Yes, offshore companies in the UAE are now subject to Corporate Tax (CT).
Previously, there was a common misconception that offshore companies were exempt from UAE taxes. However, this is no longer the case.
Key points:
* Corporate Tax Registration: All offshore companies operating in the UAE must register for Corporate Tax, regardless of their income level.
* Tax Rate: The standard corporate tax rate is 9%. However, there are provisions for a 0% tax rate for qualifying Free Zone companies.
* Federal Tax Authority (FTA): The registration and filing of tax returns are managed through the FTA.
Important Note:
While offshore companies are subject to Corporate Tax, the specific tax implications can vary depending on the company’s activities and location. It’s essential to consult with a tax professional to understand your company’s particular situation.