Corporate Tax Advisory Services

‘When you find it hard to understand tax, we understand both of you!’

Tax Management is considered as the toughest responsibility of an organization as it demands intricate detailing and effective structuring. However, proper tax history helps prevent financial loss and reduces liability while enhancing the goodwill of the organization. BCL’s tax service suite provides a comprehensive approach to the overall tax structure of your organization.

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The United Arab Emirates, which houses significant corporate gateway of Dubai, will have one of the lowest corporate tax rates in the world. This proposal stems from the UAE’s intention to comply with international tax rules, reflecting similar efforts in other Gulf nations, while reducing regulatory burdens for UAE firms and protecting small businesses and start-ups.

Effective Date:
The UAE has decided to introduce Corporate Income Tax (CIT) on business profits in the country. It will be effective for financial years starting on or after June 2023.

Corporate Tax Rates in UAE :
The following are the proposed corporate tax rates:

  • A 0% tax rate applies to taxable income up to AED 375,000
  • A 9% tax rate applies to taxable income over AED 375,000
  • All multinational corporations subject to OECD Base Erosion and Profit-Sharing laws that belong within Pillar 2 of the BEPS 2.0 framework, i.e. combined worldwide revenues in excess of AED 3.15 billion (€750m) will be entitled to varying rates

Key Takeaways from UAE Corporate Law:

  1. Law not applicable to Individual’s Salary Income, Dividend Income, Capital gains, Rental Income (Passive Incomes)
  2. Free Zones that do not operate a business with the mainland will be getting the benefit of corporate tax incentives depending on the respective Free Zone regulations. An yearly CIT return is required to be submitted for all free zones
  3. Non-residents are subject to tax on UAE sourced income and taxable income form PE in the UAE
  4. Transfer pricing as per the OECD guidelines is applicable. Transactions with owners, directors, officers, etc. shall be as per Arms’ Length Price.
  5. TP benchmarking study to be conducted for determining ALP, mandated by every Company.
  6. Any foreign Corporate Tax imposed on UAE taxable income shall be allowed as a tax credit against its annual tax liability.
  7. Domestic, cross-border payments and specified transactions are subject 0% withholding tax (WHT).

Tax Structuring

Proper structuring of tax creates a regulated framework for all your tax payments and trading arrangements. It helps in reducing a range of direct and indirect tax your organization is required to pay. A perfect tax plan aligns with its corporate strategy or business framework, and includes identification of tax risks.


Tax Filing

Filing proper tax returns on time with adherence to both national and international tax governance bodies (FTA, CSR, etc.) lets you off the penalties and legal proceedings. A business subject to CT will need to register with the FTA and obtain a Tax Registration Number within the prescribed period. The Tax return and the CT payment must be made within nine (9) months from the end of the relevant Tax Period.

Corporate Tax Filing Services:

  • Providing corporate tax registration services to all businesses.
  • Preparing and assisting in the filing of corporate tax returns.
  • Providing tax accounting services to streamline the accounts as per CT regulations.

Corporate Tax Impact Assessment Study

  • An initial assessment of the corporate tax impact as per the current operational structure of the company will be performed.
  • This will be followed by a system impact analysis which would include analysing the data that is required to be collated for corporate tax requirements and would include understanding whether the same is being captured by the existing systems in place.

Corporate Tax Advisory Services

  • Assessing and advising on tax implications for the company
  • Assessing the eligibility of corporate tax and advising on corporate tax exemptions to the mainland, offshore as well as free zone businesses, if any
  • Assessing and analyzing the possibility of tax grouping of the companies to avail tax benefits
  • Advising on the restructuring of group companies including foreign subsidiaries/branches
  • Advising on the possibility of foreign tax credits, withholding tax and deduction of expenses and interest

Our team of experts carefully assesses the advantages and disadvantages of the organizations’ activities and lays out an efficient tax plan. BCL stays updated with amendments in tax law to deliver reliable advisory on preparing proper documentation, and scrutinize the submission to avoid errors and inaccuracy.

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