Spectrum

  Corporate tax in UAE – An Overview Gives you an overview about what is Corporate Tax in UAE (CT), why it is introduced, implementation etc. Corporate tax in UAE - Scope & Rate Discusses about who is going to be taxed, what types of businesses are considered, where does an individual stand, CT on sales or profit, rates, commercial license, real estate, investment returns, bank deposits, calculating CT, who is exempt etc. Corporate tax in UAE – Income exempt, foreign person, free zones info Briefs about types of incomes exempt from CT, status of foreign company or individual in terms of CT, where does Free Zones stand etc. Corporate tax in UAE – Industry Sectors, Losses, Tax Groups, Withholding Tax, Tax Credits, Transfer Pricing, Administration Detailed Q & A about industry sectors subject to CT, are business losses considered, status of tax group , about withholding tax, tax credit claim, transfer pricing rules, how to go about registration etc. Further information on the ...

  Whether you’re a novice in the business industry or you’re an established business owner, it’s a wise idea to hire a Tax Agency Dubai , especially with the new regulations on corporate income tax laws that are going to be introduced in Dubai, UAE. It is one of the best ways to solve tax complications by getting your business assessed to understand the impact of the Corporate Income tax in UAE , plan the required changes in your business or structure of the organization and get profitable results for your business. Remember, income tax, corporate tax, and   corporate tax on profit in UAE   are the trickiest parts of your business once the law comes into implementation. This is where hiring a top income tax agency like Spectrum Auditing comes into play. Handling legal tax issues is not easy and it’s vital to have experts by your side. Here are a few things that Spectrum Auditing and Spectrum Tax Agency can help you with. UAE Corporate Tax impact assessment of the business...

  What is the Tax Credit that will be available for the corporate tax paid in other countries on the taxable income in UAE under the UAE Corporate Tax regime? Can we carry forward the unutilized Tax Credit to next year? UAE resident companies will be subject to  Corporate tax in Dubai  on their worldwide income, which includes foreign sourced income that may have been subject to tax of a similar nature to CT by another country. To avoid double taxation, the UAE CT regime will allow a credit for the tax paid in a foreign jurisdiction against the  Corporate tax in Dubai  liability on the foreign sourced income that has not been otherwise exempted. This is known as “Foreign Tax Credit”. The maximum Foreign Tax Credit available will be the lower of: The amount of tax that is paid in the foreign jurisdiction; or The Corporate tax in UAE  payable on the foreign sourced income. Any unutilized Foreign Tax Credit will not be able to be carried forward or back to oth...

 Tax Group – Requirements To Form A Tax Group And More Under UAE Corporate Tax Why Tax Groups are required and what happens of a tax group is formed under UAE Corporate Tax Regime? This section sets out the proposed UAE CT treatment applying to groups of companies. Large businesses often conduct their operations through a group of companies, which has a parent company and a number of subsidiaries. These group structures are generally formed to limit or ring fence liabilities associated with certain activities, and facilitate the reporting and management of different business lines. Operating through a Tax group of companies can increase the overall tax compliance cost where each entity needs to report their taxable income on a stand-alone basis, and can result in a higher effective tax rate for the group where some companies are profit making and others make losses. To address the above concerns, the Corporate tax in Dubai regime will allow full consolidation for tax purposes (tax gr...

Tax On Income From Immovable Property And Business Profits Under DTAA Between United Arab Emirates And India What is the purpose of having an Agreement for Avoidance of Double Taxation and Prevention of Fiscal Evasion with UAE by India (DTAA) between UAE and India? In the Present Era of cross border transactions across the globe, the effect of Taxation is one of the important considerations for any Trade and Investment decisions in another countries. Where a taxpayer is resident in one country and but has source of income situated in another country, it gives rise to possible double taxation. DTAA lays down rules for taxation of the income by the Source country and the residence country. The Provisions of DTAA are compared with domestic law, assessee can opt for anyone which is beneficial to him. Taxes Covered This agreement applies on the following existing taxes: Income Tax, Corporation Tax and Wealth Tax Agency in UAE Income Tax and Wealth Tax in India Elimination of Double Taxatio...

Dubai is one of the wealthiest emirates in the UAE and it's no wonder that there are many high-quality Auditing Firms in Dubai . While picking an auditing firm can be a daunting task, Spectrum Auditing can help you choose the best option for your business.  Spectrum Auditing offers a spectrum of services, including bookkeeping and financial statement audits. They also have years of experience providing audit services to small businesses and startups in Dubai. What is auditing and what does it involve? Auditing Services in Dubai  is the process of examining the accuracy and completeness of financial statements. Auditors are independent professionals who scrutinize these statements to ensure that they present an accurate and fair picture of a company’s finances. They may also perform other audits, such as reviews of internal controls.  The Institute of Chartered Accountants in England and Wales (ICAEW) offers auditing certificates to individuals who have completed an accre...