Taxation Service

Dubai Taxation Service

Several parts of the world, including Dubai, impose taxes on businesses as a significant revenue source for the government. Depending on your business type, you’re expected to file your taxes when due. Compliance is non-negotiable for all eligible businesses. That’s why business owners need to stay on top of tax-related matters. But it’s easier said than done. A simpler alternative is to hire reliable taxation services in Dubai. What are these services? How does it work? Keep reading to find out. 

Taxation Service in Dubai

Dubai offers a relatively low-tax environment. From June 2023, the UAE government has introduced a corporate tax rate of 9% which is applicable to all businesses in the region. There are exemptions to this tax rate, such as income on free zone qualifying activities. However, other specific taxes are in place, such as the Value Added Tax (VAT) at a rate of 5%, as well as potential customs duties, excise taxes, and other fees on certain goods.

Dubai’s taxation services primarily revolve around administering these taxes, ensuring compliance, and providing taxation guidance. The Dubai tax authority, along with other relevant government departments, oversees these processes. It’s essential to remember that tax regulations can change, so consulting official government sources or seeking advice from tax professionals will help you navigate the latest requirements accurately. 

Reliable Dubai taxation services typically have features such as extensive knowledge of local tax laws, experienced professionals, transparent pricing, personalized solutions, timely responses, and a good reputation among clients. They should also offer various services including tax planning, compliance, and advisory services to cater to multiple client needs.

Dubai taxation services encompass a range of offerings, including:

Tax Planning: Advising on strategies to minimize tax liabilities while remaining compliant with local regulations.
Tax Compliance: Preparing and filing accurate tax returns and ensuring adherence to all tax-related deadlines.
VAT (Value Added Tax) Services: Helping businesses manage their VAT obligations, including registration, reporting, and payment.
Corporate Tax Services: Guiding companies on their corporate tax obligations and opportunities for deductions and incentives.

International Taxation: Providing advice on cross-border transactions and helping clients navigate international tax treaties.
Tax Audit Support: Offering support during tax audits, helping clients respond to inquiries from tax authorities.
Tax Advisory: Providing strategic advice on various tax matters, such as mergers and acquisitions, business restructurings, and investment decisions.
Tax Dispute Resolution: Assisting clients in resolving disputes with tax authorities, including appealing decisions and negotiating settlements.

These services can vary depending on the specific needs of businesses, and reliable Dubai taxation services typically offer a combination of these offerings to cater to diverse client requirements.

Premia TNC is an excellent example of a reliable taxation service. We’re poised to ease your tax burden through client-oriented services. We understand that tax-related matters are complicated. When you work with us, we allow you to focus on other business aspects. 

Dubai VAT

In Dubai, Value Added Tax (VAT) is implemented. VAT is a consumption tax based on the value added at every stage of production or distribution.

As at September 2021, the standard VAT rate is 5%. This tax applies to a wide range of goods and services, including but not limited to consumer goods, electronics, clothing, and services like hospitality and entertainment.

Businesses meeting specific criteria are required to register for VAT. If a business has a turnover exceeding AED 375,000 in the past year, it is required to register VAT and collect VAT on its sales and submit the collected amount to the Federal Tax Authority (FTA). On the other hand, businesses that are not VAT registered are not obligated to collect VAT on their sales. It’s essential to stay informed about any changes in VAT regulations, so consulting the official website of the UAE Ministry of Finance or seeking advice from a tax professional is recommended. 

Dubai Corporate Tax Registration

Tax Registration is another area where Dubai businesses struggle. As all Dubai businesses must file for Tax Registration, it’s crucial to learn about this process. The following businesses are expected to perform Dubai Corporate Tax Registration;

Businesses with a 0% tax rate – taxable income up to AED 375,000 or income gained from qualifying business activities
Businesses with a 9% tax rate – taxable income over AED 375,000
Businesses with a 15% tax rate – multinationals subject to OECD Base Erosion and Profit-Sharing laws

To perform the Dubai Tax Registration, you’ll need the following documents; 

Valid Copy of Trade License 
Valid Passport copy of the owner/partners who own the license
Valid Emirates ID of the owner/partners who owns the license
Valid Memorandum of Association (MOA) – Or – Power of Attorney (POA)
Valid Concerned person’s contact details (Mobile Number and E-mail).
Valid Contact details of the company (complete address and P.O. Box).
Corporate Tax Period.

Why Choose Premia TNC?

Premia TNC is your premier partner in navigating Dubai’s complex taxation landscape with precision and expertise. As a forward-looking taxation service, we are committed to empowering businesses of all scales to excel in their financial endeavors. Here’s why companies should confidently choose Premia TNC for their taxation needs:

Tailored Tax Solutions

At Premia TNC, we understand that each business is unique. Our seasoned tax professionals craft bespoke solutions that align seamlessly with your company’s goals and operations, ensuring optimal tax planning and compliance.

Local Insight, Global Perspective

Operating within Dubai’s dynamic business environment requires a nuanced understanding of local tax regulations. With our deep-rooted local insights and global perspective, we offer comprehensive strategies that harmonize international best practices with Dubai’s tax framework.

Expertise Across Industries

Whether you’re in finance, technology, manufacturing, or any other sector, our multidisciplinary team possesses a wealth of experience across diverse industries. This enables us to provide industry-specific solutions that address your unique challenges.

Efficiency and Accuracy

We recognize the value of time in business. Our streamlined processes and cutting-edge technology ensure accurate and efficient tax-related operations, allowing you to focus on driving growth without the burden of administrative complexities.

Comprehensive Service Suite

Premia TNC offers a comprehensive range of services beyond taxation, including company incorporation, regulatory compliance, financial advisory, and more. This holistic approach ensures that all aspects of your business are seamlessly aligned.

Compliance Excellence

Dubai’s tax landscape is ever-evolving. Our experts stay ahead of regulatory changes, ensuring your company remains compliant with the latest tax laws and mitigating risks and potential penalties.

Client-Centric Approach

Your success is our priority. We take a client-centric approach, nurturing long-lasting partnerships built on trust, transparency, and open communication. Your satisfaction is the cornerstone of our service philosophy.

Confidentiality and Security

We treat your sensitive financial data with confidentiality and employ robust security measures to safeguard your information.

Results-Driven

Our track record speaks for itself. Premia TNC has helped countless businesses optimize their tax strategies, reduce liabilities, and enhance profitability. Let us drive your financial success story forward.

In the vibrant business landscape of Dubai, choosing Premia TNC as your taxation service partner empowers you to navigate complexities with confidence. Join hands with us to unlock financial excellence and propel your business towards a prosperous future.