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Corporate Tax Services and Corporate Tax Consultants in Dubai

Corporate tax management is an essential part of conducting business in Dubai. Since corporate tax has been implemented in the UAE, it has become necessary for companies to remain compliant with the law so they don't have to face penalties and legal trouble. Golden Falcon Consultants provides professional Corporate Tax Services in Dubai so businesses can easily manage corporate taxation's complexities. Our Corporate Tax Consultants in Dubai offers full-service support, from tax registration to filing and compliance, to keep your business tax-efficient and fully compliant with UAE tax rules.

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Corporate Tax Services in Dubai

Significance of Corporate Tax Services in Dubai

The UAE implemented corporate tax to align with global tax norms and enhance the nation's position as a business hub. Proper tax management is necessary to ensure profitability, compliance, and prevention of unnecessary fines. Corporate tax services in Dubai are essential in assisting companies:

Ensure Compliance: The tax laws in the UAE are ever-changing. Professional tax consultants ensure that your company complies with the most current regulations.
Optimize Tax Liabilities: Expert tax consultants can minimize the total tax load with careful planning and uncovering tax-saving possibilities.
Avoid Penalties: Inaccurate filing or failure to meet deadlines can lead to heavy penalties. Professional corporate tax services ensure you are on time with deadlines and correct submissions.
Support Business Growth: With proper management of tax liabilities, businesses can concentrate on growing their business without fear of financial losses due to tax complications.

Corporate Tax Registration Guide: Requirements, Process & Deadlines

Corporate tax registration in Dubai is a formal process that adheres to government requirements. The following is a step-by-step procedure for corporate tax registration in Dubai:

01
Requirements for Corporate Tax Registration

Businesses are required to provide the following when registering for corporate tax:

  • Valid trade license
  • Company registration certificate
  • Financial statements
  • Authorized signatory details
  • Memorandum of Association (MOA)
02
Process of Corporate Tax Registration

Create an Account: Companies must create an account with the Federal Tax Authority (FTA) via the official online portal.
Fill Out the Application: Submit all business information and supporting documents.
Submit the Application: Once all information is verified, the company can submit the application online.
Receive the Tax Registration Number (TRN): The FTA will issue a TRN upon successful registration.

Deadlines for Corporate Tax Registration

  • New companies are required to register within 90 days of acquiring a trade license.
  • Companies registered on or before 2024:
Month of License Issuance Deadline to Apply for Corporate Tax Registration
January or February May 31, 2024
March or April June 30, 2024
May July 31, 2024
June August 31, 2024
July September 30, 2024
August or September October 31, 2024
October or November November 30, 2024
December December 31, 2024
Corporate Tax Services

Corporate Tax Filing Deadlines

Corporate tax filing deadlines in Dubai are established depending on the business's financial year. The general rules are:

Financial Year Ending on December 31: Tax returns should be submitted by September 30 of the subsequent year.
Financial Year Closing on March 31: Tax returns should be filed by December 31 of the same year.

Heavy penalties will be for late filing or non-filing of a tax return within the given deadlines.

Corporate Tax Filing Documents

There should be proper documentation to help in accurate corporate tax filing. Companies have to provide the following documents:

  • Financial statement
  • Trial Balance
  • VAT returns (if any)
  • Any other business transaction-related supporting documents.

Having proper records assists in easy tax filing and minimizes the risk of discrepancies or audits.

Corporate Tax Services

Corporate Tax Filing Penalties

Table of Violations and Administrative Penalties Annexed to Cabinet Decision No. (75) of 2023 on Violations Related to the Application of Federal Decree-Law No. (47) of 2022 on the Taxation of Corporations and Businesses

No. Description of Violation Administrative Fine Penalty Amount in AED
1 Penalties apply if records and information required by the Tax Procedures Law or the Corporate Tax Law are not kept up to date 10,000 AED for each infraction. 20,000 AED for repeated offenses committed within 24 months of the last violation.
2 Penalties for failing to provide the Authority with tax-related information in Arabic records, documents, and data 5,000 AED
3 Penalty under the Corporate Tax Law for the Registrant's late submission of the deregistration application 1,000 AED for late submission and no more than 10,000 AED each month.
4 Penalties for failing to alert the Authority of any situation necessitating a revision of Tax record information 1,000 AED for each violation. 5,000 AED for repeated violations that occur within 24 months of the previous violation.
5 Legal Representative will be penalized if they fail to send out appointment notifications 1,000 AED
6 Penalties for not filing a tax return by the legal representative For the first 12 months, 500 AED for each full or partial month. Starting with the thirteenth month, 1,000 AED for each month or part thereof.
7 Penalties for not submitting a tax return by the Registrant 500 AED for each full or partial month throughout the first 12 months. 1,000 AED for each month or part of a month after the thirteenth month. Penalties begin the day after the deadline for filing a tax return and are assessed monthly after that.
8 If the individual does not correct their tax return before the Corporate Tax Law deadline for submission, they will be subject to a penalty of 500. 1,000 AED
9 Voluntary Disclosure (errors in Tax Return, Assessment, or Refund) From the due date until the voluntary disclosure, there is a 1% monthly penalty on the Tax Difference.
10 Failure to submit Voluntary Disclosure (before Tax Audit) The tax difference is fixed at 15%. From the deadline until the issuing of the voluntary disclosure or tax assessment, 1% of the monthly tax difference is required.
11 Failure to offer facilitation to Tax Auditor 20,000 AED
12 Late submission of Declaration For the first 12 months, pay 500 AED every month. From the thirteenth month onward, 1,000 AED each month.

Various Types of Taxes in the UAE

The UAE has introduced several tax structures to align with international standards, diversify its economy, and enhance economic transparency. The principal types of taxes applicable in the UAE include:

Corporate Tax

Implementation: Introduced in 2023.
Tax Rate: 9% on net profits above AED 375,000.
Scope: Applicable to mainland businesses and qualifying free zone entities (with exemptions for those meeting certain conditions, such as maintaining compliance with UAE free zone regulations).

Value Added Tax (VAT)

Implementation: Introduced on January 1, 2018.
Tax Rate: 5% on most goods and services.
Threshold for Registration:
Mandatory Registration: Annual taxable turnover exceeding AED 375,000.
Voluntary Registration: Businesses with taxable turnover between AED 187,500 and AED 375,000 may register voluntarily.

Excise Tax

Products Covered: Levied on specific goods considered harmful to health or the environment, including:
Tobacco and tobacco products (100% excise tax).
Sugary and carbonated beverages (50%).
Energy drinks (100%).
Purpose: To discourage the consumption of harmful products and promote healthier living.

Customs Duty

Standard Rate: 5% on most imported goods.
Exemptions: Goods imported from GCC countries or those covered under specific free trade agreements may be exempt from customs duty.
Special Provisions: Some luxury items (e.g., alcohol) may have higher customs duty rates.

Benefits of Tax Consultation Services in Dubai

Expert consultants know the complexities of UAE tax laws and offer strategic guidance.

Consultants spot tax-saving opportunities and assist in minimizing tax liabilities.

Keep updated with the latest tax rules and regulations and ensure proper filings.

On-time and correct tax filing avoids penalties and legal issues.

Business companies can concentrate on core business activities without being concerned about tax compliance by outsourcing tax services.

Why Golden Falcon Consultants for Your Tax Consultancy Services in Dubai

Golden Falcon Consultants is a reliable corporate tax consultancy firm in Dubai, providing complete tax solutions customized to companies' requirements in different business sectors. Here's why companies rely on us:

FTA Approved Tax agent: We are a certified/approved tax agent by FTA UAE since 2018.
Experienced Team: Our certified tax consultants possess a great deal of experience working with UAE tax laws.
Comprehensive Services: We provide every corporate tax detail from filing and registration to tax advisory and compliance.
Customized Solutions: We provide tailored tax solutions for your business objectives.
Proactive Approach: We track changes in regulations and always keep your company in line with them.
Client-Centric Service: We are committed to customer satisfaction, providing timely and assured support.

Golden Falcon Consultants is your trusted partner for corporate tax services in Dubai. From tax registration to filing and compliance, we assist your business in staying competitive.

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