VAT & Corporate Tax
Whether a voluntary VAT registered business, mandatory VAT-registered company or an entity registered as a tax/VAT group, all have to deal with VAT filing. It can’t be helped if you are indulged in taxable activities as per FTA. Being VAT compliant is vitally important for any business especially if they don’t want to attract unnecessary penalties and hassles. And timely and appropriately conducted VAT return filing keeps you VAT ready and compliant. VAT return filing is part and parcel for any VAT-registered company in the UAE aiming to report the tax authorities (FTA) VAT collected and paid by the entity to the tax authority during the given specific time period. Usually filed quarterly, VAT return filing communicates about how much VAT is to be paid or repaid by the tax authorities and allows businesses to pursue the correct financial path.
Under the new corporate taxes, starting from June 2023, the UAE will impose a 9% corporate tax rate on all business activities except the extraction of natural resources. The 9% rate will be applicable if the company's income exceeds Dh 375,000. The new corporate tax decision comes as the UAE aims to modernize its economy and adapt to international taxation norms. The tax on corporate profits comes as the UAE administration seeks to help large economies close tax avoidance loopholes.
Service Offerings
- VAT Registration/Deregistration
- VAT Impact analysis and assessment
- VAT Return filing
- VAT Amendments
- VAT Refund Requests
- VAT Compliance and Consultation
- VAT Health Check-up
- Corporate Tax Planning & Registration
- Corporate Tax Return Filing
- Corporate Tax Advisory
VAT, Corporate Tax, International Taxation, and Regulations services are critical for businesses to comply with tax regulations and manage their taxes effectively. These services involve understanding and interpreting tax laws and regulations, preparing tax returns, and providing advice and guidance on tax-related matters. Profitz Advisory is a leading tax consultancy firm in Dubai that provides these services to businesses of all sizes. We offer a range of tax-related services, including:
VAT Consultancy: Profitz Advisory offers VAT consultancy services to businesses in Dubai. This includes providing guidance on VAT registration, preparing and filing VAT returns, and advising businesses on VAT-related matters.
International Taxation: Profitz Advisory offers international taxation services to businesses operating in multiple countries. This includes advising on cross-border tax issues, transfer pricing, and withholding tax compliance.
Corporate Tax: The firm assists businesses in managing our corporate tax affairs. This includes advising on tax-efficient structures, preparing and filing tax returns, and ensuring compliance with tax laws and regulations
Regulations: We assist businesses in complying with various regulations related to taxation, such as value-added tax, excise tax, and customs duties.
Profitz Advisory is one of the best accounting company in Dubai , with a team of experienced tax consultants and agents. We use the latest tax software to ensure accurate and timely filing of tax returns. We also offer advisory services to help businesses manage our taxes effectively and minimize tax liabilities.
In conclusion, if you are a business owner in Dubai, and you require tax-related services such as VAT consultancy, corporate tax, international taxation, or regulations, Profitz Advisory is an excellent option. We provide a range of services that will help you manage your taxes effectively and ensure compliance with regulations.
Questions
VAT Consultancy in Dubai refers to the services provided by a tax consultancy firm to businesses in Dubai to help them comply with the value-added tax regulations. This includes guidance on VAT registration, preparing and filing VAT returns, and advising businesses on VAT-related matters.
Businesses in Dubai need tax consultants to manage their tax affairs effectively, ensure compliance with tax laws and regulations, and minimize their tax liabilities. Tax consultants provide businesses with advice and guidance on tax-related matters and help them prepare and file tax returns.
Tax agents in Dubai are licensed professionals who provide tax-related services to businesses and individuals. They assist businesses in managing their tax affairs, ensuring compliance with tax laws and regulations, and minimizing tax liabilities.
The benefits of working with the best VAT consultants in Dubai include timely and accurate guidance on VAT-related matters, efficient VAT registration and filing, and compliance with VAT regulations. VAT consultants can also help businesses minimize their VAT liabilities and plan for future tax implications.
International taxation refers to the tax laws and regulations that apply to businesses operating in multiple countries. It includes issues such as transfer pricing, cross-border tax issues, and withholding tax compliance.
Corporate tax is a tax on the profits earned by businesses. It is typically based on the company's taxable income, and the tax rates vary depending on the jurisdiction. Corporate tax is one of the most significant tax liabilities for businesses, and it is essential to manage it effectively.
Tax consultancy firms can help businesses with regulations by providing guidance and advice on various tax-related regulations, such as value-added tax, excise tax, and customs duties. They can also assist businesses in ensuring compliance with these regulations to avoid penalties and fines.