UAE Corporate Tax
UAE Corporate Tax has been implemented from 1st June 2023. As a UAE commercial operation, you are obliged to comply with the prevailing legislation and submit UAE Corporate Tax returns for your financial year calculated at 9% on profits above AED375,000.
Preparation is essential to optimise your tax liability. Our consultants can provide you with the necessary assistance and guidance to ensure you benefit from all available reliefs and exemptions under the Legislation.
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Smarter Corporate Tax Solutions
Corporate Tax Registration
FTA Tax Agency support to reliably register your business individually or as a Tax Group under the FTA registration procedures.
SME Financial & Tax Solutions
Complete outsource advisory and finance solution for small business to optimise financial reporting, VAT and UAE Corporate Tax.
Corporate Tax Health Check
Our comprehensive 360 Corporate Tax Health Check assesses UAE Corporate Tax aspects from structuring, exemptions, systems, processes, training to transfer pricing considerations
Transfer Pricing
Best practice guidance to define, optimise and reduce costs in your UAE Transfer Pricing model with the continuous support to maintain your transfer pricing rules.
As an FTA approved Muwafaq partner, we provide FTA Muawafaq Services. All our packages are compliant with FTA Muawafaq compliance principles.
Complete solution to manage your financial reporting to managing a start up or small business’s complete Outsourced Accounting, VAT Registration and Corporate Tax obligations.
We include FTA Tax Agency professional advisory to optimise your tax obligations and a free FTA Zoho Books or QuickBooks software license to ensure your business scales seamlessly and benefits from rich reporting insights.
FAQs
What Is Required Under The UAE Legislation?
If you are business (Free Zone or Mainland) or an individual or foreign business deriving income from commercial activity in the UAE, you are subject to corporate income tax. This requires mandatory registration (irrespective of losses or income threshold), preparation of accounts under IFRS standards and submission of annual tax returns according to the published rules.
Why Is This Required?
This is a legal requirement from July 1st 2023. You are obliged to pay tax at 9% above AED375,000 on worldwide income and profit subject to the accurate calculation of Taxable Income.
Taxable income is not the same as accounting profit and care should be taken to determine your tax liability to minimise incorrect tax calculations leading to under or overpayments.
What Is Needed To Manage Your Obligations?
Legally you must maintain a proper set of accounts and details supporting your tax calculations including supporting accounting documents. Your Taxes should meet the eligible rules and not breach any published rules. Tax filings and payments must be made on time depending on your financial period.
How Do We Help Our Clients?
The right support can make a difference to your business. We focus on making the complicated simple with an all encompassing solution. This includes an FTA certified accounting platform, accounting/tax expertise and guidance to meet all your accounting and tax needs under an affordable monthly fee.
Your obligations are clearly explained with an assessment for reliefs and benefits to optimise your tax liabilities. The Legislation provides for schemes and opportunities to correctly structure your tax model with the correct guidance. We provide clear direction to each client to effect the proper improvements.
Whether you are a start up or a large medium size enterprise, we have the experience and solutions to support your business
How Do We Optimise/Improve Your Accounting & Tax Obligations?
We take time to understand your business and how you work. The Laws can apply differently depending on your business transactions. Advice and guidance are essential to set the right course to minimise risks and tax liabilities.
Every step from setting up our service to ongoing management continually assesses and provides specific guidance for efficiency and tax optimisation. This is fully systemised and managed under our ISO 9001 & 27001 certified standards.
Whether you are a new business or have been operating for some time, we will assess how to improve your tax model to minimise risks and liabilities.
You may be eligible for reliefs and allowances if you are a small business (below AED3M in turnover), operate from a Free Zone or pay taxes in a foreign jurisdiction. The eligibility rules are specific and subject to further clarification in Free Zones.
Our services can take your business through the complexities to define an optimal plan and capitalise on these opportunities.
Why Is This A Complete Solution For Businesses?
Everything you require to implement a scalable financial and tax reporting model is included in our service packages: Best in class platform, FTA Tax Agency accounting and tax expertise and ISO quality procedures.
Systemising your accounts and reporting is the best option to set a solid foundation to run your business. Our service is designed to to grow with your business and we update you on any changes to the Legislation affecting your business.
How Do We Deliver Reliably & Effectively?
We operate to ISO 9001 & 27001 standards for quality and information security. This ensure our services are delivered to set standards and underpinned by our service delivery mobile and desktop application which provides transaprency and control to ensure every necessary step is followed and monitored.
We operate in teams and each client has an appointed person who knows your business supported by a wider team accessible for any complex requirements or support.
Your engagement is fully controlled and all documents and interactions are auditable in case of government or tax authority query. We have invested in our service delivery to simplify the complex and take the burden from your business while providing transparency and a service level assurance.
How Can This Save You Costs?
Our service is upto 60% lower than an internally managed option. As partner to 100’s of businesses, we have provided operational continuity saving disruptions from staff mobility with no need for staff salaries or visa costs. In addition, we diligently manage changes from the Legislation and minimise compliance risks that could lead to penalties.
How Can We Help Your Business Grow?
Allowing us to manage the financial and tax processes provides you time to focus on growing your business. We take care in implementing reliable financial and tax management, a best in class platform and addressing any questions. Our dedicated AM can also provide financial insights to target issues for management attention.
In addition, we have expertise across a wide range of business needs including advisory, audits, HR & Payroll, compliance, ERP systems and ISO certification. Our clients view us as a trusted partner providing a one stop solution to operating and growing their UAE business.
How Soon Can You Benefit From Our Service?
Your business can start deriving value and benefits in a few days. Our initial advice and guidance will help clear any tax and non-compliance risks. In a couple weeks, we can have you fully operational with a real time financial reporting model.
How Do We Price Our Service?
Our packages are priced for simplicity and ease of budgeting. Our scope is clear without hidden fees. We offer registration, software, guidance and management for your accounting and taxes in a simple monthly fee. We just need some information on the transactions and volumes to provide a fixed monthly fee.
QUALITY CONTROL & COLLABORATION
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.
Corporate Tax Resources
MoF Issues Corporate Tax Guide on Small Business Relief
The Guide provides further updates and specific reliefs to support start-ups and other small or micro businesses by reducing their corporate tax burden and compliance costs.
FTA Published UAE New Tax Procedures Law & Penalty Regime
The Cabinet Decision addresses a wide range of updates to the Tax Procedures affecting taxpayer obligations and processes subject to FTA enforcement.
FTA Publishes Corporate Tax Administrative Penalty Regime
This Decision specifies administrative penalties that will be imposed by the FTA for violations related to the Corporate Tax Law effective as of 1st August 2023.
Why Work With Us?
At SimplySolved, we save your time, resources, and costs. Whether you need help with Outsourced Accounting, Finance, VAT, Corporate Tax, Employee Management & Payroll, or ERP & E-Commerce Integration. we have the expertise and solutions to help.
We have worked with 100’s satisfied clients across all industries. Contact us and see how we can help your business deliver superior results and save costs.
Join our 100’s of satisfied clients across all industry segments who trust us to understand their issues, implement best practice quality services with minimal disruption and improve their performance and compliance
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Whether you have an existing Accounting, Finance, VAT, Corporate Tax, Employee Management & Payroll and 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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