Navigating UAE Corporate Tax: Corporate Tax Planning from FAR Consulting Middle East

The introduction of corporate tax in the UAE

https://www.farahatco.net/corporate-tax-consultant-uae/ under Federal Decree-Law No. 47 of 2022 has significantly reshaped the financial landscape for businesses operating in the UAE. Businesses must understand the requirements to remain compliant, avoid costly penalties, and optimize their tax positions. FAR Consulting Middle East. specializes in guiding businesses through this complex regulatory framework.

UAE Corporate Tax Filing: What Your Business Needs to Know

Any UAE-based business with an annual revenue exceeding AED 1 million, including sole proprietorships and unincorporated partnerships, may be subject to corporate tax. Companies must ensure:

• Timely Registration: Firms are required to complete corporate tax registration https://www.farahatco.net/blog/corporate-tax-in-the-uae/ before March 31 of the year following the year in which they exceed the revenue threshold.
• Timely Filing of Returns: The initial corporate tax return must be submitted within nine months after the end of the fiscal year.

With the right guidance, businesses can ensure both compliance and peace of mind when filing corporate taxes in the UAE.

Corporate Tax Return Filing in the UAE: Avoid Penalties

Failure to comply with corporate tax obligations can result in significant penalties, including:

• Late Registration: AED 10,000 for registrations submitted after the deadline.
• Errors or Missed Submissions: AED 1,000-2,000 for each instance of inaccurate or late filing.

Timely filing is essential to avoid unnecessary fines. Farahat & Co. manages the entire process, ensuring that businesses meet deadlines efficiently and without stress.

How to File a Corporate Tax Return in the UAE: Key Considerations

Companies and their tax advisors must carefully manage all details when preparing and submitting corporate tax returns. The Federal Tax Authority (FTA) mandates:

• Comprehensive Financial Records: All transactions must be accurately documented.
• Precise Tax Calculation: Apply the 9% corporate tax rate to taxable income exceeding AED 375,000.
• Electronic Filing: All returns must be submitted via the FTA EmaraTax portal.

Corporate Tax Penalties in the UAE: Risks of Non-Compliance

Non-compliance carries serious consequences:

• Late Registration: AED 10,000
• Incorrect Returns: AED 1,000-2,000 for initial and subsequent violations
• Unpaid Taxes: 2% penalty on unpaid tax from the due date, plus 4% per month thereafter

Seek the Expert Services of FAR Consulting Middle East

We offer tailored services to ensure businesses meet their corporate tax obligations efficiently:

1. Registration Assistance: Prompt and accurate registration with the FTA.
2. Return Preparation and Filing: Comprehensive support in preparing and submitting corporate tax returns.
3. Tax Strategy Planning: Legal strategies to minimize tax liabilities.
4. Penalty Management: Representation and advice regarding penalty avoidance or waiver applications.
5. Continuous Compliance Monitoring: Ongoing support to ensure future compliance.

By partnering with FAR Consulting Middle East your business can avoid penalties and achieve full compliance through registration, filing, planning, and continuous monitoring.

We provide expert advice to help businesses comply with regulations, reduce fines, and strengthen their financial position. Contact us today to secure a compliant, and we shall be glad to assist you.

This release was published on openPR.