Corporate Tax In UAE: Expert Services By My Taxman
What Is Corporate Tax?
Corporate tax is a type of direct tax charged on the profit of organisations operating in a certain territory. It also is acknowledged as an important revenue mobilisation tool for the government to finance the delivery of public goods and the expansion of infrastructure. Corporate tax is quite new in UAE, due to the long-term vision of the country’s adherence to the international taxation system.
Features
Corporate Tax In UAE
The corporate tax in the UAE applies to all forms of businesses including those companies that are branches of international companies. Some exceptions are allowed for free zone companies and government related companies. Gross income relates to earnings obtained from any economic activity, be it in a trading, profession, business or vocation, less allowable deductions.
Tax Rates
The corporation tax rate in the UAE is relatively low; thus, it is a favorable region for investors.
Benefits
Why Corporate Tax Is Important
This is not just an exercise in compliance; it is central to the UAE’s vision for future economic development. As much as they are profit making entities, businesses supplement public revenues hence supporting public responsibilities such as service delivery and development of infrastructures in support of socially important causes. However, the corporation tax system promotes accountability and corporate governance within the business environment and thus improves the business image of the nation on the global market.
Advantages
Corporate Tax In Dubai
Dubai is the main center of the UAE’s corporate tax system. Companies are bound by corporation tax laws that are part of the strong economic framework of the emirate. It is mandatory for the companies to have reasonable economic substance in the UAE to be eligible for certain exclusions or advantages.
Free Zones
- Companies have been starting their operations in free zones in Dubai so as to enjoy tax relief depending on various circumstances.
My Tax Man
Why Choose Us?
We are specialized in managing corporation tax affairs of organizations operating in Dubai, have knowledge of the specific features of free zone taxation, and have a good working relationship with local officials.
Assistance
Partnering With My Taxman
We are a group of experienced tax consultants who understand corporation tax in the UAE well. To ensure that we offer the best advice, we always ensure that we are up to date with the current laws. Our services are personalized to meet your needs, hence achieving the best results.
It is always difficult to deal with the intricacies of corporation tax laws. When it comes to My Taxman, you will be confident that your business will not incur fines and that operations will not be interrupted. Our corporation tax planning enables you to pay less tax while at the same time being compliant with the law.
