Empower your UAE business or individual endeavors—commercial licenses, free zone compliance, foreign entities in trade, banking, real estate, construction, development, agency, and brokerage. Navigate the UAE landscape effortlessly with us.
All individuals and businesses conducting business activities under a commercial license in the UAE.
Free zone businesses have mainland-sourced income in respect of all their income.
Foreign entities and individuals if they conduct business or trade in the UAE in a regular or ongoing manner.
Banking operations
Business engaged in real estate management, development, construction, brokerage activities, and agency.
Welcome to our Corporate Tax FAQ section, designed to address common queries and offer insights into the intricacies of taxation in the UAE. Explore key topics for a clearer understanding of corporate tax regulations and strategies
UAE has already announced corporate tax to be implemented on or after 1 June 2023. The business will become subject to UAE corporate tax according to its net profit rate. All those businesses which have AED 375,000 net profit or more are subject to paying 9% corporate tax.
Records and documents should be kept for at least seven years following the end of the relevant Tax Period.
Given CT is imposed on an annual basis, it is necessary to specify the “Tax Period”. The Tax Period will normally be the Gregorian calendar year (i.e. from 1 January to 31 December), unless the business applies a different 12-month period for preparing its financial statements.
For UAE CT purposes, the financial statements of UAE entities and other businesses should be prepared in accordance with accounting standards accepted in the UAE. International Financial Reporting Standards (IFRS) is the most frequently used accounting standard in the UAE.
Taxpayers are expected to prepare and maintain financial statements for the purposes of calculating their taxable income, and should maintain all documents and records that support the information in the CT return or in any other filing made with the Authority. Exempt persons are required to maintain all records to support their exempt status.
Businesses and individuals in the UAE with commercial licenses, including free zone businesses complying with legal requirements, foreign entities engaged in ongoing trade, banking operations, and companies in real estate management, construction, development, agency, and brokerage.
All individuals and businesses conducting business activities under a commercial license in the UAE.
Foreign entities and individuals if they conduct business or trade in the UAE in a regular or ongoing manner.
Free zone businesses have mainland-sourced income in respect of all their income.
All individuals and businesses conducting business activities under a commercial license in the UAE.
Free zone businesses have mainland-sourced income in respect of all their income.
Foreign entities and individuals if they conduct business or trade in the UAE in a regular or ongoing manner.
Banking operations
Business engaged in real estate management, development, construction, brokerage activities, and agency.
Start a streamlined journey to corporate tax compliance in the UAE. Learn the essentials and navigate registration seamlessly
UAE-based companies and juridical persons.
Individuals conducting business activities in the UAE.
Non-resident foreign legal entities with a Permanent Establishment in the UAE.
Juridical persons in UAE Free Zones, subject to conditions for a 0% Corporate Tax rate on Qualifying Income.
For VAT-registered entities : corporate tax registration is streamlined with pre-filled data, making the process efficient.
No Penalties for Timely Registration : Ensure registration before the tax return due date to avoid penalties.
Entity details
Identification details
Authorized signatory
Contact details
Review and declaration
● Trade license, where applicable
● Emirates ID / Passport of the applicant
● Trade license
● Emirates ID / Passport of authorized signatory
● Proof of authorization for the authorized signatory.
Accepted file types are PDF and word. The individual file size limit is 5MB.
UAE has already announced corporate tax to be implemented on or after 1 June 2023. The business will become subject to UAE corporate tax according to its net profit rate. All those businesses which have AED 375,000 net profit or more are subject to paying 9% corporate tax.
If the company is registered in UAE, then it has to register for the corporate tax no matter whether they are subject to a 0% tax rate or a 9% tax rate.
Absolutely! Canara Tax Consultancy offers expert assistance in filing corporate tax returns for your company. Our experienced team can guide you through the process, ensuring accurate and timely submission.
The corporate tax period changes based on when the company’s financial year comes to an end
|
Entities With Financial Year Ending
|
First Corporate Tax Period
|
CT Return Filing and Payment Due Date
|
|---|---|---|
|
30 June
|
1 July 2023 - 30 June 2024
|
31 March 2025
|
|
31 December
|
1 January 2024 - 31 December 2024
|
30 September 2025
|
|
31 March
|
1 April 2024 - 31 March 2025
|
31 December 2025
|
© 2023 Canara .All rights reserved.Designed By Cookies Technologies.
© 2023 Canara .All rights reserved.Designed By Cookies Technologies.
