Newsletter Ver .1

 

 

Dear valued clients,

We hope this newsletter finds you well. As experts in UAE corporate tax, we wanted to take this opportunity to provide you with more information on the subject.

The introduction of the UAE corporate tax law in 2018 marked a significant shift in the country’s fiscal policy. While the standard corporate tax rate is currently set at 5%, certain industries such as oil and gas, utilities, and banking are subject to a higher tax rate of 55%. Companies are taxed on their profits, which are calculated based on their annual financial statements.

It is important to note that while some companies are exempt from paying corporate tax, such as those operating in certain free zones and those that are wholly owned by UAE nationals, many others are not. Failure to comply with the UAE corporate tax law can result in severe penalties, including fines and suspension of business licenses.

At our tax consultancy firm, we understand that navigating the complex world of corporate tax can be challenging. That’s why we are here to help. Our team of experienced tax professionals can provide you with personalized and comprehensive tax solutions to meet the unique needs of your business.

Our services include tax planning and structuring to minimize your tax liabilities and maximize your profits, assistance with tax registration, filing, and payment, representation in dealings with the Federal Tax Authority, advice on tax incentives and exemptions available to your business, and ongoing support and guidance to ensure ongoing compliance with changing tax laws and regulations.

In conclusion, the introduction of the UAE corporate tax law has led to a more mature and diversified business environment in the country. It is essential for businesses to comply with these regulations to avoid penalties and ensure ongoing success. If you need help navigating the complex world of corporate tax, please don’t hesitate to contact us for a consultation.

Best Regards,