The UAE Corporate Tax is an essential part of conducting business in the UAE. Primarily, the UAE is a growing hub for businesses, and there is an increasing demand for corporate advisory services such as corporate tax advisory. With a tax system that is constantly evolving, companies need expert advice to ensure they are compliant with the latest laws and regulations.
Our seasoned lawyers and accountants at Endevio can help businesses navigate the UAE tax system and ensure they are up-to-date with the latest changes. Specifically, we provide expert advice on various tax-related concerns, including tax planning, structuring, compliance, and more.
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UAE Corporate Tax in 2023
The UAE recently announced that a new corporation tax will be levied starting with the fiscal year beginning 1 June 2023. Therefore, UAE-based businesses must pay the statutory corporate tax rate of 9% for taxable income exceeding 375,000 UAE dirhams ($102,000).
UAE Corporate Tax Services
Endevio's UAE corporate tax advisory services can help you understand and comply with your corporate tax obligations. In addition, we can help you minimise UAE corporate tax liabilities through effective structuring and planning.
Advisory Services
Firstly, Endevio will guide you through corporate tax implications of transactions and restructurings, aspects of due diligence on your taxes, and corporate tax treatment of expenses. We will also assist you in preparing and filing your corporate tax returns and representation in audits or investigations.
Impact Assessment Services
Additionally, the introduction of a corporate tax is a significant change for businesses in the UAE. For most businesses, the impact of the corporate tax will be relatively small. However, for companies that are already operating on slim margins, this new tax could put them at risk of failing. That is why it is important to start planning now for how your business will be affected by the introduction of the new corporate tax. We will assist you in determining how your business will be impacted and what steps you need to take to ensure compliance.
Audit Services
Moreover, audit services are essential in ensuring that businesses operating in the UAE comply with regulations. Consequently, our experienced accountants will guide you through identifying cost savings and operational improvement opportunities.
Compliance Services
Lastly, it is essential to be aware of various tax compliance requirements. Notably, failure to comply with such requirements may result in penalties or fines. At Endevio, we will ensure that your tax compliance in the UAE will be handled efficiently and appropriately to minimise any risks or liabilities.
In conclusion, for entrepreneurs in the United Arab Emirates, knowing how to navigate the corporate tax landscape is essential for success. At Endevio, we proudly offer our clients comprehensive corporate tax services in the UAE. Our experts stay up-to-date on the latest changes in UAE tax law so that we can help your business remain compliant and minimise your tax liability.
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