What We Do
From June 2023 On October 08, 2021, the UAE announced to implementation and reform of its national Tax Framework and introduce Corporate Tax with a minimum rate of 9% from June 01, 2023. Therefore, First Financial Tax Year for corporates in UAE will be from June 01, 2023, to May 31, 2024.
Corporate Tax in UAE is defined as a direct tax levied at the business’s net profits. As we advance, businesses in UAE could be required to evaluate the effect of the approaching guidelines to their commercial enterprise and adoptvital compliance requirements. On this note, the UAE Tax Authorities have already said that non-compliance will translate to crippling penalties.
At Madina Accountants, our humble & supportiveprofessionalsallow space and techniques to take care of corporate tax compliance as well as structure the accounting in such a way that businesses do not have to pay unnecessary tax figures that suppose to be saved.
Corporate Tax Rates for the Business will be calculated under the following rules:
1 – Taxable Net Income up to AED 375,000/- Corporate Tax Rate 0%
2 – Taxable Net Income more than AED 375,000/- Corporate Tax Rate 9%
In case of Multi-nationals with revenue globally exceeding Euro 750 million, the corporate tax rate may differ to greater rate. The exact rate that will be calculated on such large multinationals is still yet to be announced.
MAINLAND OR FREEZONE:
Whether business is a freezone establishment or a mainland company. The corporate tax is liable on all the establishments in the UAE. All UAE business is required to register and file the corporate tax return.
Accounting & Bookkepping does not require any more high-performance systems expense, certain security protocol costs, or even larger spaces for saving data cost.
Start-ups, entrepreneurs, organizations, or any other establishments appreciate simple solutions to complicate problems. Simple solutions and systems for accounting & bookkeeping are more than a dream come true. Truly cloud accounting software has covered it all as accounting solutions are now simple to understand and implement within an amazingly low cost.
Our team is expertly trained professionals and partners with cloud accounting software like QuickBooks, Sage, FreshBooks, Wave, Xero, Zoho, etc.
Our online and cloud-based systems are perfect for any business to successfully resolve all their accounting and bookkeeping needs.It’s not only the accounting we do. Business accounting & performance reporting is a default part of our complete services.
Our packages starting from $100 per month and we try to keep the best possible cost-effective plan with maximum benefits for any type of organization.
CFO is a strategic and advisory role that can help start-ups, SME’s, or any level of businesses to grow, expand, and sustain. Whether it is the decision making on investment analysis, fund management, risk management, or just the financial information dashboard. CFO not only assist but also plays an important role in making decisions implemented and successful.
Madina Accountants CFO team, we provide digital CFO flexible solutions from full time, part-time or customize vice versa with cost-effective packages making sure best value-added experience.
We specialize in start-ups solutions to enterprises with some of our highlights for the CFO role is financial reporting and analysis, cash flow management, performance trackers, budget analysis and cost variances, marketing, and risk management strategy and leadership.
Get in touch with us by booking a free appointment with our well-experienced CFO team.
Our experienced team of financial consultants will help companies to set up their payrolls & even, provide advisory to the management whenever needed.
Tax filing is a key element for business, any tiny mistake will disturb your financial results. Hence, our experienced team of taxation will help & guide you in a much more professional & transparent way.
Transparency is the most important element in transactions & we, Madina Accountants, make sure that the transparency shall not be compromised.
For any business, financial views from experts are way important than any other things. You, being as a Start-up or having an idea up to your sleeves, we can provide our best of expertise in defining the ROI of the business so that you can take up a call whether to go ahead with the plan or not.
We, during the course of time, never give importance to business advice. Thus, we fail badly the majority of the time in developing & sometimes, sustaining the business. Similarly, when it comes to financial advice, whether for a company or personal – we didn’t discuss much and due to this reason, we fail miserably & that’s incurred financial losses as well. Thus, get in touch with us by booking & let’s explore.
Even, we can help you to set up businesses around the globe. Whether it’s a tech setup or a restaurant or any other business setup, our expert team will there for you always.