Corporate Tax in UAE

What is Corporate Tax in UAE

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For companies in the UAE that use January to December as their accounting year, the new corporate tax (CT) law will start affecting them from January 2024. This makes the year 2023 important because it comes just before the CT law applies to them.

The financial information and results of any company’s business in 2023 will be crucial and serve as a basis for comparison in 2024, which is when the CT law takes full effect. Even without this, the rules state that the closing balance sheet of 2023 will become the starting point for corporate tax purposes in the first tax period.

It’s really important to make sure that the financial results of 2023 give a true and fair picture of the business’s financial situation and profitability. The law also says that the starting balance sheet must follow the arm’s length principle. This means that transactions with related parties should have prices similar to those in the regular market conditions with an unrelated business in normal situations.

For any business, especially those that are big and complex, understanding how the CT law will affect them might take a lot of time and effort. That’s why it’s smart to assess and figure out the implications in 2023 itself. This way, businesses can smoothly transition into their first tax period without any hiccups.

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Our Approach

Companies with in-house tax departments often struggle to keep up with ever-changing requirements. Our seasoned professionals at MBG ensure a smooth transition to the new Corporate Tax (CT) regime in the UAE, lightening the burden on your team. Our corporate tax experts are currently engaged in assessing tax impacts, reviewing transfer pricing, examining cross-border transactions, and planning operational implementation for numerous businesses in the UAE.

Why Choose Us?

Expertise and Experience

Our team comprises seasoned professionals with extensive expertise in corporate tax matters. With years of experience, we have successfully navigated the complexities of tax regulations, ensuring our clients benefit from sound advice and effective solutions.

Seamless Transition

Transitioning to a new era of corporate tax can be challenging. We specialize in providing seamless support during this critical phase, guiding your business through the changes effortlessly and minimizing disruptions to your operations.

Comprehensive Service Offerings

Our Corporate Tax in UAE offerings cover a wide spectrum, including impact assessments, transfer pricing reviews, and compliance support. By choosing us, you gain access to a comprehensive suite of services that address every aspect of corporate taxation.

Client-Centric Approach

We understand that every business is unique. Our approach is tailored to your specific needs, ensuring that our solutions align with your company’s goals and structure. Your success is our priority.

Proactive Planning

Proactivity is key in the ever-evolving tax landscape. Our corporate tax teams are proactive in identifying potential challenges and opportunities, allowing your business to stay ahead and make informed decisions.

Commitment to Compliance

Keeping up with compliance requirements is crucial. We provide ongoing support to ensure your business stays compliant with the latest tax regulations, giving you peace of mind and minimizing the risk of penalties.

Trusted Partner

MBG has established itself as a trusted partner for numerous businesses in the UAE. Our commitment to excellence, integrity, and client satisfaction sets us apart, making us the preferred choice for corporate tax services.

Choose MBG for Corporate Tax Services in the UAE, and let us be your strategic partner in navigating the complexities of the evolving tax landscape, ensuring your business thrives in the new era of corporate taxation.

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IBZ Consult LLC is offering you a complete package of accounting solutions. We help you in VAT registration, VAT Return Filing, Accounting and Bookkeeping, VAT De Registration, Tax Planning & Filing and more professional services.