- 93350 Business Bay, Dubai
- info@amtaxaudit.com
- +971-(50) 399-1087
With ongoing tax policy reforms and new regulations emerging across the GCC, organizations are facing significant challenges. At A M Associates Chartered Accountants, we offer a comprehensive suite of taxation services designed to help you successfully navigate this complex landscape.
Our expertise spans the entire spectrum of both Direct and Indirect taxation. Our team of skilled professionals brings valuable insights from various jurisdictions, ensuring that we deliver tailored, high-quality solutions to meet your business needs.
We are committed to helping you understand and adapt to the intricacies of tax compliance, guiding you through the challenges to achieve lasting success.
Let us assist you in confidently overcoming these hurdles:
Introduction to Corporate Tax in the UAE
The UAE introduced corporate tax on June 1, 2023, establishing a 9% rate on taxable income exceeding AED 375,000. This initiative aims to diversify the economy and align with international standards. The framework includes specific provisions for various sectors and free zones, promoting compliance and transparency. Understanding this new tax regime is essential for businesses to navigate its implications and adapt their strategies accordingly.
We can support our clients in achieving a smooth transition to the new UAE Corporate Tax (CT) regime. Our collaboration will help you grasp the technical details of the UAE CT framework, identify potential tax implications for your business, and recommend necessary changes to your operating models and business structure.
We will also address key technical and documentation gaps to ensure you are fully prepared to comply with the new UAE CT regime in both its essence and its requirements.
Corporate tax services include:
As VAT laws in the region mature, it is crucial for companies to adopt proper practices.
The VAT team at A M Associates Chartered Accountants is highly knowledgeable about the VAT regulations applicable throughout the region. With significant experience and professional qualifications, we help clients across various industries comply with their VAT obligations. We offer private entities and family conglomerates a clear understanding of VAT legislation, ensuring their business activities run smoothly while adhering to the law.
Corporate tax services include:
In addition, our VAT compliance services feature:
Why is Transfer Pricing Important?
Transfer pricing plays a vital role in ensuring tax compliance and fair financial practices. Key points to consider include:
The definition of transfer pricing now includes payments to "Connected Persons."
For the first taxable period, the opening balance must adhere to the arm’s length principle. Taxpayers should adjust any closing balances with related parties before this period begins.
All dealings with related parties, both within the UAE and internationally, must be conducted at arm’s length.
Entities in qualifying free zones are required to follow the arm’s length principle.
Taxpayers generating AED 200 million or more in revenue during a tax period must maintain transfer pricing documentation.
Nonetheless, adherence to the arm’s length principle is essential, even for those below this threshold.
We provide a comprehensive range of advisory and compliance services related to Excise Tax for producers, importers, and storekeepers of excisable goods. Our services include:
We advise clients on how to effectively structure their business transactions within designated Free Zones to ensure compliance with Excise Tax requirements. This includes guidance on operational practices, documentation, and transaction flows to minimize tax liabilities while adhering to regulatory standards.
Our team assists clients in preparing and submitting Excise declarations and returns to the Federal Tax Authority (FTA). We ensure that all filings are accurate and timely, reducing the risk of penalties and enhancing compliance.
We facilitate the registration process for importers, producers, and stockpilers of excisable goods under the Excise Tax framework. This includes preparing and submitting the necessary documentation to the FTA, ensuring that clients meet all regulatory obligations.
We provide expert services for both Excise Tax registration and de-registration. Whether you're entering the market or ceasing operations, we guide you through the necessary processes to maintain compliance and ensure a smooth transition.
In addition to the above services, we offer ongoing support and advice regarding changes in regulations, compliance requirements, and best practices for managing excise tax obligations. Our goal is to help clients navigate the complexities of Excise Tax while maximizing operational efficiency.
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