Corporate Tax in the UAE

The introduction of Corporate Tax in the UAE marked a significant shift in the country’s financial landscape. While the core structure with a 9% tax rate and a 0% rate for profits under AED 375,000 remains unchanged, staying updated on recent developments and best practices is crucial for businesses.

The most recent update is from the Federal Tax Authority (FTA) in March 2024. They decided on specific deadlines for businesses to register for Corporate Tax. This is important to avoid any penalties for non-compliance.

Effective from 1 March 2024, the new FTA Decision defines timeframes for applying to register for Corporate Tax that apply to juridical persons and natural persons, that are either Resident Persons or Non-Resident Persons.

The Decision indicates that a juridical person that is a Resident Person incorporated, established, or otherwise recognized before 1 March 2024 must apply to register for Corporate Tax within the following timeframes:

(https://tax.gov.ae/en/media.centre/news/federal.tax.authority.issues.new.decision.o

Navigating the complexities of Corporate Tax can be challenging. Partnering with a tax consultancy firm like ICB Tax Consultancy can provide the expertise and guidance you need.

Our team of experienced professionals can help with:

Registration and Compliance: We can ensure your business is registered correctly and meets all filing deadlines.

Tax Planning and Optimization: We work with you to develop a tax-efficient strategy that maximizes your profits.

Transfer Pricing Guidance: We guide complying with transfer pricing regulations to avoid potential issues.

Audit Representation: If your business is selected for an audit, we can represent you and ensure your rights are protected.

Contact ICB Tax Consultancy today for a complimentary consultation. Let us help you navigate the complexities of Corporate Tax and achieve long-term financial success in the UAE.