It is crucial for all taxable entities to assess the impact of corporate tax on their business operations to navigate related obligations effectively.
At BDO UAE, we conduct impact assessments using a phased approach, covering the following key aspects:
- Impact Analysis
- Perform quantitative analysis to evaluate the potential financial impact of UAE Corporate Tax (CT) on the business.
- Conduct qualitative and quantitative analysis to determine the estimated CT liabilities.
- Identify restructuring and optimization opportunities.
- Provide recommendations and outline the next steps.
- Implementation of Corporate Tax
- Assist in adjusting legal and organizational structures for CT optimization.
- Support the application for CT group registrations and exemptions.
- Help in obtaining private clarifications.
- Update generic tax manuals and governance frameworks.
- Recommend necessary ERP system changes and provide assistance with updates.
- Conduct training sessions to educate teams on the new corporate tax framework.
- Assessment of Natural Person’s Taxation in the UAE
- Evaluate the applicability of UAE CT on naturals person based on business/es conducted in the UAE through a sole establishment license.
- Assess the tax residency status and provide guidance on obtaining tax residency certificate from the Federal Tax Authority.