Commencing from June 1st 2023, UAE corporate tax will be effective. The corporate tax rate is set at 9% for accrued taxable income above 375,000 AED and 0% for taxable income below 375,000 AED. To effectively implement corporate tax standards and to stay compliant, it is advisable for taxable persons to outsource corporate tax functions to Tax Consultants UAE.
Benefits of outsourcing corporate tax functions
Companies can minimize costs in distinct ways by outsourcing their corporate tax functions, as explained below:
- Businesses are spared the expense of hiring, educating, and keeping an internal tax staff.
- Businesses can save money by forgoing the expense of purchasing the infrastructure and software needed to administer corporate tax functions.
- Outsourcing corporate tax functions allows businesses to only pay for streamlined services they require, which is profitable in nature.
Read more: How to Register for Corporate Tax in UAE?
Increase in overall business performance
Outsourcing corporate tax functions enhances overall business performance and effectiveness. Businesses can concentrate on core tasks and competencies as they outsource tax obligations to tax experts. Tax Consultants UAE assists taxable persons to handle the entire tax process, from preparing tax returns to timely filing them, therefore freeing up businesses to zero down on other crucial facets of their operations.
Read more: How is corporate tax calculated in UAE?
Risk reduction through outsourcing corporate tax functions
It is imperative for taxable persons to stay compliant with the Federal Tax Authority’s regulations and standards, to which noncompliance accrues hefty fines and penalties. Therefore, outsourcing corporate tax functions to Tax Consultant UAE assists taxable persons to stay updated and compliant with the latest regulations and standards.
Seek the expert services of top tax consultants in the UAE
It is critical for taxable persons to seek the services of the most reliant tax consultant in the UAE to achieve effective tax solutions. Tax Consultant UAE is committed to offering tailored tax solutions that meet the client’s specific needs upon tax preparation and filing, in compliance with tax regulations and standards. Therefore, contact us today and we shall be glad to assist you.