Understanding UAE Corporate Tax
Introduction to the 9% Corporate Tax Rate
The UAE introduced a federal corporate tax with a standard rate of 9%, effective from June 2023. This is a significant development for all businesses operating in the UAE, including those owned by Irish entrepreneurs. While this rate is still highly competitive globally, it requires careful planning and compliance.
At Business Setup Solutions Dubai, we specialize in helping Irish businesses navigate this new tax landscape, ensuring full compliance while optimizing your financial strategy.
Key Compliance Requirements for Irish Businesses
- FTA Registration: All businesses in the UAE, including those in free zones, must register with the Federal Tax Authority (FTA).
- Annual Tax Returns: Companies are required to file an annual corporate tax return with the FTA.
- Financial Records: Maintaining accurate and audited financial statements is mandatory for tax purposes.
- Transfer Pricing: Businesses with international transactions, such as those with a parent company in Ireland, must comply with transfer pricing regulations.
Corporate Tax in UAE Free Zones
While free zones have historically offered a zero-tax environment, the new corporate tax law applies to them as well. However, 'Qualifying Free Zone Persons' can still benefit from a 0% tax rate on 'Qualifying Income'. Our experts can help you determine if your business qualifies and assist you in meeting the specific requirements.
How We Can Assist You
Our team provides end-to-end support for Irish businesses dealing with UAE corporate tax. From initial registration with the FTA to strategic tax planning and filing of annual returns, we ensure your business remains compliant and efficient. Contact us today for a consultation.