Looking for the best and most efficient Dubai corporate tax consultants? We have got your back. A Corporate tax consultant has become the need of the hour for businesses to prepare them for the revised tax regime. Therefore, in the article below, we have accumulated some of the top companies in the UAE that offer the finest and most systematized corporate tax services to businesses and help them deal wisely with their tax deeds.
Corporate Tax: Explained
The government of UAE recently announced the implementation of corporate tax, beginning with the fiscal year on June 1, 2023. This simply means that the authorities will start taxing business and commercial activities from the specified date onwards. This tax regime was designed to reduce the compliance burden on businesses and encourage small businesses and startups in the area.
According to this law, a 9% corporate tax will be levied on all profits up to AED 375,000 made by the company. Entities with profits less than the mentioned figure will be subject to 0% corporate tax. Hence, to analyze the figures and check the eligibility, companies have to produce their financial statements as per the internationally accepted accounting standards and present them before the Federal Tax Authority(FTA) in the UAE.
Corporate tax consultants in UAE
In order to keep up with the tax amendments and comply with the new tax regime, hiring corporate tax consultants has become a fundamental requirement for businesses. These consultants help them with their tax needs and deal with issues related to taxes. Moreover, they provide the best services to the company in order to meet international tax standards.
Responsibilities of Corporate Tax Consultants in UAE
The key responsibilities of Dubai corporate tax consultants include:-
- Checking the eligibility of the company for corporate tax compliance
- Prepare pertinent records & necessary documents
- Making the clients understand the taxable rates and how companies are taxed according to the slab
- Handling carry-forward losses, allowable expenses, foreign tax credits, tax group formation, withholding tax, and other essential conditions
- Managing tax return filing, tax payments, and financial audits
Importance of hiring Dubai corporate tax consultants
- Ensures accuracy in records
- Focuses on essential business strategies
- Offers risk-free services
- Always keeps up with the changing trends and tax structure
- Provides comprehensive audit services
- Systematic arrangements
- Handles documentation well
- Ensures fewer computation errors
- Minimizes unknown liabilities
- Prevents adverse consequences
- Saves valuable business time
Top Dubai corporate tax consultants
Below described are some of the leading corporate tax consultants in UAE -
1. Shuraa Tax
Shuraa Tax Consultants offers a professional approach to companies on UAE taxation services. In fact, they are one of the leading tax consultants in the UAE working towards excellence. Through their extensive knowledge & liberal neutrality, they provide full support in every tax-related obligation and make sure that their clients are FTA compliant.
2. KPMG
KPMG is listed among the most reputed Corporate tax consultants in Dubai. They are well-known for their supreme business & corporate services and innovative solutions that unify a diverse global network of industry experts. Their top services include Assurance, Tax and legal, Consultancy, and Financial Advisory.
3. PwC Middle East
PwC has its branches in 158 countries around the world. They help both organizations and private entities produce desired results in compliance with the applicable tax structure. Similarly, in Dubai, the Pwc Corporate Tax Consultants offer quality assurance, tax, and advisory services along with legal services through their lawyers & industry specialists. Furthermore, they aim to improve the global position of their clients by allowing them to focus on essential business performances.
4. Ernst & Young
Ernst & Young has decades of expertise and experience in corporate tax consultancy, and therefore, considering them to fulfill your tax commitments will be a wise decision. E&Y is a prominent member of many corporate taxation associations such as The American Institute of Certified Public Accountants (AICPA), The Institute of Chartered Accountants in England and Wales (ICAEW), and The European Federation of Accountants (EFAC). Hence, being the most traditional corporate tax consultant in Dubai, they can offer wide-ranging financial solutions from corporations all over.
5. Creative Zone Tax & Accounting
Established in 2010, Creative Zone is also a prominent part of the bigger network that offers specialized company services. It strives to deliver expert end-to-end guidance and support to businesses in the UAE. Apart from company formation facilities, it also provides dedicated support in activities related to accounting, auditing, tax consulting, and practical advice to its valuable clients in the UAE.
6. EBS Chartered Accountants
If you are looking for a single-source solution to all your needs related to Finance, Corporate tax, and Digital services, then EBS Chartered Accountants is your ultimate destination. Their team of professionals have years of experience in their respective fields. Hence, they can regularly update you with the new tax laws in the UAE and also detail you about the tax structures. On the whole, they will help you with all your doubts and carefully handle all your tax requirements.
7. Charles & Darwish Associates
Charles & Darwish Associates(CDA) specializes in providing comprehensive tax services to its clients in the UAE covering areas of VAT, corporate tax planning, international tax structuring, and tax optimization strategies. Their highly skilled tax professionals offer inclusive tax advisory and compliance services tailored to the needs of the clients. Subsequently, they have established a strong reputation in the global market for delivering top-notch corporate tax services.
8. Kreston International
Kreston International is a renowned tax consulting firm with a strong presence and reputation in the UAE market. Their team of professionals is dedicated to their respective jobs and always stays acquainted with the latest tax regulations and industry trends. Through their vast network and resources, they aim to provide a wide range of tax solutions to their clients and ensure that their clients receive what they demand.
9. Farahat & Co.
One of the highly regarded tax consulting firms, known for its exceptional services is Farahat & Co. Mr. Hamed Farahat, founder of the company, established it to provide a wide range of consultancy and advisory services for tax-related matters. Their team consists of expert and knowledgeable tax professionals who assist businesses and individual entities in maneuvering the complexities of the UAE tax system, thereby ensuring compliance and improving tax conditions.
10. Aviaan Accounting
Avian Accounting serves clients all over the UAE creating an ideal balance between professionalism and personal relationship. They understand their clients' needs, make them comfortable, and finally work as effective consultants delivering excellent services at affordable prices. Therefore, through their consistent performance, they have succeeded in maintaining a good reputation in the industry.
Choose the best Dubai corporate tax consultants for your business
Dubai corporate tax consultants create a significant impact on businesses and make sure that their finances are administered successfully. A well-managed finance can take your business to greater heights. And that is why, choosing a reliable, qualified, and reputable tax consultancy firm is the best thing you can do for your dream venture.
Shuraa Tax offers the most reputed and accredited audit and corporate tax services in the UAE. They judiciously assess the financial structure of their client business and suggest the most curated solutions. Overall, their services are top-rated and highly regarded. So, give a call to Shuraa Tax and speak to their tax experts to get help with your finances.
