Tax Consultants Dubai
We offer expert advice and guidance on tax services in Dubai to help you successfully manage your businesses.
Stress-Free Tax Consulting Services
As a business owner, it is important to stay informed about tax laws and regulations that are vital to your company. In addition, understanding the tax and legal requirements for operating your business can help you avoid costly mistakes and protect your assets. At Premier Auditing & Accounting, we provide expert advice and guidance on tax and legal issues to help you navigate the complexities of running a successful business.
- Value Added Tax
- Corporate Tax
- Excise Tax
Our Consulting To Elevate Your Business in Dubai
Value Added Tax
The introduction of Value Added Tax (VAT) in UAE was on 1 January 2018. VAT is a tax on the consumption or use of goods and services. The VAT rate is 5%, and it applies to most goods and services since the taxation concept is common. Businesses have doubts as to the starting point to implement VAT and which aspects within their operation are to be prioritized.
The VAT team in Premier Auditing & Accounting supports businesses in navigating the UAE tax environment and provides solutions that suit their business model as well as the industry. Our tax consulting firm with VAT experts, providing legal and tax service, have great exposure to the VAT rules and procedures and have experience in VAT practices in the international arena, which will help the clients implement the VAT system within their organization. The range of our VAT legal tax service is as follows:
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VAT Advisory and Compliance
VAT is one of the common tax system followed by most of the countries across the world. If you are looking for professional support and advice in a wide range of aspects of VAT in UAE, then Premier Auditing & Accounting is one of the best tax consulting firms where you can find all the requirements you need. Ever since the UAE introduced VAT in January 2018, all businesses have been required to follow the compliance and guidelines of VAT provided by the Federal Tax Authority (FTA). However, there are more facts to know about VAT and the mandates a business has to follow. Therefore, every business needs an advisor who has deeper knowledge and understanding of the field of taxation.
We have a highly experienced and qualified team with thorough knowledge of VAT, and our Premier Auditing & Accounting team can offer you all the help you need consistently at an affordable price.
VAT Registration
VAT registration is the process of registering your business with the FTA for making taxable supplies of goods and services. After a business registers for VAT, the registered business is legally authorized to collect taxes from its customers and claim credits for the taxes paid on the goods or services purchased from suppliers.
Types of VAT registration
Mandatory Registration
Every company must register for VAT if the taxable supplies exceed AED 375,000 for the period of the last twelve months or expected to exceed the limit in the next 30 days.
Voluntary Registration
A Company may choose to register for VAT voluntarily when the total value of taxable supplies exceeds AED 187,500 for the period of the last twelve months.
VAT Return Filing
At the end of each tax period, VAT-registered businesses or the ‘taxable persons’ must submit a ‘VAT return’ to FTA. A VAT return summarizes the value of the supplies and purchases a taxable person has made during the tax period and shows the taxable person’s VAT liability/refund.
When are Businesses required to file VAT Returns?
VAT returns have to be filed with FTA on a regular basis, usually 28 days from the end of the tax period.
Tax period
Businesses that are registered under the VAT have to file a VAT return on a monthly/quarterly basis. Every registered business has to file VAT returns within the due dates mentioned under the VAT law by FTA. The standard tax periods are:
Quarterly for businesses with an annual turnover below AED 150 million
Monthly for businesses with an annual turnover of AED 150 million or more
VAT Refund
What is a VAT Refund?
When a business has a higher input VAT claim than the Output VAT amount, the excess balance will be VAT refundable.
We ensure VAT compliance in order to recover the VAT refund amount within the stipulated period. Claiming a VAT refund in UAE is a complicated task, and businesses must get an expert opinion before submitting a VAT refund form.
Premier Auditing & Accounting is assisting you to claim VAT refunds. We are offering the best VAT refund services. Our VAT specialists submit a VAT refund form as per the guidelines provided by the FTA.
VAT De-registration
A business may choose to apply for VAT de-registration on a voluntary basis in cases where the taxable supplies of a business over the past twelve months are above the voluntary VAT registration threshold limit of AED 187,500 and below the mandatory registration threshold limit of AED 375,000. Suppose the business is still making taxable supplies, but the value in the preceding twelve months is less than the Voluntary Registration Threshold limit of AED 187,500. In that case, they must apply for VAT De-registration.
For the De-registration of VAT, we will help you with the following tax consultancy services in Dubai:
- De-registration eligibility assessment
- VAT De-registration
Corporate Tax
The introduction of Corporate Tax (CT) was issued under UAE Federal Decree-Law No. 47 of 2022. The Corporate tax is effective from the financial year starting on or after 1st June 2023. Corporate tax is a form of direct tax levied on the net income of corporations and other businesses. Corporate tax is also known as “Corporate Income Tax” or “Business Profit Tax” in other jurisdictions.
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 licensed Business or Business Activity in the UAE as specified in Cabinet Decisions
- Non-resident juridical persons (foreign legal entities) that have a Permanent Establishment in the UAE
- 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 as a Qualifying Free Zone Person can benefit from a 0% Corporate Tax rate on their Qualifying Income as specified in Cabinet Decisions
- Non-resident persons who do not have a Permanent Establishment in the UAE or who 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.
Corporate Tax Base and Rate
UAE Corporate Tax shall be applicable on taxable income at the following rates:
- 0% for taxable income up to AED 375,000
- 9% for taxable income above AED 375,000
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Corporate Tax Compliance and Advisory
Every business should comply with tax requirements as constituted by the Federal Tax Authority. Businesses should keep up to date with the upcoming changes to the rules and regulations around taxes and laws. It can be difficult and time-consuming for you to manage all these practices. Therefore, it will be beneficial for you to seek tax advice from experts in this field. We have a highly qualified and experienced team with thorough knowledge of Corporate Tax. Our taxation team has experience in providing specialized tax consulting services in Dubai for a range of organizations in the region and proven capabilities in providing solutions to tax issues in the United Arab Emirates.
Corporate Tax Registration
Every company subject to the corporate tax is required to register and obtain a Tax Registration Number from the Federal Tax Authority. The application shall be submitted to the Federal Tax Authority through the Emara Tax online portal. Once the application is submitted, the authority shall approve, reject or ask for additional information and notify the applicant accordingly.
Corporate Tax Return Filing
Corporate Tax is imposed on Taxable income earned by a Taxable person in a Tax Period. Corporate Tax is paid on the Company’s Net Income, i.e., income after the deduction of the cost of goods sold, general and administrative costs, depreciation, and other operating costs.
Taxable Persons are required to file a Corporate Tax return for each Tax Period within 9 months from the end of the relevant tax period.
As the Corporate Tax is effective for the financial year starting from June 2023, the taxable period shall be different for companies having different financial years.
Excise Tax
Excise Tax introduction of the Excise Tax in UAE on October 1st, 2017, has raised concerns among businesses engaged in importing, exporting, manufacturing, trading, storing or transporting excisable goods such as tobacco, alcoholic beverages, soft drinks and energy drinks. The new Excise Tax is expected to affect the price of the excisable goods for final consumers. The importers, manufacturers, and, in certain cases, other agents in the supply chain are liable to register for Excise Tax, submit periodical returns, pay the Excise Tax due to the local authorities and maintain specific Excise Tax records. Handling Excise Tax effectively will help your business reduce the risk of non-compliance while ensuring efficient management of the Excise Tax liability through the available exemptions, refunds and customs reliefs. The range of our Excise Tax services is as follows:
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- Review companies’ Excise Tax risk and exposure, identifying savings opportunities and reducing areas of risk
- Advise companies on structuring business transactions, including cross-border transactions, in a cost-effective Excise Tax way.
- Assist in Excise Tax registration and compliance
- Support in Excise Tax return preparation and filing
- Review calculation of Excise Tax liability
- Assist in Excise Tax audits, disputes and dealing with queries from Excise Tax authority
- Tax Optimization
Transfer pricing
Transfer pricing rules on setting arm’s length prices for controlled transactions between related parties, involving the pricing of goods, services, loans and intangible assets transferred between related entities within the same group. This practice ensures that transactions between these entities are conducted at arm’s length, meaning they reflect the fair market value that unrelated parties would agree upon in similar circumstances. The primary goal of transfer pricing is to allocate profits fairly among different parts of the organization while also complying with tax regulations in various jurisdictions. Our goal is to help you navigate the complexities of transfer pricing, optimize your tax liabilities, and enhance operational efficiency. Explore our resources to learn more about transfer pricing strategies, compliance requirements and best practices. Let us guide you towards transparency, consistency and fairness in your intercompany transactions.
Economic Substantial Regulations (ESR)
Economic Substance Regulations (ESR) laws are implemented by various jurisdictions to ensure that companies engaged in certain activities have a genuine economic presence in that jurisdiction. These regulations aim to prevent the inappropriate shifting of profits to low-tax jurisdictions without corresponding economic activity. Companies subject to ESR must demonstrate that they have substantial operations, employees and assets in the jurisdiction where they are claiming tax benefits.
The Regulations require UAE onshore and free zone companies and certain other business forms that carry out any of the defined “Relevant Activities” listed below to maintain and demonstrate an adequate “economic presence” in the UAE relative to the activities they undertake (“Economic Substance Test”).
Relevant Activities:
- Banking Business
- Insurance Business
- Investment Fund Management Business
- Lease – Finance Business
- Headquarters Business
- Shipping Business
- Holding Company Business
- Intellectual property Business (“IP”)
- Distribution and Service Center Business
Anti-Money Laundering (AML)
Anti-Money Laundering is to combat money laundering activities and the financing of terrorism by implementing measures that detect and deter suspicious transactions within the financial system. AML regulations require financial institutions and other entities to conduct due diligence on customers, monitor transactions for signs of money laundering and report any suspicious activities to relevant authorities. By enforcing AML measures, organizations aim to protect the integrity of the financial system and prevent illicit funds from being laundered through legitimate channels.
Ultimate Beneficial Owner (UBO) declaration
The Ultimate Beneficial Owner (UBO) declaration is a critical component of regulatory compliance efforts aimed at combating financial crimes such as money laundering and terrorist financing. The UBO declaration requires companies and other legal entities to identify and disclose the individuals who ultimately own or control the entity, even if they are not listed as shareholders or directors on official documents. This information is crucial for authorities to understand the ownership structure of a business and to prevent illicit activities that may be facilitated by hidden or anonymous ownership.
By requiring companies to provide UBO declarations, regulators can enhance transparency in corporate structures, deter criminals from using legal entities for illicit purposes, and hold accountable those who seek to conceal their ownership interests. The UBO declaration helps uncover the true beneficiaries behind a business entity, ensuring that financial transactions are conducted with integrity and in compliance with regulatory requirements.
Country by Country Reporting (CbCR)
Country by Country Reporting (CbCR) is a regulatory requirement that mandates multinational enterprises to provide detailed information about their operations, financial performance, and tax payments in each country where they conduct business. The purpose of CbCR is to enhance transparency and enable tax authorities to assess the tax risks associated with multinational companies’ cross-border activities. This reporting framework typically includes information such as revenue, profits, taxes paid, number of employees, and tangible assets in each jurisdiction where the company operates. By requiring multinational enterprises to disclose this information on a country-by-country basis, tax authorities can gain insights into the company’s global operations and assess whether their profits are being appropriately allocated and taxed in accordance with international tax standards. CbCR aims to prevent tax avoidance, profit shifting, and base erosion by providing tax authorities with the necessary data to identify potential tax risks and take appropriate enforcement actions. Overall, CbCR promotes transparency, fairness, and compliance in the global tax system, contributing to a more equitable distribution of tax revenues and a level playing field for businesses operating across borders.
Tax Consulting Services For Smart Strategies and Big Savings
In addition to being a tax consultant in Dubai, we provide tax services and comprehensive legal advice for businesses of all sizes. From entity formation and contract drafting to employment law and intellectual property protection, our experienced team can provide the guidance you need to protect your business interests and ensure compliance with all relevant laws and regulations. We understand that legal issues can be complex and overwhelming, which is why we are here to offer personalized solutions tailored to your specific needs.
No matter what size of business you are in, the Premier Auditing & Accounting team is here to support you with expert tax and legal guidance. Contact us today to schedule a consultation and discover how we can help you navigate the complexities of operating a successful business.
Our Tax Service Sectors
Trusted Tax Consultant in Dubai, UAE
Our team of professional tax consultants can assist you with tax planning, compliance and filing services. Our teams are up-to-date on the latest tax laws and regulations to ensure that you are claiming all available deductions and credits. Whether you are a sole proprietor, partnership, corporation or LLC, we can help you optimize your tax strategy to minimize your tax liability and maximize your savings.
Auditing &
Assurance
Premier Auditing & Accounting (PAA), offers comprehensive Audit & Assurance services to ensure the Integrity,
Advisory
Services
PAA accounting and book keeping team enables you to have accurate and timely book of accounts. PAA assists clients
to save cost and time in terms of placing efficient system of book keeping and accounting.
Accounting
Services
Premier Auditing & Accounting offers comprehensive audit services including statutory, internal, and management audit, Due Diligence and Forensic audit, audit of management plans, policies & control mechanism.
Company Formation & Liquidation
We at Premier Auditing & Accounting provide complete services in business setup, formation of LLC / Civil / Free zone companies as well as offshore company incorporation.
Management
Consultancy
Premier Auditing & Accounting offers a wide range of advisory and consulting services to help you every step of the way from the start-up to succession planning and help organizations assess and overcome financial and legal challenges…
VAT and tax return copies, invoices, receipts and contracts, financial statements and accounting records, payroll records, bank statements, supporting documents for tax deductions and exemptions
They help prepare necessary documents, respond to tax authority inquiries, and ensure all records are audit-ready and compliant.
The main benefits include compliance assurance, penalty avoidance, time savings, and strategic financial insights that support business growth.
Absolutely. Our consultants provide personalized tax strategies to optimize tax exposure and align with your business model and goals.
Fines can include failure to register, late filing, incorrect returns, or not maintaining proper records. Penalties are issued by the Federal Tax Authority (FTA).
Consultants assist with VAT registration, documentation, return filing, and audit readiness, ensuring the company adheres to the latest regulations.
