The Ministry of Finance (MoF) is planning to introduce Value Added Tax (VAT) in UAE, effective from 2018. The UAE government will be imposing a tax on businesses with a yet to be finalized minimum annual turnover. The rate of VAT will likely be 5%. A VAT will be applied to the majority of transactions throughout the value chain.
The Zero tax regime was one of the major reasons that the UAE has traditionally been seen as commerce-friendly by businesses; however, the government’s plan to raise revenues to supplement the income from oil and other hydrocarbons through VAT has raised quite a few questions among companies.
To address these concerns, Commitbiz has launched tax consulting services to provide advice on tax issues to foreign companies operating in the UAE. We guide our clients on how to avoid double taxation, how to implement tax treaties between countries, reviewing the periodical forms and statements of the companies among others.
Details on our Tax Consulting Services are as below:
Direct Tax Services
We ensure you don’t pay double taxes to the government, and at the same time don’t get caught on the wrong foot for tax avoidance. Some of the services we provide in this category are:
- Representation of client before tax authorities for assessments, appeals, survey, research & seizure cases
- Tax management consultation services to minimize and manage tax liability under the UAE tax laws
- Filing of tax returns
Value Added Tax
A VAT is a new category of tax altogether and you don’t want to be caught unaware of a major compliance issue. To be made exempt from VAT you need a VAT certificate. We have explained the details of procuring one here. The services we provide in this category are:
- Registration with VAT/sales tax authorities
- Filing of periodical returns and calculation of tax liability
- Representation for assessment, appeals reference etc.
- Assisting with other VAT/sales tax compliance
- Procurement of statutory forms
- VAT planning and consultation services
If you are in the business of providing any kind of service, then you would need to pay a service tax. Below are the services we provide in this category:
- Registration with service tax
- Calculation of service tax
- Consultation services for assessments, appeals etc.
- Advisory Services for Tax Planning and minimization
- Filing of regular service tax returns and other compliances
- Research and preparation of records for Cenvat, service tax credit and other records under service tax law
For more information, do write in to us at firstname.lastname@example.org.
If you need any help with tax residency certificate, feel free to Contact us. We will be glad to assist you.