Corporate Tax Consultants in Dubai

On 9th December 2022 the UAE published the federal decree law no 47 of 2022 on taxation of corporations or business (“CT law”). This is in line with the global minimum tax initiative under “Pillar Two” of the OECD Base Erosion and Profit Shifting (BEPS) project, to which UAE is a signatory. The law levies the flat corporate tax of 9% on the business (0% in few cases), which covers both corporates and individuals in few specified cases, where he /she engaged in business. Further, both resident and non-resident in few specified cases, are considered as taxable person under the CT law. Corporate tax is levied on the profits as per books of account after making specified adjustments.The CT Law also has Specific Anti Abuse Provisions (SAAR) like transfer pricing, interest deduction capping rules, limitation of deduction for entertainment expenses, etc and General Anti Abuse Provisions (GAAR).In order to mitigate the penalties and comply with the CT Law, it’s essential that the business model be looked into and identify the areas in which the tax outflow can be optimised, as the Corporate tax regime kicks in from the Financial Years commencing after 1st June 2023. At Suntech, we understand the impact of this change and offer top-notch end to end corporate tax services to handhold you right from planning for first reporting period till filing of your first corporate tax Return and assessment.

Corporate Tax Rate in UAE

Unleashing potential through collaboration

The rates for Corporate Income Tax (“CIT”) are as follows:

Corporate Income Tax for Foreign Individuals & Entities in UAE

Foreign individuals and entities conducting business in the U.A.E are subject to corporate tax in scenarios where they have a Permanent Establishment, earned income having source in U.A.E and .has business nexus in U.A.E However, income derived from dividends, capital gains, interest, royalties, and other investment returns by foreign investors will not be subject to corporate tax in the U.A.E.

Transfer pricing

Transfer pricing refers to the pricing of goods, services, or intangible assets transferred between related parties, such as different subsidiaries of the same multinational company located in different countries. The aim is to ensure that these intercompany transactions are conducted at arm's length, meaning the prices are set as if the parties were unrelated and operating independently. This is essential to prevent artificial shifting of profits between jurisdictions and to maintain fairness in taxation and trade.

As a business that assists other companies in complying with transfer pricing rules and documentation requirements, our expert team plays a critical role in helping these businesses navigate the complex landscape of international tax regulations and guidelines set by organizations like the Organization for Economic Cooperation and Development (OECD).

Business Tax

Our services include tax planning, consequence evaluation, Base Erosion & Profit-Sharing (BEPS) strategies, and compliance support for individual and family offices. Collaborating closely with businesses, we design personalized tax strategies aligned with their specific needs and objectives. Our expertise helps businesses anticipate tax implications during crucial choices like mergers and acquisitions, ensuring confident navigation through transitions. Robust BEPS strategies protect profits and reputations on an international level. Additionally, we manage personal tax obligations for individual and family offices, freeing them to focus on financial goals.

At Suntech Auditors & Consultants, our Business Tax services meet diverse tax challenges for businesses across jurisdictions with a comprehensive and holistic approach. As dedicated advisors, we strive to alleviate tax burdens and guide businesses to thrive in today's challenging tax landscape.

Tax Management Consulting

Our Tax Management Consulting services are designed to empower businesses by alleviating tax burdens, ensuring seamless compliance with new tax laws, and optimizing tax operations. Our team of experts serves as strategic advisors, representing entities before tax authorities and providing invaluable support in global taxation and transfer pricing matters.

With a deep understanding of the evolving tax landscape, we guide businesses through complex tax scenarios, offering comprehensive solutions to meet their unique needs. Our consulting services cover a wide array of areas, including tax planning, risk assessment, and compliance management, tailored to maximize tax efficiencies while adhering to regulatory requirements.

Additionally, we assist businesses in navigating corporate tax transition management, facilitating smooth and efficient transitions during periods of change or restructuring. As dedicated partners, we are committed to streamlining tax operations, minimizing potential risks, and helping businesses thrive in today's dynamic and ever-changing tax landscape.

Business Process Solutions

At Suntech Auditors & Consultants, our Business Process Solutions harness the power of technology to drive efficiency and productivity for businesses. Leveraging cutting-edge tools and methodologies, we optimize various aspects of business operations to streamline workflows and enhance performance.Our team specializes in automating accounting systems, reducing manual tasks, and ensuring accurate financial reporting. We implement business intelligence and data analytics to provide valuable insights that aid in informed decision-making and strategic planning. By identifying bottlenecks and inefficiencies, we help businesses achieve higher levels of productivity and cost-effectiveness.With a focus on improving overall efficiency, our Business Process Solutions aim to modernize and transform businesses, allowing them to stay competitive and agile in today's fast-paced market. By embracing innovative technologies, we empower our clients with the means to thrive and succeed in an ever-evolving business landscape.