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This blog provides insights into corporate tax assessment and implementation in the UAE. It explains the process of corporate tax assessment, including how the tax liability is determined, and discusses the implementation of corporate tax laws in the UAE. The blog covers the penalties for non-compliance with corporate tax laws and provides guidance on how businesses can ensure they are in compliance. Overall, the blog aims to help businesses understand the process of corporate tax assessment and implementation in the UAE and ensure they are meeting their tax obligations.

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The ministry has published the Corporate Law that will be effective from June 01, 2023 onwards. The applicability of the Corporate law to your business will depend on the chosen financial year.  

Now the time has come for businesses to tick off a few essential exercises to identify gaps in the business, make changes and fulfill the requirements. The vital exercises to follow during this process are:

  •   Conducting tax assessments

  •   Adjusting policies and procedures

  •   Implementing recommendations made by a Tax Consultant

What is Corporate Tax Assessment?

Corporate Tax Assessment deals with the business's aspects on legal rules and requirements. The nature of posing high risk of Tax Assessments is worthy to be highlighted. Thus, it is essential for the tax consultants in Dubai or internal business accounting and tax teams to conduct a comprehensive study of the business model and the operations/policies to identify two things:

  • The impact on United Arab Emirates Corporate Tax (UAECT)

  • Measures that should be taken to improve and optimize tax liability and   compliance

How will we help?

INSPIRE will alleviate the high risk you have with handling UAECT. Our professional tax experts will research and customize a particular plan after the initial screening process of the business. We could help with:

  • Consultation and high-level engagement

  • Detail analysis and impact analysis

  • Implementation and realignment

  • Tax advisory and partnering

Assessment Process:

 Let us explain our assessment process in 2 steps.

1.    Assessment and identification:

a)   Organization

First, in the organization context: legal/group/capital structure and tax implications; legal personalities; operating model studies will be assessed. Then, restructuring and optimization opportunities will be identified.


b)   People and Processes:

Through people assessment and identification, related parties' identification and impact will be analyzed. Under the processes: pricing rule policies analysis; accounting system study and readiness; existing tax functions (local and foreign tax presence) and financial statements will be handled.

•       Financial statements analysis will consist of,

-       Sales Categorization

-       Expenses Categorization

-       Entity Bottomline Analysis and Losses

-       Gains and Losses Study

-       Investment and Participation Analysis

-       Capital and Revenue Positions (TP/AL Impacts on Opening BS)

-       BS Analysis

-       Deferred Tax Analysis

-       Payroll Structure and Owners' Compensation Study

2.    Implementation and Advisory:

Corporate Tax (CT) registration; CT group creation and application; preparation and filing Tax Returns and providing ongoing advisory will be handled through the second phase.

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