Helping You Navigate the new Corporate Tax Regime in UAE

Our tax consulting team assists you in managing business-specific tax challenges.

Soon, corporate taxes will be payable in the UAE. Your business needs to comply with the new taxation regime. There will be many questions. and challenges.

Our Team at KPI, is here to offer answers to your questions. And solutions to your challenges.

Our Corporate Tax Services

Impact assessment (Pre introduction of the CT legislation)

These services are setup to get familiar with Corporate Tax and conducted prior to Corporate Tax legislation coming into effect. In helping your business prepare for Corporate Tax, our tax experts are trained to give you a thorough understanding of both the legislations as well the policies and procedures which helps you to understand the impact of the Corporate Tax on your business.

Understand the business and the organization structure in the UAE.
Understand and review the transactions specifically wrt related parties/connected persons.
Understand and review the existing IT systems including the chart of accounts.
Review the nature of expenses including those paid to related or connected parties.
Identify the nature and quantum of the disallowable expenses.
Rework the adjusted EBIDTA and understand the potential impact on the cash flow.

Detailed assessment (Post publication of CT legislation)

Once it has been published and is in force, our advisory team will guide you through the next stage of doing a thorough analysis of the law in relation to your business activities. It will assist you in understanding the aspects of the law relevant to your particular industry and preparing the financials as necessary.

Suggest and advise on the most beneficial structure from the CT perspective.
Advise on the cost-effective registration option - Tax Group or Individual.
Carry out need based modification to the impact assessment.
Identify account codes in the chart of account that require adjustment.
Impact on profitability wrt transactions with related parties (as per transfer pricing guidelines).
Rework the adjusted EBIDTA and understand the potential impact on the cash flow.

Implementation

This stage involves actioning a solid plan - starting with registering your business with the FTA and implement best practices in day-to-day operations. Our team helps your business with talent mapping, identifying gaps within your team’s expertise and addressing them with upskilling, training or outsourcing, especially in the first year.

Assistance in implementation of the beneficial structure.
Assistance in CT registration with FTA.
Assistance in determining arms length pricing from transfer pricing requirements.
Modification to chart of accounts.
Training the accounts and finance staff on CT requirements and legislation.

Corporate Tax Returns filing (annual basis)

Tax return filing is an integral component of the Corporate Tax regime. Apart from ensuring tax compliance for your tax affairs are up-to-date and dealt with efficiently, our team of experts assist you with filing tax returns every year. This stage involves guidance on tax calculations, offering tax planning advice and preparing and submitting accurate information in compliance with the law.

Review of the audited/unaudited financial statement as per GAAP.
Identify the taxable adjustments to be carried out as required by the CT legislation.
Prepare the adjusted financial statement for CT purposes.
Arrive at the adjusted EBITDA.
Finalise and file the CT return ready with necessary supporting documents.
Need based post Tax return filing assistance.

Technology

Our tax advisory team are experts in use of technology for all financial and accounting purposes. Led by employing the right technology, our team will guide your finance team to implement the best tax technology - increasing accuracy and compliance through comprehensive data management and enhancing audit, closing and reporting activities.

Review the current IT systems for accounting and recording transactions.
Review the transaction flow and the chart of accounts.

Preparing for the Corporate Tax regime in UAE - The bottom line

Unless completely out of scope, the introduction of the federal corporate tax will have an effect on your business - whether it is making a tax payment or making sure that tax return filing requirements and/or transfer pricing papers are met.

A non-compliant tax practice would not only result in financial loss but would also damage the reputation of your department and organization. It would indicate a poor corporate governance.

Overall, the corporate tax regime in UAE is set to have a positive impact on a macro-economic level, and businesses operating in the UAE should see this as a strategic development.

Our tax experts at KPI would be happy to guide you on every action your business needs to take to comply with the law, once it becomes effective.

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