Corporate Tax Consultants in UAE - Expert Guidance for you Tax Needs
Handling corporate tax requirements in Dubai requires expert guidance and a proactive approach. At Zaidi Consultants, we specialize in providing comprehensive corporate tax consultancy services, ensuring your business remains compliant with UAE tax regulations while optimizing your tax liabilities.
Our Corporate Tax Services in Dubai
1. Corporate Tax Return Filing
Filing accurate and timely corporate tax returns is crucial to avoid penalties and maintain compliance with UAE’s Federal Tax Authority (FTA). Our team handles the complete tax filing process, from data collection and review to submission, ensuring all tax obligations are met efficiently.
2. Corporate Tax Impact Assessment
Understanding the impact of corporate tax on your business operations and financial performance is essential for strategic planning. We conduct in-depth tax impact assessments to evaluate how the corporate tax framework affects your profitability, cash flow, and long-term goals, helping you develop effective tax strategies.
3. Transfer Pricing Compliance
With the introduction of transfer pricing regulations in the UAE, businesses must adhere to strict documentation and reporting requirements for related-party transactions. Our experts ensure full compliance with transfer pricing guidelines, including preparing detailed transfer pricing documentation and benchmarking studies to meet international standards.
4. Tax Planning and Advisory
We provide tailored tax planning strategies to optimize your corporate tax liabilities while staying compliant with UAE regulations. Our consultants help you identify opportunities for tax savings, structure your business operations efficiently, and align your tax strategies with your business objectives.
5. Tax Risk Management
Managing tax-related risks is critical in today’s evolving regulatory environment. Our consultants offer risk assessment and mitigation services, helping you identify potential areas of non-compliance and addressing them proactively.
Requirements for Corporate Tax Return Filing in the UAE
Corporate tax return filing in the UAE is a mandatory process for businesses subject to the corporate tax regime. The Federal Tax Authority (FTA) has outlined specific requirements to ensure accurate reporting and compliance. Below are the key requirements businesses must meet when preparing and filing their corporate tax returns.
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1. Corporate Tax Registration in Dubai
• All businesses subject to corporate tax must register with the Federal Tax Authority and obtain a Tax Registration Number (TRN).
• Businesses must ensure their tax registration is up to date and includes accurate information about their operations.
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2. Financial Records and Documentation
Businesses must maintain accurate and detailed financial records, including:
• Income statements, balance sheets, and cash flow statements.
• Supporting documents for all business transactions, including invoices, receipts, and bank statements.
• Records of taxable income, deductible expenses, exemptions, and allowances.
• Documentation for related-party transactions to ensure compliance with transfer pricing requirements.
The FTA mandates that financial records be kept for a minimum of 7 years.
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3. Audited Financial Statements
For certain businesses, particularly larger entities, audited financial statements are required to ensure the accuracy and credibility of financial data submitted in the tax return. These statements must be prepared in compliance with international accounting standards.
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4. Determination of Taxable Income
Taxable income must be calculated by adjusting the accounting profit or loss based on the provisions of UAE corporate tax law, including:
• Adding back non-deductible expenses.
• Deducting allowable expenses and losses.
• Applying any exemptions or tax incentives for qualifying entities (e.g., free zone businesses meeting specific criteria).
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5. Transfer Pricing Documentation
Businesses involved in related-party transactions must prepare and submit transfer pricing documentation, which includes:
• A Master File detailing the global operations of the business.
• A Local File focusing on transactions and operations within the UAE.
• Supporting documentation to ensure compliance with the arm’s length principle.
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6. Corporate Tax Return Submission
The corporate tax return must be submitted annually for the relevant financial period, which is typically aligned with the business’s financial year. Key submission requirements include:
• Filing the tax return using the FTA’s online portal.
• Providing all necessary schedules, forms, and supporting documents as required by the FTA.
• Ensuring all calculations are accurate and adhere to the applicable corporate tax rate.
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7. Deadlines for Filing
The corporate tax return must be filed within 9 months following the end of the relevant tax period (financial year). For example:
• If the financial year ends on December 31, the tax return must be filed by September 30 of the following year.
Failure to meet deadlines can result in penalties.
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8. Tax Payment
Businesses are required to pay their calculated corporate tax liability at the time of filing their tax return. Any late payments may result in additional penalties and interest charges.
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9. Compliance With FTA Regulations
Businesses must ensure full compliance with all FTA requirements, including:
• Correct reporting of income, expenses, and tax liabilities.
• Timely submission of returns and payment of taxes.
• Responding to FTA queries or audits promptly and accurately.
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Why Choose Us as Your Corporate Tax Consultants in Dubai?
Experienced Professionals: Our team comprises seasoned tax consultants with deep expertise in UAE tax laws and international tax frameworks.
Tailored Solutions: We understand that every business is unique, which is why we deliver customized solutions designed to meet your specific needs.
Proactive Support: We stay ahead of regulatory changes, ensuring your business remains compliant at all times.
Comprehensive Approach: From tax return filing to impact assessments, transfer pricing, and tax planning, we offer end-to-end corporate tax services under one roof.
Stay Ahead with Expert Corporate Tax Advisory
Whether you are a startup, SME, or a multinational corporation, our corporate tax consultancy services are designed to help you navigate the complexities of UAE’s corporate tax system with ease. Contact us today to learn more about how we can support your business in achieving compliance and maximizing tax efficiency. we provide end-to-end support for corporate tax return filing, ensuring your business meets all requirements efficiently and remains compliant with UAE corporate tax laws. From preparing accurate financial records to handling transfer pricing documentation and submitting returns on time, our experts are here to guide you every step of the way.
Let Zaidi Accountants be your trusted partner in corporate tax consulting and advisory services in Dubai.
