Corporate Tax Advisory
Corporate Tax Advisory Services
Philip & Prabhu Consulting LLC is a tax consultancy firm based in the UAE. We specialize in providing comprehensive guidance on various tax matters, including the newly introduced Corporate Tax in the UAE.
The UAE Ministry of Finance recently implemented a Corporate Tax on business profits, effective June 1, 2023. This tax reform aims to promote small and medium enterprises by establishing an introductory statutory tax rate of 9% on corporate profits exceeding AED 375,000 ($102,000). It is important for companies to comply with the corporate tax regulations, which include filing annual tax returns and maintaining proper accounting records in accordance with relevant laws and regulations.
Corporate Tax Advisory
The introduction of the Corporate Tax in the UAE is part of the country's strategic goals to expedite its growth and transition. By offering a competitive corporate tax structure that aligns with international norms and taking advantage of the UAE's extensive network of double tax treaties, the aim is to solidify the UAE's position as a prime destination for business and investment. The UAE Corporate Tax Code draws on global best practices and incorporates well-recognized and respected concepts. Consequently, the law is designed to be clear in its implications and easily understandable.
At Philip & Prabhu Consulting LLC, we are dedicated to assisting businesses in navigating the complexities of the UAE's Corporate Tax system. Our team of experts can provide comprehensive advice on tax planning, compliance, and optimizing tax strategies to ensure your business remains in full adherence to the law while minimizing tax liabilities. We stay up-to-date with the latest developments in tax regulations to offer our clients accurate and reliable guidance. Contact us today to learn more about how we can assist you with your corporate tax requirements in the UAE.
At Philip & Prabhu Consulting LLC, we are dedicated to assisting businesses in navigating the complexities of the UAE's Corporate Tax system. Our team of experts can provide comprehensive advice on tax planning, compliance, and optimizing tax strategies to ensure your business remains in full adherence to the law while minimizing tax liabilities. We stay up-to-date with the latest developments in tax regulations to offer our clients accurate and reliable guidance. Contact us today to learn more about how we can assist you with your corporate tax requirements in the UAE.