Corporate Tax
Starting from the financial year commencing on 1st June 2023, the UAE will implement a federal corporate tax of 9% on business profits exceeding AED 375,000, as announced by the Ministry of Finance. This tax rate positions the UAE as one of the most tax-competitive countries globally and the lowest in the GCC, with Bahrain remaining the only nation in the region without a corporate tax system. The UAE aims to align its new tax framework with global best practices, focusing on making compliance straightforward and business-friendly.
Value Added Tax
At GEMS, we offer comprehensive VAT services tailored to businesses operating in the UAE. Since the introduction of the 5% VAT in January 2018, many companies have had to navigate new compliance requirements that can significantly impact their financial operations. We specialise in helping businesses manage these VAT obligations efficiently, ensuring accurate VAT registration, filing, and reporting to the Federal Tax Authority. Our aim is to simplify the complexities of VAT compliance so that companies can focus on their core operations while benefiting from reclaiming VAT on their business expenses. By partnering with us, you gain access to expertise that aligns your corporate tax strategy with best practices, streamlining your business’s financial management in the UAE.
Corporate & Partnership Taxation
We provide expert guidance on managing Excise Tax obligations for businesses in the UAE. Excise Tax is specifically levied on goods that pose risks to human health or the environment, such as tobacco products, sugary drinks, and energy drinks, with the aim of discouraging their consumption. Unlike VAT, Excise Tax is applied only once when the goods are released for consumption, and then these products are circulated through the supply chain with a "Tax Paid" status. We assist businesses in ensuring compliance with Excise Tax regulations, managing tax declarations, and optimising their financial strategies to minimise potential impacts. Our focus is on simplifying the complexities of Excise Tax, so your business remains efficient and fully compliant in meeting all regulatory requirements.
Corporate Tax Compliance and Filing
Navigating corporate tax compliance can be a complex process, but our firm makes it seamless for your business. We offer comprehensive tax compliance and filing services in the UAE, ensuring that your corporate tax returns are accurate and submitted to the Federal Tax Authority (FTA) on time. Our team handles all the documentation and reporting requirements, so you can focus on your core business activities without the worry of penalties or missed deadlines.
Quarterly Estimated Taxes
Stay compliant with tax regulations by accurately calculating and filing quarterly estimated taxes for your business. We assist in estimating taxes based on your earnings to avoid penalties and overpayments.
Tax Audit Support
Facing a tax audit can be daunting, but our tax audit support services in the UAE are designed to make the process smooth and hassle-free for your business. We assist with preparing audit-ready documents, resolving issues raised by the Federal Tax Authority, and ensuring that your company remains compliant with UAE tax regulations. Our expertise helps you navigate the complexities of a tax audit with confidence and clarity.
Cross-border Tax Structuring in UAE
Expand your global footprint with our cross-border tax structuring service. We guide businesses through the complexities of international tax laws, ensuring efficient tax structuring for cross-border transactions and transfer pricing. Our focus is on reducing tax risks and maximising opportunities for global growth by optimising your international tax positions, making your business more competitive on a global scale.