Taxation
Tax Consultants in Dubai
As the best tax consultants in Dubai, we at TCA simplify your complex taxation issues through knowledge, accurate reporting, the correct approach, and prompt taxation services.
The global tax environment is fast-changing because of work mobility, upscaling and sustainability measures, modifications in tax policies relating to your industry, and other factors.
While the introduction of the corporate tax has become a mega event in the corporate world, business owners have become conscious and curious about its impact. While the others place unnecessary stress on interpreting the law and complying with the complex provisions.
This is where TCA provides the best taxation services in the UAE, and we will assist you with:
- Understanding the law
- Its requirements
- Applicability
- Compliance requirements
How Can Tax Consultants in Dubai Help?
Interpret the Taxation Laws
Our skilled tax consultants help you interpret the law correctly and understand its requirements. Be it a corporate tax law or the VAT (value-added tax) law, our team of experienced tax consultants makes it simple for you to understand the provisions.
Accurate Compliance
Our tax consultants in Dubai help you comply with various filing requirements of the laws effectively, timely, and with accurate numbers.
Transfer Pricing Reporting
Our tax consultants in UAE also help you report the applicable international transactions for transfer pricing requirements using approved methods to calculate the ‘arm’s length price.’
Prepare for Changes
We help you prepare for any new law implementation or any changes in the existing laws with the right taxation services in the UAE.
Different Types of Tax in UAE
Explore the diverse range of taxation services with expert advice from the best tax consultants in Dubai. Our taxation service provides insights into various tax types prevalent in the region, including VAT, corporate tax, excise tax, and tourist tax. Find out how TCA’s seasoned professionals can assist you in navigating complex tax regulations, determining your tax strategy, and ensuring compliance.
Corporate Tax
For the fiscal year starting June 1, 2023, the United Arab Emirates introduced corporate tax regulations. Our expert tax consultants in Dubai can help you navigate these changes effectively. The UAE corporate tax structure includes no tax on income up to AED 375,000 and a 9% tax rate on income exceeding AED 375,000.
Value Added Tax (Vat)
Our taxation services in Dubai encompass comprehensive VAT (Value Added Tax) guidance and support. Since its establishment on January 1, 2018, VAT has become a pivotal part of the UAE's economic diversification strategy, with a 5% tax rate applied to various goods and services. Our expert tax consultants in Dubai specialize in navigating VAT regulations, ensuring compliance, and offering strategic insights for businesses. We cover zero-rated supplies, such as medical supplies and gold trading, as well as exempt supplies, including financial services and residential real estate. Trust us for top-tier VAT advisory services tailored to your needs.
Excise Tax
Excise tax is an indirect tax imposed on products that can harm individuals or the environment. At TCA, our expert tax consultants specialize in excise tax regulations, ensuring compliance for businesses dealing with excise commodities. These include tobacco-based items, sweetened beverages, electronic smoking devices, and energy drinks. Trust our experienced team to navigate the complex landscape of excise tax, providing comprehensive guidance and solutions tailored to your needs. Ensure compliance and peace of mind with our tax consultants in Dubai.
Our Tax Consultants' Methodology
- Understanding the Business – We at TCA, our tax consultants, review your business and processes to learn which laws are applicable and what compliance requirements are needed.
- Impact Study – Our taxation services perform an impact study of the applicable tax laws to understand whether the final burden to pay the tax is yours or whether there is a scope to claim any tax credits.
- Applicability Analysis – Once the impact study is done, we also analyze the applicable provisions to identify any exemptions available for you.
- Compliance Calendar – Experienced tax consulting professionals provide you with a compliance calendar customized for your business only to include the compliances applicable to your business.
Frequently Asked Questions
Corporate tax in UAE is a type of tax levied on profits earned by corporations or businesses. it is a tax on the income generated by the business, which is paid to the government. The tax rate on corporate profits varies depending on the country, the size of the firm and other factors. Corporate tax is different from other taxes, and TCA is one of the best tax consultants in Dubai.
There are many types of taxes including income tax, sales tax, property tax, corporate tax and excise tax. The purpose of each tax type is to collect revenue from a different source.
Failure to pay taxes in UAE can result in fines, penalties and legal action. The consequences of failing to pay taxes can vary depending on the specific tax involved, the amount owed, and the odds surrounding nonpayment. It is important for both businesses and individuals to comply with the tax regulations in UAE and we at TCA, the tax consultants in UAE, help you avoid tax penalties and legal issues.
Tax planning is the practice of optimizing financial decisions to minimize tax liability. Investment decisions, income and expense timing, and deductions and credits are all possible tax planning strategies. Tax planning can be used by individuals and businesses to reduce their tax liability and improve financial performance. TCA, the best tax consultants in Dubai, is here to help you with your taxation service needs.
The benefits of hiring tax consultants in Dubai include reducing tax liability, improving compliance with tax laws and regulations, reducing the risk of audits, and achieving greater tax efficiency. Also, tax consultants in UAE provide valuable insights and recommendations to improve financial performance and achieve strategic goals.