UAE Corporate Tax Health Check
The introduction of UAE Corporate Tax introduces additional requirements to your business to manage and report your company’s UAE Corporate Tax obligations from 30th June 2023. Preparation will be essential to optimise your tax obligations and maximise reliefs available under the Legislation.
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If you require best practice guidance to optimise and reduce costs, we provide a comprehensive 360 Corporate Tax Health Check. Our service is designed to assess UAE Corporate Tax impacts on your company structure, accounting model, people, processes, reporting processes, and your organisation’s understanding of the Legislation.
Our scope is complete and includes opportunities to define the most effective UAE Corporate Tax rate, structuring benefits, Free Zone exemptions, Transfer Pricing model, reliefs, compliance, and improvements in reporting. We believe this approach provides a structured model to prepare for the introduction of UAE Corporate Tax and manage the cost of operations.
As a registered FTA Tax Agency with a deep understanding of the Legislation, legal structuring, and expertise in supporting tax compliance for clients across multiple industries, we offer a full solution to your UAE Corporate Tax requirements.
We support 100’s clients with our expertise, best practice ISO 9001, 27001 & 42001 quality processes, and systems understanding. With our insight and experience, we can provide you the guidance to ensure your business is operating with the improved cost of compliance and optimise your Tax obligations.
*Initial Consultation is FREE
OUR DIFFERENCE
What Sets Our Service Apart
Experienced Advisors
Legislation Understanding
Optimise Obligations
Implementation Support
OUR EXECUTION
How We Deliver
Corporate Tax Assessment
Our assessment seeks to address all key aspects (from structuring to reporting) to ensure your business is fully prepared
GAP Analysis
We identify opportunities and risks to ensure the optimal Corporate Tax model is defined
Implementation
An overall plan is established to ensure your business is fully prepared. We can also assist you to effect necessary changes
Quality Controlled Delivery
Our service delivery is controlled through our mobile app and portal. We ensure you have access to a team to collaborate and consistently execute your requirements.
FAQs
How will a health check help your business?
Assessing and planning will ensure your business is prepared to discharge its obligations and benefit from the various reliefs and exemptions to optimise your tax liability.
There are a number of specific areas that require attention prior to the first Corporate Tax fiscal period, these including your business structure and how it can benefit from Tax Group & reliefs, Free Zone 0% Corporate Tax rate, and the nature of your business transactions that may imply transfer pricing requirements.
In addition, you ideally require changes to systems and processes to improve systemised records and accounting granularity to correctly address expense limitations and related/connected party adjustments. Your personnel will require training to manage your Corporate Tax model and ensure they can evolve your tax model as your business changes.
What does it involve?
Subject to your business and transactional structure, our consultants prepare a plan to ensure the necessary domains are assessed to provide reliable and pragmatic advice.
We provide a documented baseline for confirmation followed by a gap/risk assessment and recommendation/implementation plan. If necessary we can support the implementation and also provide on going transfer pricing support.
How much of your time and resources are needed?
Your finance and tax team is required to provision the necessary information and clarifications on a part time basis.
How long will it take?
The health check process is dependent on the complexity of your business and transactions. However, we expect the project to last between 2-4 weeks.
You are a small business, is this necessary?
If you intend to operate your own Corporate Tax model, it is advisable to seek professional advice. As an alternative, we can provide complete outsourcing for your CT obligations and provide the necessary initial and continuous support to your business.
Corporate Tax Resources
UAE Free Zones: Understanding Tax-Free Exemption Rules and Compliance
Corporate tax-free incentives are important, Free Zone rules oblige businesses to adhere to specific compliance requirements to maintain their status.
UAE Corporate Tax – Real Estate Obligations
Our experts possess in-depth knowledge of the UAE tax regulations and can guide you through the intricacies of the UAE Corporate Tax Law.
UAE Corporate Tax – Immediate Actions & Guide For Businesses
The introduction of the UAE corporate tax guide requires your businesses to conduct an assessment of the impact on your legal and financial structure.
TESTIMONIALS
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Simply Solved is the partner you need to get your tax registration done and get the administrative tasks of accounting done in a timely and professional manner. Their dedicated account managers make the whole effort easy and painless.
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Whether you have an existing Accounting, Finance, VAT, Corporate Tax, Employee Management & Payroll, & ERP & E-Commerce Integration function operating its own system & process, or a small or medium company needing complete outsourcing services, we have the flexibility to serve your business.
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