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    Corporate Tax in Dubai

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    shayan
    VAT and corporate tax are two separate forms of taxes imposed in the UAE. Companies are subject to and are responsible for paying corporate tax, which is a tax based on profits. The VAT, on the other hand, is a consumption-based tax that is paid by people who use the products and services they purchase. While value-added tax is computed by adding the value at each stage of manufacturing, corporate tax in Dubai is based on earnings.

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    Corporate Tax in Dubai

    Uploaded by

    shayan
    80 views10 pages
    VAT and corporate tax are two separate forms of taxes imposed in the UAE. Companies are subject to and are responsible for paying corporate tax, which is a tax based on profits. The VAT, on the other hand, is a consumption-based tax that is paid by people who use the products and services they purchase. While value-added tax is computed by adding the value at each stage of manufacturing, corporate tax in Dubai is based on earnings.

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    VAT and corporate tax are two separate forms of taxes imposed in the UAE. Companies are subject to and are responsible for paying corporate tax, which is a tax based on profits. The VAT, on the other hand, is a consumption-based tax that is paid by people who use the products and services they purchase. While value-added tax is computed by adding the value at each stage of manufacturing, corporate tax in Dubai is based on earnings.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    80 views10 pages

    Corporate Tax in Dubai

    Uploaded by

    shayan
    VAT and corporate tax are two separate forms of taxes imposed in the UAE. Companies are subject to and are responsible for paying corporate tax, which is a tax based on profits. The VAT, on the other hand, is a consumption-based tax that is paid by people who use the products and services they purchase. While value-added tax is computed by adding the value at each stage of manufacturing, corporate tax in Dubai is based on earnings.

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    The UAE government has announced a new federal corporate tax of 9% on business profits above AED
    375,000. If you have any queries regarding the impact of this new tax on your business, our corporate tax
    UAE team is here to assist you. We offer a range of corporate tax services, including Corporate tax
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    pricing. We can help you optimize your tax position, reduce your tax liabilities, and avoid any penalties or
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    What is the corporate tax rate in the UAE?


    The corporate tax rate in the UAE stands at 9% for taxable income exceeding AED 375,000, effective
    from financial years commencing on or after 1 June 2023. In contrast, taxable income below this
    threshold will be subject to a 0% Corporate Tax rate. It's worth noting that large multinationals companies
    falling under Pillar Two may potentially face a higher tax rate of 15%. The table below provides a concise
    summary of corporate tax rates in the UAE:
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    Who should register for Corporate Business Tax in the UAE?


    Requirement for Corporate Business Tax Registration
    The UAE Federal Tax Authority mandates that all taxable individuals must register for UAE Corporate Tax
    and obtain a Corporate Tax Registration Number. However, non-resident individuals earning state-
    sourced income without a permanent establishment or nexus in the UAE are exempt from registration.
    This exemption is allowed because they will not have a corporate tax liability in the UAE, and their home
    country holds the primary taxing authority.
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    Corporate tax for Multinational Companies
    EU member states have agreed that companies with a worldwide revenue exceeding 750 million euros
    (equivalent to $735 million or 2.70 billion UAE dirhams) will be required to pay a minimum tax of 15%,
    regardless of the potential implementation of the OECD Pillar Two system in the future. This decision is a
    demonstration of the EU's commitment to enforcing internationally accepted guidelines for equitable and
    efficient taxation of multinational corporations on a regional level.

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    Is Corporate Tax same as the VAT?


    VAT and corporate tax are two separate forms of taxes imposed in the UAE. Companies are subject to
    and are responsible for paying corporate tax, which is a tax based on profits. The VAT, on the other hand,
    is a consumption-based tax that is paid by people who use the products and services they purchase.
    While value-added tax is computed by adding the value at each stage of manufacturing, corporate tax in
    Dubai is based on earnings. Unlike with VAT, where businesses must charge VAT and return it to the
    FTA, firms are expected to file taxes and subsequently pay corporate taxes on the earnings. In
    conclusion, whereas value-added taxes are based on consumption and are imposed on consumers for
    the products and services they use, corporation taxes are assessed based on profits.

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    Our dedicated team of experts possesses in-depth knowledge of the UAE's taxation system, ensuring
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    Key Areas of Practice for Our Corporate Tax Advisors in Dubai


    Our expert tax advisors in Dubai give clients the pleasure that only really professional teams can bring by
    providing complete services performed with high quality and a focus on clients. The following are some of
    the most popular areas of tax law in which our corporate tax advisors routinely assist clients:
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    Small Business Relief in UAE Corporate Tax
    Small Business Relief offers designated businesses the benefit of exemption…

    When is a non-resident Person Required to Register for Corporate Tax in the UAE?
    The federal decree law no. 47 of 2022, also known…
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    We have a staff of highly skilled and experienced UAE Corporate tax law specialists at Farahat & Co.
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