No matter what type of firm you manage, you must pay the correct tax for a start-up or a global operation. Knowing the current corporate tax UAE rules and legislation in the country you operate will ensure that you pay the right amount.

However, running a business means you have a lot to think about, and keeping up with changes in tax regulations that affect business operations can be difficult and time-consuming. Therefore, it may be beneficial to seek tax advice from subject matter experts.

At VVAS, we have a team of highly trained and experienced UAE tax law experts with in-depth and professional knowledge of the current legislation. Our team has extensive experience providing professional tax services to various regional organizations and has proven capabilities in delivering solutions to tax issues in the UAE.

Tax Compliance professionals from the UAE government

In the UAE, taxes have changed in recent years. Our tax advisory services will ensure your organization remains compliant; however, fundamentally understanding changes in rules and regulations will make it easier for your organization to follow the latest guidance.

Income tax does not apply to individuals in the UAE, but corporate tax applies to foreign oil companies and banks. Excise duty applies to certain goods harmful to humans or the environment.

In January 2018, Value Added Tax (VAT) was levied at a rate of 5%. It puts the UAE in line with more than 180 other affected countries and businesses, where they must begin collecting and accounting taxes on behalf of the government. Many companies have had to learn how to comply with VAT regulations.

Another recent change concerns the introduction of the Economic Articles Regulations in 2019. These regulations ensure transparency of the economic presence of UAE entities and reporting of real income reflecting economic activities carried out in the UAE.

At VVAS, we can advise you on VAT and other taxes affecting your business, providing you with a permanent tax solution.

Tax Compliance Services in the United Arab Emirates

An excise tax is imposed on taxpayers who sell certain goods harmful to the environment or human health. These companies must comply with UAE corporation tax laws, including registration, tax declaration, voluntary disclosure, etc. However, the Federal Revenue Authority has updated new reporting requirements for excise tax compliance in the UAE. For this reason, enterprises are well aware of the importance of perfectly implementing consumption tax laws and regulations. Our tax advisors in Dubai will help you adapt to the changing FTA regulatory environment.

What Does Tax Compliance Mean?

Tax compliance means ensuring your tax records comply with your local tax obligations. The Federal Revenue Authority is responsible for collecting and assessing taxes in all emirates of the United Arab Emirates. Relevant regulatory agencies will check your tax registration, declaration, and filing according to the tax deadline. Proper handling of shipments that need to be picked up will save you from penalties for non-compliance with free trade agreements.

The Ultimate Goal Of Tax Compliance

The main goal of GST compliance in the UAE is to protect corporate accounts from the heavy penalties of free trade agreements. The administrative tax authority will then impose penalties on companies that do not comply with the excise tax law—charged for incorrect registration, late filing of returns, or submission of invalid documents or other information. The FTA imposes stringent penalties for non-compliance with excise duty rules. Therefore, it is advisable to engage a professional consultant to provide GST services in the UAE and ensure that all necessary compliance obligations are fulfilled.

Why Is It So Hard For Companies To Comply In The UAE?

The UAE Tax Authority is constantly amending laws and regulations to attract investors. The UAE government does this to beat the global business competition. But this makes it difficult for companies to comply with tax rules. Companies need clarification about the correct time to register, whether the threshold has been crossed, how often they need to file excise tax returns in the UAE, etc. It is because yesterday’s tax compliance situation may be different today. For a successful tax filing, always set the FTA guidelines.

VVAS Tax Compliance Services & Solutions

We provide local and multinational companies with practical solutions for all their indirect tax and economic substance regulations requirements. To do this effectively, we collaborate with other VVAS member firms worldwide, drawing on our extensive knowledge of tax practices, tax planning, and procedures worldwide, including the UAE.

Our tax services include:

• Tax Advisory Services,
• Impact assessment of VAT regulations, excise duties, and economical materials,
• Tax Law Training Seminar,
• Tax advisory services on specific issues,
• Tax Compliance Services,
• Assist in preparing and submitting advertisements,
• Value Added Tax (VAT),
• Sale tax,
• the organization of economic data,
• Obtain registration, revocation, and tax adjustments,
• Obtain a tax payment certificate,
• Obtain a tax residence permit in the United Arab Emirates.

Benefit Of Choosing VVAS Tax Compliance Services

Tax services and corporate tax support provided by VVAS are designed to ensure compliance. These are our strengths:

• Our tax services team is available 24 hours a day.
• We provide tax planning services based on up-to-date knowledge of the latest tax laws and implementing regulations.
• Benefit from a fully implemented proactive tax compliance strategy.
• We provide a variety of tax consulting services.

VVAS Tax Compliance Services in Dubai

Tax compliance in the UAE is an essential process that has undergone significant changes to save the country from the harmful effects of depreciating goods. Our tax advisors emphasize several factors when managing your tax compliance. Our top tax compliance services include:

• Assess GST
• Timely submission of GST returns.
• Amend your GST records
• View all your tax information
• Advice on TLC notifications