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Tax Providers Consultancy offers a comprehensive array of TAX advisory services for businesses and organizations of all sizes, at the local, national and international levels:
At TaxProviders, we have built a team of highly qualified accountants and tax advisors who can guide you in navigating the UAE’s new tax law. Whether you are required to pay corporate tax or you are exempted, our team will help you establish an accounting system in place, so you can continue running your business smoothly. Our tax specialists will advise you on the required documents and steps to take, ensuring your business is fully tax-compliant even before the new law takes effect. One-stop-shop for business support services, including bookkeeping, tax advice, auditing, accounting, payroll, VAT registration assistance and corporate tax compliance
Its an examination of liability of a taxable person by the Federal Tax Authority. Tax Audit is conducted by the authority to check whether the tax liability is paid within the due date and whether such liabilities are properly arrived as per the provisions of the relevant laws such as UAE VAT law, UAE Excise Tax law. .
Accounting and operational software system review.
Review of compliance of Output Tax.
Review of compliance of Input Tax.
Review of periodical VAT returns.
Payment of Tax due amount.
VAT is implemented in the UAE with effect from 1st January 2018. VAT (Value Added Tax) is an indirect tax which is charged at every level of supply of goods or services or both. We believe that the businesses should be guided properly for VAT implementation in UAE to comply with UAE VAT law and develop a sustainable tax strategy. The procedure for effective VAT implementation is as follows:
Understand the business model.
Training to the Management & Employees.
Analyzing the impact of VAT on your business.
Identifying a VAT team leader | VAT Implementation Project manager.
Registration for VAT.
Accounting systems under VAT.
Invoicing under VAT.
Filing of VAT Return.
The provisions of Federal Decree Law No. (8) of 2017 VAT Executive Regulation (Cabinet Decision No. 52 of 2017)
Timely, precise & cost-effective support / VAT advisory services from the VAT Expert for the queries or issues confronted by the businesses.
VAT impact analysis.
Formulating solutions and preparing for recommendations designed to provide advice on taxation for clients.
VAT Advisory Service through meetings and discussions.
Handling industry specific issues with precise guidance to comply with the UAE VAT law.
Advisory Services with regard to Customs clearance as well as designated zone related issues.
has to be done through online portal of the Federal Tax Authority (FTA) available under e-services. The form used for VAT return filing is called Form VAT 201.Timely, precise & cost-effective support / VAT advisory services from the VAT Expert for the queries or issues confronted by the businesses. Our Tax professionals can support you in the following areas:
We will visit your office on a periodical basis to compile the information for filing the VAT Return.
We ensure that the VAT returns are filed within the specified time in each tax period.
Proper guidance for the payment of Minimal Tax Liability as per the provisions of the UAE VAT Law will be advised.
Optimal Tax Planning for the company will be done.
We will be available to represent in front of the authority on behalf of you as and when required.
The Federal Decree-Law No. (47) of 2022 on the Taxation of Corporations and Businesses (hereinafter referred to as the “Corporate Tax Law”) was issued by the United Arab Emirates (“UAE”), on 09 December 2022.
The Corporate Tax Law provides the legislative basis for the introduction and implementation of a Federal Corporate Tax (“Corporate Tax”) in the UAE and is effective for financial years starting on or after 1 June 2023.
The introduction of Corporate Tax is intended to help the UAE achieve its strategic objectives and accelerate its development and transformation. The certainty of a competitive Corporate Tax regime that adheres to international standards, together with the UAE’s extensive network of double tax treaties, will cement the UAE’s position as a leading jurisdiction for business and investment.
ICorporate Tax is a form of direct tax levied on the net income of corporations and other businesses.Corporate Tax is sometimes also referred to as “Corporate Income Tax” or “Business Profits Tax” in other jurisdictions. The Federal Decree-Law No. (47) of 2022 on the Taxation of Corporations and Businesses (hereinafter referred to as the “Corporate Tax Law”) was issued by the United Arab Emirates (“UAE”), on 09 December 2022. The Corporate Tax Law provides the legislative basis for the introduction and implementation of a Federal Corporate Tax (“Corporate Tax”) in the UAE and is effective for financial years starting on or after 1 June 2023. The introduction of Corporate Tax is intended to help the UAE achieve its strategic objectives and accelerate its development and transformation. The certainty of a competitive Corporate Tax regime that adheres to international standards, together with the UAE’s extensive network of double tax treaties, will cement the UAE’s position as a leading jurisdiction for business and investment. Given the position of the UAE as an international business hub and global financial centre, the UAE Corporate Tax regime builds from best practices globally and incorporates principles that are internationally known and accepted. This ensures that the UAE Corporate Tax regime will be readily understood and is clear in its implications
Broadly, Corporate Tax applies to the following “Taxable Persons”: • UAE companies and other juridical persons that are incorporated or effectively managed and controlled in the UAE; • Natural persons (individuals) who conduct a Business or Business Activity in the UAE as specified in a Cabinet Decision to be issued in due course; and • Non-resident juridical persons (foreign legal entities) that have a Permanent Establishment in the UAE (which is explained under [Section 8]). Juridical persons established in a UAE Free Zone are also within the scope of Corporate Tax as “Taxable Persons” and will need to comply with the requirements set out in the Corporate Tax Law. However, a Free Zone Person that meets the conditions to be considered a Qualifying Free Zone Person can benefit from a Corporate Tax rate of 0% on their Qualifying Income (the conditions are included in [Section 14]). Non-resident persons that do not have a Permanent Establishment in the UAE or that earn UAE sourced income that is not related to their Permanent Establishment may be subject to Withholding Tax (at the rate of 0%). Withholding tax is a form of Corporate Tax collected at source by the payer on behalf of the recipient of the income. Withholding taxes exist in many tax systems and typically apply to the cross-border payment of dividends, interest, royalties and other types of income.
All Taxable Persons (including Free Zone Persons) will be required to register for Corporate Tax and obtain a Corporate Tax Registration Number. The Federal Tax Authority may also request certain Exempt Persons to register for Corporate Tax. Taxable Persons are required to file a Corporate Tax return for each Tax Period within 9 months from the end of the relevant period. The same deadline would generally apply for the payment of any Corporate Tax due in respect of the Tax Period for which a return is filed.
At Taxproviders, we have built a team of highly qualified accountants and tax advisors who can guide you in navigating the UAE’s new tax law. Whether you are required to pay corporate tax or you are exempted, our team will help you establish an accounting system in place, so you can continue running your business smoothly. Our tax specialists will advise you on the required documents and steps to take, ensuring your business is fully tax-compliant even before the new law takes effect.
Tax Providers Consultancy culture is built on a genuine interest in our clients their challenges, growth ambitions and wider commercial context. You will get the attention you deserve from approachable, senior professionals who ask the right questions, listen and provide real insight.
Our team of senior professionals, all have backgrounds in taxation, accountancy, economics, banking, corporate finance, engineering, financial modelling, management and joined Tax Providers in order to work with dynamic, growing clients who desire a more personalised approach to service.
We have put in place a central team of professionals which incorporates a variety of specialisms (Excise tax, and Value Added Tax). The team have a genuine desire to understand what is important to you and make it important to them, and they are used to working closely to provide a seamless service. ;
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