Tax is one of the most important variables facing a business. It helps determine what kind of corporate structure is appropriate. Meeting your tax compliance obligations and developing a strong tax strategy is crucial to the success of your business.
Are you in control of your corporate tax position?
While corporate taxation rules are increasingly complex and subject to frequent amendments, these can also facilitate investments and tax savings when optimally applied. To achieve this, you need to understand the tax implications of your business operations, possible alternatives and strategies in all relevant jurisdictions. Only then will you be able to control and optimize your corporate tax position. This is, however, not an easy task that any business can successfully manage alone.
Our corporate tax advisors understand the industry specific implications of the UAE tax rules and their international dimensions. We can assist you with your corporate tax optimization and compliance needs.
Preparation (review) of quarterly and annual income tax provision, including:
- accounting for uncertain tax positions,
- accounting for business combinations or discontinued operations,
- valuation allowance analysis,
- and fresh start accounting
UAE Corporate Tax impact assessment
- Undertaking a qualitative and quantitative impact assessment, considering potential exemptions from UAE CT, free trade zones incentives and requirements, possibility and benefits of tax grouping/ consolidated filings, expenditure deductibility restrictions and requirements, taxation of cross-border transactions (withholding taxes and foreign tax credits), compliance requirements and transfer pricing
- Undertaking an IT Infrastructure Assessment to identify changes to the financial systems that are required for UAE CT compliance,
- Working with key stakeholders including Group tax, Finance, IT and legal (as applicable) to assist with the implementation of UAE CT, including (but not limited to) advising on required corporate restructuring, specific tax positions / decisions/ technical clarifications; assisting in system design and implementation (subject to initial impact assessment & IT indication/confirmation on the extent of support required); reviewing the tax clauses (e.g. of tax provisions, tax stabilization clauses, etc.) in contracts, reviewing the existing tax governance framework and tax risk policies, delivering UAE CT training sessions; providing compliance support and providing ad-hic tax advisory and tax accounting support.