The Federal Tax Authority (FTA) has introduced pre-registration of corporate tax for specific categories of businesses functioning in the country. These companies are invited by the Tax Authority of UAE to register for corporate tax through the EmaraTax platform for digital services.
The taxable person must be eligible to register for Corporate Tax, either mandatorily, or voluntarily according to the criteria stated by the Federal Law on taxation.
At ACCORD, we have a team of professionals well-versed in international tax standards who can provide the best guidance related to corporate tax. Our accredited tax experts have knowledge of every industry that helps in achieving best tax solutions. We support our clients in planning and executing tax procedures as per the UAE law. If you are looking for a corporate tax consultant, Accord is the right choice for you.
The Corporate Tax of UAE will remain the lowest tax rate in the world, and it reduces the compliance burden on businesses. The introduction of Corporate Tax will increase the revenue of the UAE which is essential to stand competitive in the global business and investment environment. This would bring more financial discipline in the corporate culture which would in turn result in the proper maintenance of record keeping. The proposal of introducing Corporate Tax stems from the UAE’s commitment to meet international standards of tax transparency while protecting start-ups and small businesses in the UAE.
