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Corporate Tax in UAE: Key Insights and Compliance Strategies

Corporate Tax in UAE introduces a new era of fiscal responsibility for businesses. AMA Audit Tax Advisory breaks down the essential aspects of the new tax framework, offering practical insights into compliance, planning, and strategic adaptation for businesses operating in the region.<br><br>For more details, visit us at: https://amaaudit.com/our-services/corporate-tax/

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Corporate Tax in UAE: Key Insights and Compliance Strategies

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  1. UNDERSTANDING CORPORATE TAXATION IN THE UAE amaaudit.com

  2. Introduction AMA Audit Tax Advisory is a global firm offering expert services in auditing, tax, and consultancy across the GCC, India, Singapore, and the US. With the UAE introducing Corporate Tax in UAE from June 1, 2023, we help businesses understand and comply with this new regulation aimed at aligning with global standards and supporting economic diversification.

  3. KEY FEATURES OF THE UAE CORPORATE TAX Standard corporate tax rate: 9% profits exceeding 375,000 0% tax for profits up to AED 375,000 (to support small businesses/startups) on taxable AED 1 2 Applies to all businesses and commercial activities, except for the extraction of natural resources. Free zone businesses may benefit from a 0% tax rate subject to conditions 3 4

  4. WHO IS SUBJECT TO CORPORATE TAX? UAE-incorporated entities Foreign entities with a permanent establishment in the UAE Individuals conducting business activities under a commercial license Free zone companies (with specific conditions)

  5. Non-resident individuals not conducting business in the UAE Government entities. Government-controlled entities (if listed under Cabinet Decision) Extractive businesses (subject to Emirate-level taxation) EXEMPTIONS AND EXCLUSIONS

  6. FINANCIAL REPORTING AND COMPLIANCE Businesses must maintain proper accounting records Financial statements should be prepared in accordance with IFRS Annual tax return filing required within 9 months of the end of the financial year Penalties for non-compliance apply

  7. TRANSFER PRICING AND INTERNATIONAL ALIGNMENT Transfer pricing rules apply to related party transactions Documentation aligned with OECD guidelines Ensures compliance with Base Erosion and Profit Shifting (BEPS) standards

  8. STRATEGIC IMPLICATIONS FOR BUSINESSES Need for tax planning and compliance strategy Potential restructuring of business operations Impact on profit margins and pricing models

  9. CONTACT US 0971 25 848 786 amaaudit.com enquiry@amaaudit.com

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