TAX CONSULTANCY
SERVICES IN DUBAI,
ABU DHABI & THE UAE
We offer a full suite of tax services that can address the challenges faced by organistations following the introduction of new tax regulations across the GCC. We ensure that businesses remain in line with the taxation requirements within the UAE, KSA and the wider GCC region.
We have extensive experience in advising and assisting companies from public corporations to family-owned entities, including a full scope of tax structuring, direct and indirect tax capabilities across the GCC.
Our tax experts are all trained from “Big 4” practices and are able to provide our clients with an integrated range of services. Combining our cross-border transaction experience and local tax knowledge, we can provide our clients with innovative, reliable and comprehensive tax services.
With our international reach long-standing relationships with correspondent firms, we have the ability to offer tax advice worldwide.
TAX TYPE & RATES PER COUNTRY WITHIN THE GCC
| UAE | KSA | Bahrain | Oman | Qatar | Kuwait | |
|---|---|---|---|---|---|---|
| Corporate tax | 9% (note 1) | 20% (note 2) | 15% | 10% | 15% | |
| Capital gains | 20% | 15% | 10% | 15% | ||
| Withholding tax | 5-20% | 10% | 5% | (note 3) | ||
| Transfer pricing | (note 4) | |||||
| Thin capitalisation | ||||||
| Country-by-country reporting | Expected | |||||
| Economic substance regulations | ||||||
| VAT | 5% | 15% | 10% | 5% | Expected | Expected |
| Customs duties | 5% | 5% | 5% | 5% | 5% | 5% |
| Excise tax | 50-100% | 50-100% | 50-100% | 50-100% | 50-100% | Expected |
| Social Security Contributions | ||||||
| Real estate tax | 5% |
- Controlled foreign company rules
- General anti-avoidance rules (GAAR)
- Personal income tax
- Inheritance tax
- Transfer tax
- Stamp duty
Note:
- Tax is currently only enforced in respect of corporate entities engaged in the production of oil and gas or the extraction of other natural resources in the UAE. In addition, branches of foreign banks (under separate banking tax decrees) are subject to taxation in certain Emirates. With effect from 1 June 2023, corporate rate at standard tax rate of 9% will be applied to all mainland business and commercial activities on taxable profits above AED 375,000.
- Zakat at 2.5% is levied on the higher of adjusted net profits or adjusted net asset value attributable to the company’s Saudi or GCC shareholders.
- Payments to foreign suppliers/service providers are subject to 5% retention, which tax is released once the foreign recipient produces a Tax Clearance Certificate from the Kuwait Tax Authorities.
- Transactions between related parties must be valued at arm’s length. There is no specific guidance on acceptable methods for determining an arm’s-length price.
