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Description
Corporate tax implementation in the UAE has moved beyond basic registration. Many businesses that have already registered with the Federal Tax Authority are now facing challenges at the pre filing stage, particularly around how taxable income is actually determined under Federal Decree Law No. 47 of 2022.
Common issues currently seen across Dubai based companies include:
Financial statements not adjusted for UAE corporate tax requirements
Uncertainty around qualifying vs non qualifying income for free zone entities
Related party transactions not aligned with arm’s length principle
Lack of supporting documentation for expenses and revenue recognition
No structured approach for upcoming corporate tax return filing
These are compliance gaps, not just accounting issues, and may lead to incorrect filings or future review exposure.
Businesses in such situations usually opt for an independent review before submission. Firms like BSD Prime Services assist in reviewing financial data, identifying required tax adjustments, and ensuring alignment with current UAE regulations.
Support may include:
Assessment of taxable income as per UAE corporate tax law
Review of free zone eligibility conditions
Identification of disallowed or high risk expense categories
Preparation for corporate tax return submission
Documentation readiness in line with Federal Tax Authority expectations
This is particularly relevant for businesses preparing for their first corporate tax filing cycle in UAE.
Early review helps avoid last minute corrections, delays, or penalties.
📞 +971 50 710 3139 , www.primeservicesdubai.com
Common issues currently seen across Dubai based companies include:
Financial statements not adjusted for UAE corporate tax requirements
Uncertainty around qualifying vs non qualifying income for free zone entities
Related party transactions not aligned with arm’s length principle
Lack of supporting documentation for expenses and revenue recognition
No structured approach for upcoming corporate tax return filing
These are compliance gaps, not just accounting issues, and may lead to incorrect filings or future review exposure.
Businesses in such situations usually opt for an independent review before submission. Firms like BSD Prime Services assist in reviewing financial data, identifying required tax adjustments, and ensuring alignment with current UAE regulations.
Support may include:
Assessment of taxable income as per UAE corporate tax law
Review of free zone eligibility conditions
Identification of disallowed or high risk expense categories
Preparation for corporate tax return submission
Documentation readiness in line with Federal Tax Authority expectations
This is particularly relevant for businesses preparing for their first corporate tax filing cycle in UAE.
Early review helps avoid last minute corrections, delays, or penalties.
📞 +971 50 710 3139 , www.primeservicesdubai.com
Location
Dubai, Sharjah