Are you a Qualified Free Zone Person?

Is your Business eligible for a

Small Business Relief?

How does

Tax Grouping

impact you?

Know about your

Corporate Tax Eligibility

and more with

CORPORATE TAX SERVICES

Corporate Tax is a complex area of tax that businesses must navigate carefully. There's a lot going on underneath the iceberg!

So, we help you sail smoothly through Corporate Tax obligations by offering the following:

Corporate Tax Impact Assessment

Corporate Tax Registration

Corporate Tax Return Preparation & Filing

IMPORTANT FACTS

The corporate tax is a direct tax on taxable income that is payable annually. It’s 0% if the annual net profit is up to AED 375,000 or 9% if annual net profit is above AED 375,000.

ALREADY REGISTERED FOR VAT +

Do businesses, that are already registered for VAT, need to register for corporate tax separately?

Businesses registered for VAT also need to register for corporate tax.

CORPORATE APPLICATION ON INDIVIDUAL +

Do individuals earning only salary and investment income need to register?

Individuals earning income by way of salary and investment do not need to register. However, if they are conducting business activities and have annual sales of more than AED 1 million, they would need to register. This also applies to Non-resident individuals as well if they are earning only investment income from the country.

FINANCIAL AUDIT REQUIREMENT +

What is the revenue threshold to be kept in mind when deciding if businesses need to get their financial statements audited?

Companies having revenue exceeding AED 50 million need to get their financial statements audited.

Does a Qualifying free zone person need to get their financial statements audited?

Qualifying free zone persons would need to get their financial statements audited irrespective of the revenue or profits being earned by them.

DEDUCTIBLE EXPENSES +

Can personal expenses be allowed to be deducted for calculating income?

Expenses incurred only for business purposes will be allowed to be deducted for calculating income. Examples, operating expenses, salaries, rent etc. Entertainment expenses will be deductible only up to 50% of expenses incurred (100% deductible if incurred for staff). Fines and penalties are not deductible.

HIGHER SALARIES FOR OWNERS +

Can you pay yourself a higher salary and reduce your income?

The salary paid needs to be the same as you would have paid if you hired an outsider for that role i.e. it should conform to market standards.

CORPORATE TAX RELIEF +

You can benefit from Small Business or Individual Relief or Tax Grouping.