AUDIT & ASSURANCE
Our Audit firm offers a complete range of Audit and Assurance services to meet the business needs of client…,
TAXATION SERVICE
Tax Experts at ASP Auditing possess strong expertise in VAT impact analysis and VAT implementation capability.
BOOK KEEPING
The Significance of maintenance of proper books of accounts and adherance to the legal requirements of Book Keeping has increased…,
BUSINESS CONSULTANCY
All aspects of the company’s’ financial operations and treasury management is taken care of and accurate financial reports are provided for decision…,
TECHNOLOGY ADVISORY
We offer customized support and guidance in the field of IT support for the purposes of upgrading their existing software as well as implementation..,
COMPANY INCORPORATION
UAE offers a wide range of options for business to establish and grow internationally as it offers limitless business opportunities to companies all over the world.
MERGERS & ACQUISITION
Performing M&A tax due diligence reviewing tax provisions in acquisition agreements providing tax planning solutions in both the pre and post-merger periods.
BUSINESS RESTRUCTURING
In this highly competitive global business scenario, striving to efficiency and reducing working capital are the main things to sustain. We at ASPA give the best solutions
ACCREDITATION
Effective From: 1st June 2023
Authority: The Finance Ministry in the UAE announced the introduction of Corporate Income Tax on 31 January 2022.
The UAE is a member of the OECD Inclusive Framework on Base Erosion and Profit Shifting (“BEPS”) and hence committed to meeting the International Standards for tax transparency and preventing harmful tax practices.
Applicability:
- Applicable to all UAE businesses / Commercial activities
Individuals would be subject to Corporate Tax only if they have ongoing and regular business in UAE.
Non Applicability:
- Individuals having income from salary/employment income shall not be subject to Corporate Tax. Also, dividends, capital gains and other income from owning shares/securities earned by Individuals in their capacity would not be subject to Corporate Tax.
- Passive income of foreign investors i.e. dividends, capital gains, interest, royalties and other investment returns may not come under the purview of Corporate Tax.
Corporate Tax Rates:
| Income | Rate of Tax |
|---|---|
| Taxable income up to AED 375,000 | 0% |
| Taxable income above AED 375,000 | 9% (on portion of taxable income exceeding AED 375,000) |
| For large Multinationals (having consolidated business revenues in excess of EUR 750 Million/ AED 3.1 Billion) | A different Tax Rate. (As per the Guideline from OECD- Pillar 2 it will be minimum 15%) |
Why ASP?
- Reliability
- Professional Ethics
- Confidentiality
- Total Assurance
- Assignments led by an engagement partner or director
