In the ever-evolving realm of contemporary business, effectively managing corporate tax obligations and enhancing tax efficiency are imperative for sustainable growth and financial prosperity. At Standard Auditors, we provide a comprehensive array of Corporate Tax Services meticulously crafted to empower UAE businesses to thrive amidst intricate taxation regulations. Our suite of services encompasses CT Impact Assessment, CT Implementation, and CT Continuous Compliance, all tailored to suit your specific requirements and minimize your tax burden.
CT Impact Assessment:
Our specialized team of tax experts diligently scrutinizes the implications of key facets of the UAE CT Law on your enterprise, furnishing valuable insights and recommendations to ensure compliance while maximizing tax advantages. We conduct an exhaustive evaluation of tax grouping criteria, foreign tax credits (including withholding taxes), free trade zones and incentives, limitations on interest deductibility, non-allowable expenses, conversion of opening balances at arm’s length prices, tax reliefs, and carried forward tax losses. Furthermore, we analyze your present standing and propose revised structures and options to mitigate the tax impact and identify potential working capital gaps. Our comprehensive system impact analysis identifies any deficiencies in your ERP systems that could impede adherence to UAE CT regulations.
To facilitate seamless implementation, we offer an assortment of services. These include adjusting opening balances using transfer pricing principles, determining arm’s length prices for transactions involving related parties, and providing benchmarking analysis in alignment with UAE TP regulations and OECD guidelines. We assist in preparing Local and Master file templates to meet TP documentation requirements, support any necessary changes to your company’s legal structure, provide guidance on necessary adaptations to your ERP system for CT compliance, review tax clauses in contracts and propose revisions, and aid in submitting clarifications and tax rulings for uncertain CT positions. Additionally, we furnish you with a Tax Compliance Manual that outlines CT return procedures and offers guidelines on administrative steps such as document retention, compliance, and administrative penalties.
CT Continuous Compliance:
Maintaining ongoing compliance is crucial to avoid penalties and remain abreast of evolving tax regulations. Our services encompass advisory support to facilitate comprehension of the applicability of CT laws, timely updates on CT law amendments, and obtaining clarifications and advance tax rulings from the Federal Tax Authority (FTA) on your behalf. We assist with registering Corporate Tax with the FTA, prepare and file your initial corporate tax return and supporting schedules, and, if applicable, aid in the preparation of the CbCr notification and report for the same financial year.
At Standard Auditors, we are dedicated to empowering businesses to extract maximum value by optimizing their corporate tax strategies. With our comprehensive range of services and a proficient team of tax professionals, you can confidently navigate the intricacies of UAE CT Law, ensuring compliance and propelling your enterprise towards enduring success.
Contact us today to explore how our tailored solutions can elevate your corporate tax efficiency.