Corporate tax assessment

At Foster Chapman, we offer expert Corporate Tax impact assessment services in the UAE, ensuring businesses remain compliant with tax regulations. We use a structured approach when evaluating the effects of Corporate Tax on your business, and help to implement any necessary changes when needed.

Why choose Foster Chapman

Our team of skilled Corporate Tax specialists effectively conduct impact assessments to ensure tax compliance, analyse the impact it will have on your business, highlight all of the document requirements and meet your compliance needs, enabling any business to make informed tax decisions.
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The assessment process can be divided into three main stages:

  • Impact Assessment
  • Document Assessment
  • Tax Compliance Assessment

The overall Corporate Tax Impact Assessment evaluates the likelihood for a company’s financial performance to be affected by the new tax laws and regulations.

This involves:

  • Analysing the tax position of your company
  • Identifying tax risks
  • Optimising your tax efficiency

We are here to help you make informed tax planning decisions and ensure compliance with all the complicated tax laws. Understanding the impact of Corporate Tax on your business before implementation is crucial, minimising any tax liabilities and ensuring a smooth and compliant transition to the new tax regime in the UAE.

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Key aspects of Corporate Tax impact assessment in the UAE

Tax Compliance – Assessing the company’s adherence to UAE tax laws, including its timely submission of tax returns.

Tax Planning – Identifying strategies to get the most out of any tax benefits and to make sure any tax liabilities are as reduced as possible.

Pricing Transfer – Ensuring that the company’s transfer pricing policies comply with UAE tax laws.

Business Structures – Reviewing the company and suggesting necessary changes to better suit the new tax laws.

Tax Qualifications – Checking the company’s qualification for tax incentives or exemptions.

Considerations of International Tax – Examining how your company is impacted by international transactions and that it is applying to all the tax laws and regulations internationally.

Document Assessment for Corporate Tax in the UAE

You must maintain financial records to comply with any documentation requirements. If you don’t you could face some serious penalties, so make sure you are preserving those documents.

Corporate Tax Compliance Assessment

It is pivotal that your self-assessment is accurate and complies with any tax laws, as the FTA might review submitted returns in any specific period.
You have a right to appeal and can seek to amend any tax assessments issued by the FTA. The procedure for contesting assessments will be detailed in forthcoming regulations.

Self-Assessment and FTA Tax Clarification

If you are seeking clarification on any tax preparation, be sure to utilise the FTA portal. You can request clarification from the FTA, operating similarly to the Value Added Tax (VAT) clarification process.

Foster Chapman can help you avoid any of this confusion by implementing the best practices regarding Corporate Tax law from the start. Explore how our Corporate Tax Impact Assessment services can help your business stay compliant and optimise its tax strategy in the UAE.

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