VAT AND CORPORATE TAXES

• United Arab Emirates is on the way to remodelling itself as a business hub. In forthcoming years UAE will be the business magnet for every company around the world. More the business growth takes place, the requirement for accounting services in Dubai will rise. When the businesses in Dubai boosts, it automatically increases the number of accounting consultants for providing services like VAT registration in UAE. We are one of the leading TAX Experts in Dubai, known to deliver top-notch Tax Related  services in Dubai across diverse sectors. 

             A timely registration helps one comply with the regulatory requirements and avoid penalties for late registration. Our VAT Servies

 ensure that the VAT Registration Form is correctly filed with the Federal Tax Authority (FTA), and all the required documents are submitted.

Oxford Enterprise Management Accountant also associated with UAE leading Tax Auditors who provides Tax Advisory services 

Our Services are extended to the clients are 

• · Value Added tax registration 
• · Corporate tax registration Services
• · Voluntary Disclosure Support Services 
• · Tax Claim and refund Application process related Services 
• · Advisory through Authorised Tax Consultants 
• · Periodical tax Filing Services 
• ·  Providing periodical Updates on Vat and Corporate Tax Law and Amendments to Clients 
• · Tax related Software alignment and Setting up and reports etc 
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What is Value Added Tax 

• Value Added Tax (VAT) is a transaction-based indirect tax which is levied at each step of the supply chain. End consumers generally bear the VAT cost while registered businesses collect and account for the tax, in a way acting as a tax collector on behalf of the Federal Tax Authority.
• The VAT is used in more than 180 countries around the world. All OECD countries except for the US have VAT (or a variation). While it feels exactly the same as a general sales tax to end-consumers, VAT is a more sophisticated tax and overcomes many challenges that affect the general sales tax.

What is Excise Tax 

The UAE, Excise Tax is currently applied on the following goods:
 

• · Tobacco and tobacco products.
• · Liquids used in electronic smoking devices and tools.
• · Electronic smoking devices and tools.
• · Carbonated drinks (note that this excludes sparkling water).
• · Energy drinks.
• · Sweetened drinks.
• The intent of Excise Tax is to reduce consumption of these commodities while also raising revenues for the government that can be spent on public services.
  All businesses that import, produce or release excise goods from a designated zone must consider their registration requirements and compliance responsibilities related to filing and paying Excise Tax.

What is corporate tax 

• Corporate 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.
• 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
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