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Our Professionals collaborate with our clients to help revolutionize the way that tax compliance is managed by bringing tax and accounting experience, a keen awareness of technology, and the drive to develop novel operating models. Our services consist of:
· Value-Added Tax
· Corporate Tax
· Zakat Tax
· Transfer Pricing
· Tax Accounting
· Tax Managed Services
Value Added Tax (VAT)
SS&CO Is Providing VAT Services In Dubai, Abu Dhabi, Sharjah, Ajman, Ras Al Khaimah and All Over UAE.
Value Added Tax (VAT) Is An Indirect Tax That Is Levied At The Point Of Sale On:
The Consumption Of Goods And Services. UAE Implemented Value Added Tax (VAT) On January 1, 2018, With A 5% VAT Rate. Be It A Small, Medium, Or Large Firm, If You Are A Business Owner In The UAE Or Intend To Plant Your Roots In The Emirates, You Must Register Your Company With The VAT Law.
The Income A Firm Generates Determines Whether Or Not To Register It For VAT. The Following Is The Slab For Entities That Will Be Required To Register For VAT:
Businesses Having Taxable Supplies And Imports Above AED 375,000
Mandated To Apply For VAT Registration
Businesses Having Taxable Supplies And Imports Between AED 187,500 And 375,000 Can Voluntarily Apply For VAT Registration
Businesses Having Taxable Supplies And Imports Less Than AED 187,500 Not Required To Apply For VAT Registration
Yearly payment is required by Islamic law on particular types of property used for religious and charitable purposes, one of Islam's five pillars
Accordingtothemost recentinformationfromMOF(Ministry of Finance),transferpricingrules aimtoensure that relatedpartytransactionsarecarriedoutonanarm'slengthbasis(i.e asifthetransactionwereconductedbetweenindependentparties). Businesses operating in the UAE mustabidebythedocumentationstandardsandtransfer pricing regulationsestablishedundertheOECDTransferPricingGuidelines.
UAE CORPORATE TAX
For fiscal years beginning on or after 1 June 2023, the UAE Ministry of Finance announced on January 31, 2022, the implementation of a federal Corporate Tax in the UAE on business profits.
Corporate tax (CT) –what is it?
A type of direct tax known as corporate tax is assessed on the net profit or income generated by corporations and other legal organisations.
The UAE hopes to accomplish the following by launching the CT:
Solidify its position as a top global centre for business and investment
Speed its growth and transformation to fulfil its strategic goals and reaffirm its dedication to upholding global standards for tax transparency and avoiding unfair tax practices