Taxation is a crucial element of understanding a country's business environment. If you're thinking about starting or transferring a business in Dubai, taxes will play a major part in the business planning process to owe as little as legally possible. When it comes to taxation in Dubai, it's integral to work with tax and business advisors who are dedicated to staying on top of tax regulations to help you stay compliant.
Dubai doesn't assess income taxes on businesses aside from banks and oil companies. However, the Federal Tax Authority recently issued VAT requirements that your business may be subject to. If you already have a Tax Registration Number (TRN), you do not need an additional VAT certificate. Your business may need to register for VAT depending on the amount of taxable supplies on hand and other criteria. Because the VAT is being computed based on the value of imported goods and services, opposed to profits, this is causing a lot of confusion among business owners and nationals who do business in Dubai.
WHY YOU SHOULD WORK WITH PROFESSIONAL TAX ADVISORS TO UNDERSTAND TAXATION IN DUBAI
At Maitha Alzaabi Auditing, our tax law specialists have a dedicated focus on tax issues that affect business owners in Dubai. Taxation in Dubai may not be as complex as business taxes in the western world, but it still has various degrees of nuance. For example, unregistered businesses are not legally allowed to send tax invoices or they face steep penalties. Not all businesses are eligible to get a TRN as well.
Staying compliant with tax laws and other business regulations is incredibly important if you want to stay in business with minimal disruptions. However, those compliance measures can also be extremely difficult and costly to stay up to date on and there's only so much time. By working with professional advisors, you have the peace of mind that all of your compliance checks are accurate and timely as the laws update. You can trust that Maitha Alzaabi Auditing stays on top of the latest tax law changes so that you don't have to. We can handle your VAT certification and inquires and other tax-related concerns so that you can focus on running and growing your business.
Our tax advisors know the tax laws in Dubai and intricacies of doing business in the UAE so that you don't need to strain your resources and time on doing foreign tax research. We can assist you with starting or migrating your business with little or disruptions. VAT computation can cause additional burdens that the right professionals can help alleviate. Maitha Alzaabi Auditing's world-class tax professionals can help you determine if your business is required to register for VAT, obtain any appropriate certificates as needed, and compute your tax bill.