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Tax Advisory
We help our clients arrange their affairs prospectively to achieve economic, and financial goals of the business, while minimizing tax. We as tax advisers help clients make choice-of-entity decisions, structure cross-border transactions, or plan their estates. We advise our clients about how to proceed, and we also draft legal documents to effectuate the planned transactions.
1. UAE Corporate Tax Election and Understanding
As the UAE Corporate Tax is fairly news, we offer advisory services for companies for registering under the UAE Corporate Tax Law, assisting in electing registration status such as Qualified Free Zone status, Small Business relief, or regular taxpayer category through Tax Simulation.
2. UAE Corporate Tax Readiness Assistance
We can assess the Financials of the Group Companies and produce a first impact assessment and mock calculation. Our scope includes:
- a. To assess the Financials of the Group Companies and recommend Tax Groups.
- b. If the First Impact Assessment has been done, review the assessed Tax Group and implement the most Tax efficient group/Option.
- c. Preparing a Tax working memorandum of the technical position, including
- d. Supporting documentation for filing tax return,
- e. Tax methodologies and the steps to prepare the tax return
- f. Explanation of calculation to the tax grouping option,
- g. Tax deductions,
- h. Structural changes adopted prior to the first fiscal year, and
- i. an outline of the tax technical position.
- j. Advisory/ summary of the cabinet decisions impacting the group companies and branches.
- k. A Mock Corporate Tax computation for the entities and tax groups, with a list of impact of CT on accounting net profit and potential tax liability based on the last audited financial figures.
3. All Tax Advisory
Our expertise covers all aspects of UAE and Oman Tax laws, as well as International Tax Laws, including,
- UAE and Oman Corporate Tax,
- UAE and Oman Value Added Tax,
- UAE and Oman Excise,
- UAE and Oman Excise,
- UAE and Oman Country by Country Reporting,
- Pillar 2,
- Tax Treaties application,
- CRS, and
- FATCA
At DP Taxation, the tax advisors not only advise clients about what steps to be taken to achieve a tax favourable treatment, but our tax accountants also calculate the tax savings that will be achieved from implementing the favourable treatment. We are tax practitioners with broad area of practice.
Frequently Asked Questions
A competitive CT regime based on international best practices will cement the UAE’s position as a leading global hub for business and investment and accelerate the UAE’s development and transformation to achieve its strategic objectives. It will also help UAE’s commitment to meeting international standards for tax transparency and preventing harmful tax practices.
Companies that are incorporated under the laws of the UAE, free zone or otherwise will be considered a Resident Person for Corporate Tax purposes.
Foreign companies may also be treated as Resident Persons for Corporate Tax purposes where they are effectively managed and controlled in the UAE, or they are branches of an UAE Entity.
Natural persons will be subject to Corporate Tax as a “Resident Person” on income from both domestic and foreign sources, but only insofar as such income is derived from a Business or Business Activity conducted by the natural person in the UAE and the revenue exceeds AED 1 million.
Non-Resident Persons are juridical persons who are not Resident Persons and:
• have a Permanent Establishment in the UAE; or
• derive State Sourced Income.
Non-Resident Persons will be subject to Corporate Tax on Taxable Income that is attributable to their Permanent Establishment.
So far for the UAE sourced income, there are no Withholding Tax applicable.
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