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Ready to experience the benefits of working with the Best VAT Consultants in Dubai, UAE? Contact Exsteer today to discuss your VAT requirements and take the first step towards financial excellence. Exsteer is your premier choice for expert tax consultants in Dubai,UAE. With our dynamic workforce and extensive expertise in tax specialties, we are committed to delivering top-notch services tailored to your specific business needs. Let our Trusted tax consultants in Dubai, UAE support your business’s growth and ensure your VAT compliance.
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VAT SERVICES
CORPORATE TAX SERVICES
Exsteer, the top tax consultants in Dubai, UAE, offer expert guidance to seamlessly incorporate tax regulations into your business strategy. Our customized financial plans ensure tax compliance and business success.
As trusted tax consultants in Dubai, UAE, we offer premium VAT services that deliver exceptional value without breaking the bank. Our team of expert VAT consultants understands the intricacies of the tax system in Dubai, UAE, and can effectively navigate the complexities on your behalf.
Choose Exsteer for hassle-free tax management and accurate reporting, allowing you to focus on your core business operations while we handle your tax domain with expertise. Avoid penalties and ensure your numbers are sorted with our comprehensive tax services
When it comes to the safety and security of your financial data, Exsteer is committed to using modern technologies and strategies. Our efficient and secure processes ensure that your sensitive information remains protected throughout our VAT consulting services in Dubai, UAE.
When it comes to finding the best tax consultants in Dubai, UAE, Exsteer is the name you can trust. Our dynamic workforce and expertise in tax specialties make us the top choice for businesses of all sizes. With our comprehensive VAT services in Dubai, UAE, you can achieve financial success and compliance with ease.
Partnering with our skilled VAT consultants in Dubai, UAE will enable you to unlock the gateway to financial success. We assess your specific tax requirements, both personally and for your business, and create a tailored financial strategic plan that incorporates tax efficiencies into your overall business model.
Ensuring Compliance and Expert Tax Consultancy
Wondering why UAE businesses should register for VAT? VAT registration not only helps companies become compliant with upcoming corporate tax laws but also serves as a preventive measure against fraudulent activities and misconduct. Moreover, it enables faster preparation of financial statements and simplifies the auditing process. At our VAT registration services in Dubai, we offer comprehensive solutions to assist businesses across the UAE in navigating the complexities of VAT. Our personalized approach ensures that clients receive tailored solutions, delivered by our dedicated tax consultants in Dubai. With our VAT registration services in Dubai, UAE, you gain access to a team of knowledgeable tax consultants who will help you understand the latest policies and regulations relevant to VAT.
As a trusted tax agent, Exsteer Tax Consultancy will handle all necessary record-keeping, document submission, and financial data management with the Federal Tax Authority (FTA) on your behalf. With our dedicated support, you can ensure full compliance and peace of mind. Contact us today to streamline your VAT registration process and benefit from our tailored VAT consultancy services.
Who needs to Register?
Businesses must register for VAT if their taxable supplies and imports surpass AED 375,000, and they can voluntarily register if their taxable supplies and imports (or taxable expenses) exceed AED 187,500.
Documents Required for VAT Registration in UAE
As per the Corporate Tax in the UAE 2023, complying with the new tax system is essential for all entities. Exsteer specializes in corporate income tax registration services, ensuring businesses meet the necessary requirements. Our expert team provides guidance on tax ramifications, necessary adjustments to corporate structures, operational models, finance and tax operations, reporting systems, legal agreements, and transfer pricing rules. By partnering with Exsteer, businesses stay ahead of the corporate tax changes and make informed decisions for their operations. With our experienced tax consultants, navigating the complexities of corporate tax in Dubai,UAE becomes seamless and hassle-free.
The introduction of corporate tax in the UAE, 2023 aims to enhance revenue and promote financial discipline in the corporate culture, aligning with international standards of tax transparency. While maintaining one of the world’s lowest tax rates, the implementation of corporate income tax ensures the competitiveness of the UAE in the global business and investment environment. It also protects the interests of start-ups and small businesses while bringing more financial discipline through proper record-keeping.
Who needs to Register?
Documents Required for Corporate Tax Registration in UAE
Corporate Tax rates
To comply with corporate tax regulations, businesses in the UAE must follow these three essential steps:
As the implementation of corporate tax in Dubai,UAE approaches in 2023, it is essential for all businesses, including free zone companies and freelancers, to register for corporate tax. Even if a business already has a VAT number, separate registration for corporate tax is mandatory.
The corporate tax law in the UAE mandates the maintenance of specific accounting records. Our expert team at Exsteer can assist with accounting and bookkeeping requirements to ensure compliance with the law. Accurate accounting records are crucial for determining a company’s tax obligations and supporting any exemptions or tax relief.
After the end of the first taxable period, businesses are required to file corporate tax submissions with the Federal Tax Authority (FTA). Even if a business qualifies for exemptions or tax relief, it must declare this by submitting the necessary documentation to the FTA. Our experienced tax advisors at Exsteer can guide businesses through this process, ensuring they benefit from available exemptions and tax relief.
In compliance with the UAE VAT Law, VAT registration is required for companies operating in free zones. These companies also have the option to register under the group VAT system. Under the VAT implementation rule, the transfer of goods within these specified zones is exempt from taxation. This regulation encompasses various scenarios, including:
We utilize high-quality software and advanced applications at Exsteer to elevate your business to new heights of financial success and promotional excellence
What is the Difference between Corporate Tax & VAT?
Corporate tax is a tax calculated on a company’s profits, while VAT is a tax calculated on the consumption of goods and services. Companies are responsible for paying corporate tax, while consumers who utilize goods and services are the ones who bear the burden of VAT.
What is the difference between VAT Accounting & Corporate Tax Accounting
In UAE, businesses primarily focus on accounting for purchases, sales, and expenses when preparing VAT returns to claim VAT input. However, when it comes to corporate tax (CT) accounting, a different approach is required. CT accounting follows established accounting standards such as GAAP or IFRS, and it involves the preparation of financial statements such as the balance sheet and profit/loss statement for filing the CT return.
What is the VAT-related responsibilities of businesses?
VAT-registered businesses generally:
What sectors will be zero rated for VAT?
The following main categories of supplies will be subject to 0% VAT:
Goods and services exported to countries outside the GCC.
International transportation and associated services.
Supplies of specific sea, air, and land transportation vehicles, such as aircraft and ships.
Investment grade precious metals, including gold and silver with a purity of 99%.
Newly constructed residential properties that are sold for the first time within 3 years of completion.
Provision of designated educational services and related goods and services.
Provision of designated healthcare services and related goods and services.
What UAE CT rates will apply to entities established in a Free Zone?
The following major supply categories will be exempt from VAT, with a 0% charge:
Free Zone entities that fulfill the requirements to qualify for the Free Zone CT regime, known as “Qualifying Free Zone Persons,” will be subject to UAE CT at the following rates:
– 0% on income that meets the qualification criteria.
– 9% on taxable income that does not meet the definition of qualifying income.
Who is exempt from UAE Corporate Tax?
The UAE Corporate Tax (CT) exemptions apply to the following individuals, either automatically or through an application process:
What is a Qualifying Free Zone Person?
In order to be recognized as a “Qualifying Free Zone Person,” the Free Zone organization must meet the following criteria:
Will small businesses be given any UAE Corporate Tax relief?
Small businesses in the UAE, earning Dh3 million or less in revenue, could avail themselves of a newly introduced corporate tax relief program. Under this program, in addition to a 0% CT rate for taxable income up to AED 375,000, these businesses can be classified as having no taxable income for the applicable Tax Period. Moreover, they may enjoy simplified compliance obligations. To take advantage of this small business relief, it is necessary to submit an election to the FTA (Federal Tax Authority).
What records should I keep for UAE Corporate Tax purposes?
Taxpayers are obliged to create and preserve financial statements to calculate their taxable income. It is crucial for them to retain all relevant documents and records that substantiate the information provided in their CT return or any other filing submitted to the Authority.
Exempt individuals must also uphold the responsibility of maintaining comprehensive records to validate their exempt status.
Exsteer: Your Trusted Partner for VAT Consultancy and Corporate Tax Services in Dubai,UAE
At Exsteer, our dedicated team of VAT experts and experienced tax consultants is committed to providing comprehensive support for your business’s VAT consultancy and Corporate Tax needs. From VAT registration and compliance to company tax implementation and optimization, we offer tailored solutions to navigate the ever-changing tax landscape effectively. Choose Exsteer as your trusted partner in Dubai,UAE for expert guidance on VAT and company tax matters.
Download our free corporate tax guide for better understanding and contact us today for personalized assistance. Our experts are here to help you with any confusion or queries you may have. Take the first step towards financial success and compliance by reaching out to us now.
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