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Direct Taxation Services

With an aim to prevent harmful tax practice and to align with the international standards of tax transparency, the United Arab Emirates (UAE) Ministry of Finance (‘MoF’) has introduced Federal corporate tax in the UAE. Corporate tax law is a form of direct tax levied on the taxable income of the entity, which is arrived at by making various tax adjustments to the net income or profit of corporations and other businesses of the entity.

The UAE Corporate Tax (‘CT’) law will be effective for the financial years commencing on or after 01 June 2023 with a headline rate of 9%

Direct Taxation services in UAE | UAE Corporate Tax

UAE CORPORATE TAX: Direct taxation services

Corporate TAX Filling

Every Taxable Person is be required to register electronically for UAE CT with the Authority within a prescribed timeline and obtain a Tax Registration Number. The registration would need to be undertaken even if the Taxable Person has already been registered for Value Added Tax purposes.

In order to keep the administrative burden on taxpayers to a minimum, the CT Law requires a Taxable Person to file only one tax return for each tax period.

MASAR is a well-known tax consultant in UAE, with a team of experts that are well-versed in offering corporate tax services in the UAE.

Corporate TAX Training

The Corporate Tax training  by MASAR is designed to introduce professionals to the new UAE federal income taxation of businesses and their stakeholders. MASAR introduces Corporate Tax Training in UAE to upskill and prepare fellow accountants, auditors, tax professionals, and tax agents in UAE on the new UAE Corporate tax regime.

The objective of the training is to equip participants with the knowledge and skills needed to provide effective tax planning, compliance, and advisory services to their clients. The corporate tax training from MASAR is designed to help participants understand the intricacies of the tax system in the UAE and to provide practical guidance on how to minimize tax liabilities and maximize tax savings for their clients.

Corporate TAX Advisory

MASAR Corporate tax Advisory services help companies to navigate this new complex tax system and ensure compliance with tax regulations. MASAR proves to be a beneficial choice while establishing your business on a global scale.

Some of the benefits of using corporate tax Advisory services in the UAE include:

  • Accurate calculation and filing of taxes.
  • Minimization of tax liability through tax planning
  • Compliance with tax laws and regulations
  • Avoidance of penalties for non-compliance
  • Access to professional advice on tax-related matters
  • Proven ways to reduce your tax burden.
  • Find out how to get effective tax planning done to have a lesser impact on cash flows.
  • Latest updates about taxation policies

Corporate TAX Compliance

It can be challenging and time-consuming to operate a business and keep up with the pace of evolving tax compliance that influences corporate operations. As a result, acquiring tax guidance from MASAR professionals in the industry may be advantageous.

Corporate TAX Implementation

For businesses operating in the UAE, the adoption of corporate tax would be a game-changer. Different firms may wish to review their company forms once the new tax system comes into force in order to take advantage of the possible tax savings. MASAR, as one of the best tax consultants in UAE with an experienced professional team, would be delighted to assist clients who are considering implementing a corporate tax structure, as well as explore any opportunities that may arise as a result.

TRANSFER PRICING services in UAE

Country By Country Reporting

The CbCR regulations are applicable to entities classified as tax residents in the UAE. These entities must be part of a multinational group of enterprises (MNE) that has consolidated revenues equal to or exceeding AED 3.15 billion (approximately EUR 764 million / USD 858 million) in the financial year preceding the relevant ‘financial reporting year. To ensure compliance with applicable regulations and to minimize potential risks, it is recommended to consult with tax professionals or specialists in transfer pricing. 

Transfer Pricing Advisory

MASAR can help companies develop transfer pricing strategies that are aligned with their overall business objectives while complying with the UAE transfer pricing regulations. This includes analyzing the company’s existing transfer pricing practices, identifying potential risks and opportunities, and providing recommendations for optimizing the company’s transfer pricing arrangements.

Transfer Pricing Compliance (Local File & Master File)

MASAR can assist companies in preparing and filing transfer pricing disclosures and related compliance forms with the UAE tax authorities. This includes preparing local and master files, responding to inquiries from tax authorities, and assisting with any transfer pricing audits or investigations.

INTERNATIONAL TAX services in UAE

TAX Domicile - TAX Residency Certificate

At present, commercial activities in the UAE are boosting international trade links, but it also gets complicated once it gets trapped in the tax regime. As a result, businesses are now tackling the problem of double taxation. To resolve this concern, a tax residency certificate in UAE comes into the equation.

MASAR can help you obtain your Tax Residency Certificate (TRC) in the UAE in a timely manner. The strain of taxation can be avoided with the tax residence certificate in Dubai and the added benefit of a double taxation treaty to follow. A Tax Residency Certificate is available to any company operating on the mainland or in a free zone which has been operating in the country for at least a year.

Ultimate Beneficial Owner

Cabinet Resolution No. (58) of 2020 regulating Beneficial Owner Procedures (the “Resolution”) came into effect on 28 August 2020 and replaced Cabinet Resolution No. 34 of 2020 issued earlier this year. The Resolution introduces new requirements for entities to disclose its beneficial owners. The main purpose is to enhance transparency of entities registered in the UAE, as well as  to develop effective and sustainable executive and regulatory mechanisms and procedures in respect of beneficial owner data.

MASAR consultants can assist you with

  • Consultancy related to UBO declaration
  • Maintenance of UBO register
  • UBO record maintenance