❌
Dear Abdul Shakoor,
Thanks for using ASK management tax calculator. Please be reminded that the calculator is for informational purposes only and may not cover all the circumstances relevant to you. You are therefore advised to obtain qualified opinion in respect of your tax liability. The use of calculator does not create any liability on ASK management consultants or its employees.
Tax Computation
Your Tax year is:
Your first Tax return is due on:
Description
A m o u n t
Total Accounting Income
7,000,000
Adjustments:
Add back unrelaised gains
7,000,000
Add Property Income
7,000,000
Exempt capital gains or foreign income
7,000,000
Domestic dividends
7,000,000
Add back surplus interest expense
7,000,000
Entertainment Expenditure
7,000,000
Not wholy or fully Business expense
7,000,000
Transfer pricing adjustment
7,000,000
Adjusted Profit
7,000,000
Unincorporated Partnership
7,000,000
Less: Carry forward tax loss
7,000,000
Taxable Income
7,000,000
First 375,000
7,000,000
Remaining Income
7,000,000
Tax Liability @9%
7,000,000
Other Matters
You may elect below (where relevant to you):
- Benefit from small business relief if your annual turnover is below AED 3,000,000 in current year and previous years
- Exempt Foreign permanat establishmnet Income
- Account for gain and losses on realisation basis
- Be subject to Corporate tax if you are a Qualifying Free Zone person
- Apply relief in relation to transfer of qualifying assets
- Apply busines restructuring relief
- Apply transitionla relief
You may make below applications to FTA
- To be exempt from Corporate Tax, if the Person is a public pension fund or a public social security fund, a private pension fund or a private social security fund that meet the relevant conditions, or a Qualifying Investment Fund
- To be exempt from Corporate Tax, if they are a juridical person that is wholly owned and controlled by certain types of Exempt Persons387 and meet the relevant condition (e.g. used exclusively for holding assets or investing funds for the benefit of the Exempt Person)
- To continue to be exempt from Corporate Tax if the Person temporarily fails to meet the conditions of exemption;
- To treat a Government Entity’s taxable Businesses as a single Taxable Person;
- To treat an Unincorporated Partnership as a single Taxable Person
- To treat a Family Foundation as an Unincorporated Partnership
- To request a clarification from the FTA
- To request a refund from the FTA
- To adjust Taxable Income following an adjustment by a foreign tax authority
- To move from the Cash Basis of Accounting to Accrual Basis of Accounting
- To form, join or leave a Tax Group, replace a Parent Company in a Tax Group, or cease to be a Tax Group
- To deregister for Corporate Tax
- To change their Tax Period