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With the introduction of corporate tax in the UAE, businesses must ensure accurate accounting and compliance with tax regulations. This includes managing intercompany transactions, provisioning for impairments, proper revenue recognition, and adhering to transfer pricing rules. Accurate financial documentation and tax filings are essential to avoid errors and audits.

This guide covers the essentials of UAE Corporate Tax (CT) for businesses, including registration and deregistration requirements, necessary documentation, filing deadlines, and important considerations for Qualifying Free Zone Persons (QFZPs). Understand the tax obligations to ensure compliance and take advantage of available relief options.

The UAE has implemented Corporate Tax and Value Added Tax (VAT) to diversify its revenue sources and maintain quality public services. Corporate Tax, introduced in June 2023, applies a 9% rate on taxable income exceeding AED 375,000, with specific exemptions and considerations. VAT, introduced in 2018, imposes a 5% rate on goods and services at each production stage. Understanding these taxes is crucial for businesses to ensure compliance and avoid penalties. ALM Tax Consultants provide expert assistance for Corporate Tax and VAT registration, filing, and compliance.

One of the most important choices you will make is which firm to use for your personal or business needs. In order to optimize your tax situation, ensure compliance with tax laws, develop your strategy, and offer insights into your health, experts for the same are essential. However, it might be difficult to comprehend the main elements that affect the choosing process when there are so many options to pick from.

Running a small business in Dubai can be incredibly rewarding, but it comes with its own unique challenges. One of the most critical aspects of managing a small business is maintaining accurate financial records and timely accounting and bookkeeping which are the backbone of your business’s financial health.

In recent years, the UAE has taken significant steps to align with international standards of economic transparency and tax governance. A key component of this effort is the implementation of the Economic Substance Regulations (ESR).

Taxes are a fundamental part of any economy, enabling governments to fund essential public services and infrastructure. For businesses and individuals alike, understanding the various types of taxes is crucial for effective financial planning and compliance.

The introduction of Value Added Tax (VAT) in the UAE in 2018 marked a significant change in the country’s taxation landscape. For businesses and property owners, understanding the implications of VAT on commercial property transactions is essential for compliance