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
Transfer Pricing
ESR
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
Let's look at what we offer as reputable VAT consultants in Dubai, United Arab Emirates:
- VAT Health Check
- VAT Due Diligence
- Tax Agents in UAE
- VAT Return Filing
- VAT Refund
- VAT Voluntary Disclosure
- Wrong VAT Return
- VAT Voluntary Disclosure Form 211
- Voluntary VAT Registration
- VAT De Registration
- VAT Registration
- VAT Penalty Waivers
Zakat Tax
Yearly payment is required by Islamic law on particular types of property used for religious and charitable purposes, one of Islam’s five pillars
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.
CT’s objectives:
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
Transfer Pricing
Due to the growing impact of transfer pricing on corporate income taxation in the UAE, the use of transfer pricing techniques has recently attracted significant global attention. Since tax authorities investigate transfer pricing operations all around the world, SS&CO can help you create tax-efficient agreements that maximise compliance with laws and regulations while satisfying all of your transfer pricing obligations.
Companies who conduct international business are starting to see the value of transfer pricing. Due to regulatory criteria and monitoring by the tax department, large, medium, and small groups are now more at risk. A number of multinational organisations are increasingly considering the potential cost control alternatives offered by a well-designed transfer pricing model.
Rules on Transfer Pricing in the UAE
The terms and procedures for pricing transfers both within and between businesses that share ownership or control are referred to as transfer pricing. We will help you gain a basic comprehension of transfer pricing laws.
How much does arm’s length cost?
The price that would have been paid in a transaction between two similarly situated independent, unrelated parties, when the consideration is solely commercial, is known as the arm’s length price (ALP).
Economic Substance Regulation
The Economic Substance Regulations mandate that various other company forms, including UAE onshore and free zone businesses, must maintain and be able to demonstrate an adequate “economic presence” in the UAE in relation to the operations they carry out. The Rules’ goal is to make sure UAE entities declare actual earnings that are appropriate for the level of economic activity carried out there.
The ESR penalties can be severe, and they act as a reminder of the importance of making accurate and properly considered ESR notifications and reports.
Companies should go on to the Ministry of Finance Portal and submit their Economic Substance Reports if they have already submitted their Economic Substance Notifications in order to avoid a penalty of AED 50,000.
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