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We provide professional and reliable assistance to help businesses comply with the complicated tax codes and regulations set by the UAE government.
Our team of experienced and certified accountants and tax specialists offer top-quality services that cater to your unique business needs. We can help you streamline your financial records and transactions to ensure accuracy and compliance with local laws and regulations. We are here to help you focus on growing your business while we take care of the tedious accounting tasks.
We specialize in preparing tax returns, financial statements, and other financial reports. We can also assist with payroll processing, bookkeeping, and budgeting. Our services are designed to save you time and money while ensuring that your business reacts to the latest accounting and tax standards.
We are confident in the quality of our services, which is why our clients trust us with their most critical financial matters. Our team uses the latest software and technology to ensure that our work is accurate and timely, so our clients can trust that their paperwork is in good hands.
Choosing our accounting and tax services means that we will be your partner in success.
We provide the following services:
- Preparation of tax accounting policy, adjustment of the accounting program system (together with representatives of the selected program)
- TRN Registration
- Registration/removal of excise tax
- Registration with the Federal Tax Service
- Tax reporting (on the basis of documents received from the customer. Checking the availability and correctness of the documents is not included)
- Accounting reporting (on the basis of documents received from the customer. Checking the availability and correctness of the documents is not included)
- Tax group formation
- Advice on tax optimization
- Internal audit reporting
- Confirmation of economic presence (Economic Substance)
- Company’s Accounting Recovery
- Audit opinion
Foundation of a company in the Free Zone
Renewing the license of a Free Zone company
Amendments to the license and charter of a Free zone company
Liquidation of a company in a Free zone
Obtaining additional permits for activities requiring permits from government agencies
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As a leading consulting company specializing in taxation and accounting services, we understand the complexities businesses and individuals face when navigating the UAE's financial landscape. In this article, we will shed light on the essential aspects of tax and accounting practices, providing valuable insights that will assist you in successfully handling your tax obligations and ensuring compliance.
As a leading consulting company specializing in taxation and accounting services, we understand the complexities businesses and individuals face when navigating the UAE's financial landscape.
Tax System in the UAE:
VAT
The UAE operates under a unique tax regime that offers a favorable environment for businesses. Historically known for its zero-tax policy, the UAE introduced a landmark tax reform in 2018, implementing the Value Added Tax (VAT) system. VAT is levied at a standard rate of 5%, with certain goods and services either exempted or subject to a zero rate. Our consulting team boasts an in-depth knowledge of VAT compliance, enabling clients to streamline their operations and alleviate associated burdens.
Who is exempt from paying VAT?
- qualified residents of the free zone (i.e. residents who meet certain legal requirements, including content and transfer pricing requirements) for "skilled" income (for example, income from transactions with companies outside the UAE).
Corporate tax
From June 2023, a new corporate tax law comes into force in the UAE, which introduces a corporate tax, as well as imposes a number of obligations (for example, to file tax returns) on all companies registered in the UAE, even if they are registered in free economic zones.
All companies are required to register for corporation tax and obtain a corporation tax registration number.
The corporate tax rate is 9% on taxable income in excess of AED 375,000.
The requirements apply to everyone, but some individuals may apply the 0 percent rate:
- in respect of taxable income not exceeding AED 375,000;
- qualified residents of the free zone (i.e. residents who comply with certain requirements established by law, including substance and transfer pricing requirements) in relation to “qualified” income (for example, income received from transactions with companies outside UAE).
Accounting Standards and Regulatory Compliance:
Maintaining accurate financial records is crucial for any business. The UAE's accounting standards align with the International Financial Reporting Standards (IFRS), ensuring a globally recognized framework for financial reporting. Our consulting experts possess an in-depth understanding of these standards, assisting clients in effectively managing their accounting functions and adhering to regulatory compliance.
Accounting Services Offered:
Our consulting company provides a wide range of accounting services tailored to meet the specific needs of our clients. These services include bookkeeping, financial statement preparation, budgeting, and cash flow management. By outsourcing these accounting functions, businesses can focus on their core operations, confident that their financial statements are accurate, in compliance with regulations, and readily available whenever needed.
Tax Planning and Optimization:
Effective tax planning is a fundamental aspect of any successful business. Our seasoned tax consultants offer strategic advice and practical solutions to optimize your tax position while adhering to legal requirements. We analyze your financial situation and business structure, identifying opportunities for deductions, exemptions, and incentives to minimize your tax liabilities within the confines of the law.
Audit Support and Representation:
In the event of a tax audit, our consulting experts provide indispensable support. We meticulously review your financial records, identify potential discrepancies, and ensure your documentation is organized and audit-ready. Our team can effectively represent you during tax audits, liaising with authorities on your behalf to manage the process professionally and reduce your potential exposure.
Navigating the UAE's tax and accounting landscape can be challenging, but with the assistance of our experienced consulting company, you can operate efficiently while fulfilling your compliance obligations. We offer a comprehensive suite of tax and accounting services tailored to your specific needs, assisting you every step of the way. Contact us today to learn how our expert advisory can help you drive your business forward while ensuring compliance in taxation and accounting matters in the UAE.
Contact us today to learn more about our services, and we will be happy to help you achieve financial success and long-term growth in the UAE.
