Corporate Tax & Accounting for SHAMS Companies

Companies in SHAMS must comply with UAE Corporate Tax, VAT and accounting rules just like any other business — and getting the free zone tax position right is especially important. SHAMS is Sharjah Media City, a low-cost free zone popular with media, creative, consultancy and freelance businesses. Safeway is an FTA-approved tax agent in Ajman that works with SHAMS companies on registration, returns, accounting and audit-ready financial statements across the UAE.

Corporate Tax for SHAMS companies

Every SHAMS company must register for Corporate Tax, even if it expects to pay 0% as a Qualifying Free Zone Person (QFZP). The 0% rate applies only to qualifying income and only where the conditions are met — including earning qualifying income, maintaining adequate substance, meeting the arm's length and transfer pricing rules, and keeping audited financial statements. Income that does not qualify is taxed at 9%. We assess your QFZP status and help you keep it.

VAT and accounting in SHAMS

SHAMS companies within the scope of VAT must register, charge VAT correctly and file returns, and some designated zones have special rules for goods. Keeping proper accounts is still required for VAT and Corporate Tax even where audit is not mandatory for renewal. We keep your books clean and your returns accurate.

How Safeway helps SHAMS businesses

• Corporate Tax registration and QFZP status review
• VAT registration and quarterly return filing
• Bookkeeping and IFRS financial statements, prepared audit-ready
• Transfer pricing documentation where required
• Liaison with licensed auditors for renewal and Corporate Tax

Contact us for a tax and accounting review of your SHAMS company.

Frequently asked questions

Do SHAMS companies pay Corporate Tax?

SHAMS companies must register for Corporate Tax. A Qualifying Free Zone Person can pay 0% on qualifying income where all conditions are met, and 9% on income that does not qualify. Registration is mandatory regardless.

Do SHAMS companies need audited financial statements?

Keeping proper accounts is still required for VAT and Corporate Tax even where audit is not mandatory for renewal. Audited statements are also required under Corporate Tax for every Qualifying Free Zone Person, regardless of revenue.

Can Safeway act for my SHAMS company from Ajman?

Yes. Tax registration and filing are handled through the FTA's EmaraTax portal, so we act for SHAMS companies across the UAE.

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