Corporate Tax Advisory & Compliance in the UAE
Corporate Tax Regime in the UAE
The introduction of the Corporate Tax (CT) regime under Federal Decree-Law No. 47 of 2022 significantly impacted the UAE’s tax environment. Businesses must now comply with new rules, including registration, annual return filing, transfer pricing, and more.
Navigating the complex CT legislation may be a challenging call. The noncompliance and the violation of the tax legislation could lead to potential fines and penalties.
Compliance requirements
All taxable entities in the UAE will be required to:
- Register for Corporate Tax purposes.
- Maintain accounting records.
- Keep records of relevant primary and supporting documentation for at least seven years.
- File the CT returns and pay the self-assessed corporate tax to the state budget within nine months of the end of the financial year.
- Consider special regimes and reliefs, such as Free Zone Relief, Small Business Relief, intra-group exemptions, and more.
Comprehensive Services We Offer
Young Global provides comprehensive, reliable, and compliance-focused services to support your business and drive sustainable growth.
Corporate Tax Registration
Obtain your Corporate Tax registration number within the established timeline of 3 months of the incorporation date, to avoid the administrative penalties for late registration.
Corporate Tax Deregistration
Increased complexities in business environments require robust understanding of its financial systems to ensure profitability and efficiency.
Corporate Tax Impact Assessment
Identify the corporate tax implications applicable to your company. Apart from the identification of the tax implications, we will help with the potential tax optimization measures and provide our recommendations to optimize your current business structure from a tax perspective.
Corporate Tax Return Filing
We can help with the preparation and submission of your corporate tax returns, ensuring the correctness and completeness of the submitted data. We will ensure that you understand all the elections and disclosures made in the CT return, easing management decisions on the relevant aspects.
Corporate Tax Health Check
Identify the potential tax risks and consider the mitigation actions to minimize the possible challenges in case of a tax audit. Ensure compliance with the regulations and prepare your defence file ahead of the tax audit.
Corporate Tax Advisory Services
From complex tax queries to structuring recommendations, Young Global can provide tailored advisory support services aligning with your tax optimization, tax administration, or succession planning goals.
Corporate Tax Audit Support
Facing an FTA audit? We stand by your side with documentation, strategy, and expert representation to protect your interests.
UAE Corporate Tax Training & Support
Want to make sure that your team is aware of the latest developments in the CT legislation? Our tailored training sessions will get your team up to date with the Corporate Tax legislation and share our practical experience in meeting your compliance requirements, dealing with the requests from the Federal Tax Authority and/or other governmental bodies.
How Corporate Tax Advisory and Compliance Support Services Can Help Your Business?
The presence of a reliable tax advisor assisting with navigation of the complex CT legislation could play an essential role in ensuring compliance with the UAE regulations and minimising the potential tax risks that could lead to administrative fines and penalties.
With the proper advisory support, the taxpayers can maximise the available tax benefits and reliefs envisaged by the tax legislation, optimising the taxation burden, which in the long run would lead to stable growth of the business.
FAQs to Guide Your Business Decisions
Concise insights on our core services
Legal entities incorporated in the UAE | Legal entities effectively managed and controlled in the UAE | Legal entities that have a permanent establishment in the UAE | Individuals, only if they are engaged in a business or business activity in the UAE
0% on taxable income not exceeding AED 375,000 | 9% on taxable income exceeding AED 375,000 | Do Free Zone companies automatically qualify for the 0% rate? | No. They must meet all the conditions of the Qualifying Free Zone Persons as provided by the Corporate Tax legislation
Within nine months after the end of the financial year (e.g., by 30 September for entities following the Gregorian calendar financial year).
No. They must meet all the conditions of the Qualifying Free Zone Persons as provided by the Corporate Tax legislation.
Taxpayers are required to maintain all records and documents for a period of seven years following the end of the Tax Period to which they relate.
FTA can impose administrative fines as per Cabinet Decision No. 75 of 2023. Persistent non-compliance with the tax legislation can lead to audits, loss of benefits, and reputational impact.
