The Importance of Corporate Tax Return Filing
Corporate tax return filing service is essential for all businesses. In the UAE, all entities that meet the specified criteria and thresholds for taxable profits are required to register for corporate tax.
It is important to file corporate tax returns in time in order to avoid corporate tax fines and penalties. The Federal Tax Authority (FTA) has clearly defined guidelines to file tax returns. Businesses must maintain their records of income and expenses accurately as per standards. Failure to comply with FTA guidelines will result in fines and potential prosecution. A business must file a corporate tax return within nine months at the end of the relevant tax period.
How to File Corporate Tax Returns with Alpha Auditing?
A step by Step Guide on Corporate Tax Return Filing in UAE
FTA has provided guidelines for the business on how to file a corporate tax return using FTA’s online portal. As a business if you are seeking professional assistance to maintain and file your corporate tax, Alpha Auditing can help you maintain corporate tax compliance and provide a hassle free tax return filing service. As a leading auditing and accounting firm we offer comprehensive tax consultancy services.
How Alpha Auditing helps you file corporate tax returns on time?
1. Ensuring Accurate Documentation
A team of experienced and expert tax professionals at Alpha Auditing understand the corporate tax laws thoroughly. We help businesses maintain their financial records efficiently and prepare the required documents for corporate tax returns filing. Check out the list of essential documents required for Corporate tax registration.
2. Precise Tax Calculation
Calculating the tax accurately is critical for filing corporate tax returns. Our tax experts calculate corporate tax based on your financial statements and accounts of your business and make sure there are no errors in tax returns.
3. Compliance with UAE Corporate Tax Laws
To avoid corporate tax fines and penalties in the UAE, it is important to file corporate tax returns as per FTA regulations. Our tax professionals help you maintain compliance.
4. Reducing Tax Liability
An important aspect of business is to optimize tax. Alpha Auditing experts understand the in and out of tax regulations. Based on exemptions and deductions, we help you reduce your business’s tax liability.
5. Timely Filing of Tax Returns
Time is a critical factor in corporate tax return filing to avoid fines and penalties. Following the proactive approach our team prepares all the essential documents beforehand and ensures to file corporate tax returns on time.
6. Effective Tax Planning
Our aim is to define a tax framework in order to streamline the process and ensure compliance which results in simplifying the tax return filing process.
7. Corporate Tax Training and Compliance
We offer corporate tax training for your employees to provide them understanding the new corporate tax laws in the UAE. Our training structure will help you prepare for compliance.
How Alpha Auditing Supports You Through the Corporate Tax Filing Process
Alpha Auditing’s team of tax consultants offers full support throughout the corporate tax filing process. Here’s how we guide you step by step:
1. Corporate Tax Registration
Our experts guide you through the online registration process for corporate tax using the FTA’s EmaraTax platform, ensuring seamless compliance with the new tax regime.
2. Maintain Records
An important aspect of business is to maintain records. Our team help you maintain essential records including:
- Financial statements
- Transfer pricing records
- Calculations of taxable income
- Documentation for applicable exemptions and provisions
3. Corporate tax Return Preparation
We provide complete assistance in terms of organizing and preparing all the required tax documents. We perform accurate calculations and Alpha Auditing helps organize and prepare all the relevant tax documents.
4. Filing Corporate Tax Returns
Our professional approach allows us to prepare all the documents beforehand and calculate tax accurately. This helps you file corporate tax returns on time with errors.
5. Tax Payment Assistance
After completion of tax return filing, we make sure that all the necessary tax payments are made on time.
Alpha Auditing: Your Trusted Corporate Tax Advisor in the UAE
Alpha Auditing is one of the leading accounting firms in the UAE, offering range of financial services. As an expert in tax, we provide comprehensive tax services which includes corporate tax, VAT and more. If you are looking for trusted corporate tax partner, contact Alpha Auditing now!
FAQs about Corporate Tax Return Filing
What is the corporate tax rate in the UAE?
Businesses having taxable income more than AED 375,000 are subject to 9% corporate tax.
Who is required to file corporate tax returns in the UAE?
Corporate tax applies to all UAE based companies which include entities operating in Free Zones, foreign companies with permanent establishment in UAE.
When Corporate Tax return filing is due?
Corporate tax returns are due at the end of a company’s financial year. It vary based on the fiscal year.
What documents are required for corporate tax return filing?
Documents required for corporate tax return filing includes financial statements, taxable income details, proof of transaction with other parties and transfer pricing documentation.
Are Free Zone companies subject to Corporate Tax?
Free zone companies that are qualified as free zones might benefit from a 0% tax rate on income, whereas non-qualifying companies are subject to 9% corporate tax.
What are the penalties for late return filing or failure to comply?
Late corporate tax return filing will results in fines and penalties defined by FTA. Lear more about corporate tax fines and penalties.