In a pioneering move, Farahat & Co a well establish tax and audit firm introduced its latest offering: the UAE Corporate Tax Calculator. This online tool aims to simplify tax estimates for businesses operating in the United Arab Emirates (UAE). With a range of features, the calculator is set to revolutionize tax planning for companies in the UAE.
Corporate tax calculator
The Corporate Tax Calculator takes into account crucial factors like a company's profit or loss before expenses. Users can conveniently input their business turnover amount in AED, and deducting direct expenses from the turnover, the calculator accurately calculates the taxable profit. Businesses can deduct allowed expenses, such as salaries, travel expenses, and accounting fees, to arrive at the net taxable income. On the flip side, disallowed expenses like business entertainment (limited to 50%), depreciation, interest expenditure exceeding specified limits, and recoverable taxes, such as foreign tax paid or withholding tax, can be added back to the net taxable income.
Calculate corporate tax payable in the UAE
The UAE Corporate Tax Calculator doesn't stop at net taxable income—it goes the extra mile by determining the estimated corporate tax payable. Applying a 0% tax rate on the first 375,000 AED and a 9% tax rate on the remaining balance, the calculator provides businesses with a comprehensive view of their tax liabilities. With this tool, companies can effortlessly calculate their total gross corporate tax payable.
The tool's user-friendly interface and comprehensive features empower companies to estimate their corporate taxes. This newfound clarity enables businesses to make well-informed decisions, aligning with the evolving tax regulations in the UAE. The calculator will be a game-changer for micro and small businesses, helping them optimize their tax planning strategies and enhance overall financial efficiency.
A trusted source for corporate tax information in the UAE
Farahat & Co is a reputed company renowned for providing reliable and up-to-date information on corporate tax matters. Their commitment to staying abreast of the latest UAE tax regulations makes them a trusted resource for businesses navigating the complexities of corporate taxation in the region.
