will be provided by the FTA, and it is crucial to adhere to these to avoid penalties.
Yes, exemptions include government entities, wholly government-owned subsidiaries, extractive businesses (with conditions), certain non-extractive natural resource businesses, charities and public benefit organizations (subject to approval), and qualifying public and regulated private pensions and social security funds.
Businesses need to maintain accurate financial statements, transfer pricing documentation for related-party transactions, and other supporting documents. These records should be kept for a specified period and may be subject to audit by the FTA.
