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About Us

ZYN Consultancy is a global network of firms operating in the UK, KSA, UAE, Bahrain, and Pakistan — with expansion plans to Switzerland, Canada, and Australia. We deliver assurance, tax, and financial advisory services backed by world-class resources and decades of expertise.

Contact Info

  • Office no. 2104, Citadel Tower, Business Bay, Dubai, UAE
  • 0508405570
  • info@zynconsultancy.com
  • Sunday: Closed

Taxation - zynconsultancy.com

The Corporate Tax is a direct tax applied on the net income or profit of corporations and businesses.

The UAE Ministry of Finance announced the establishment of a federal corporate tax effective for fiscal years starting off on or after 1 June 2023 on 31 January 2022.
In general, these taxes are estimated based on the accounting net profit/income of a corporation after adjusting for specific items as prescribed by UAE Corporate Tax decree law.

What is Corporate Tax?

In the extremely complex fields of Corporate Tax reporting, tax authority compliance, and tax planning, in-house tax departments frequently face the problem of adapting to ever-changing regulations. Our seasoned professionals with industry and Corporate Tax expertise can enhance your organization’s professionals to enable a smooth transition to the newly implemented Corporate Tax in the UAE.
Both our clients and our peers respect our experience, efficiency, attention to detail, and exceptional service.
Whether your organization is a start-up or a large, well-established enterprise, our team of professionals will utilize their years of tax knowledge and resources to assist you identifying risk areas and provide solutions to manage financial risk and tax compliance exposures.

Rates of Corporate Income Tax in the UAE

According to the UAE Ministry of Finance, the following are the Corporate Income Tax rates:
0% CIT for income up to AED 375,000 that are taxable.
9% CIT on income above AED 375,000.
Large corporations that meet the specific conditions connected to Pillar Two of the OECD Base Erosion & Profit-Sharing Project will be subject to a different tax rate.

Why Do You Need Corporate Tax Experts?

  1. Improved accuracy and reliability of financial statements
  2. Increased transparency and accountability of a company’s financial performance
  3. Detection and prevention of fraud or mismanagement
  4. Compliance with legal and regulatory requirements
  5. Enhanced credibility and confidence among stakeholders, including investors, creditors, and regulatory authorities
  6. Improved internal controls and risk management practices
  7. Identification of areas for improvement in financial reporting and business processes.

Corporate Tax Service

Our Corporate Tax team aids businesses in achieving tax compliance obligations by providing various services, such as:

  1.  
  2. Corporate tax assessment
  3. Corporate tax Implementation
  4. General Compliance Service
  5. Corporate Tax Registration
  6. Calculation of taxes payable
  7. Preparation of Corporate Tax returns and other tax reporting documents.
  8. Review of the tax return prepared by the organization.
  9. Assistance with correspondence with the tax authorities if the authorities have raised questions.
  10. Coordinating with authorities to resolve potential tax disputes

Four-step Action Plan for UAE Corporate Tax Services

Impact Evaluation
  • Conduct an initial evaluation of the anticipated impact of the outline of the UAE Corporate Tax Law on existing operations.
  • Conduct a system analysis to identify data gaps necessary for compliance with UAE Corporate Tax.
Comprehensive Analysis
  1. Identify significant impact areas resulting from the implementation of Corporate Tax.
  2. Determine ambiguous positions and critical decision points
  3. Determine reorganization and optimization.
  4. Possibilities for your legal framework or business operations to reduce administrative complications.
  5. Perform a gap analysis to determine what system modifications are necessary to meet financial information and compliance needs.
Implementation
  1. Modify legal contracts and other agreements.
  2. Analyze revenue and operations, and adopt transfer pricing policies and documentation as necessary.
  3. Make modifications to the legal structure.
  4. Revise SOPs in light of the corporation tax laws and regulations.
  5. Change business application software.
  6. Assessment for Corporate Tax Group Registration and Exemption.
  7. Obtain clarifications and tax judgments in advance.
  8. Perform a transfer pricing risk and opportunity analysis to determine the necessary improvements to the transfer pricing policy.
Post-Implementation
  1. Tax registrations for corporations
  2. Apply for tax exemptions and tax groups
  3. Submit CT returns.
  4. Prepare transfer pricing documentation.
  5. Tax processing.
Frequently Asked Questions

Why Choose ZYN's

Expertise and Experience

At ZYN’s Accounting and Tax Consulting LLC, our team consists of highly skilled professionals with extensive experience in managing complex regulatory and accounting standards. We are proficient in both local and international regulations, ensuring our services are accurate and fully compliant.

Tailored Solutions

Recognizing the unique nature of each Business, we offer customizable services designed to align with your specific needs and business objectives. We collaborate closely with you to understand your requirements and deliver solutions that achieve optimal results.

Time and Cost Efficiency

By choosing our services, you benefit from significant savings in time and resources. Our solutions are engineered to be cost-effective, providing high-quality support without the need for substantial internal investment.

Accuracy and Compliance

We prioritize accuracy and compliance in every aspect of our service.Our meticulous approach and rigorous procedures ensure precision and adherence to standards, reducing the risk of errors and the potential for non-compliance penalties.

 

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