It is imperative for taxable persons to seek the services of top tax consultants in the UAE to seamlessly deregister for corporate tax as per the regulations and standards set by the UAE corporate tax regime. Noncompliance with the corporate tax statute accrues hefty fines upon taxable persons. The Process of Corporate Tax Deregistration in … Read more
One of the taxes imposed on businesses in the UAE is the excise tax(indirect levy) which is applied to specific goods such as tobacco, sugary drinks, and energy drinks. Indirect levy is levied at a standard rate of 50% on tobacco products and 100% on energy drinks and soft drinks containing sugar. However, businesses that … Read more
VAT and Excise Tax have practically become a norm for some businesses in the UAE. The latter — Excise Tax — often raises eyebrows more because it applies only to specified products (tobacco, energy, or carbonated drinks) that the government deems unhealthy for the public or the environment. It’s simply a means of discouraging … Read more
The UAE corporate tax will be applied to the taxable income of taxable persons which includes corporate entities, and individuals engaging in economic activities such as business, commerce, or any other. UAE groups can apply for group relief for losses, intra-group transactions, and reorganizations. Thus, it is advisable for taxable persons to seek the services … Read more
It is been widely known that the Value Added Tax (VAT) rate will be 5%, and recently, there is another tax that has been introduced—the Excise Tax. Excise Tax applied to tobacco, energy drinks, and carbonated drinks. The rates of each are 100%, 100%, and 50%, respectively. The latter is expecting to affect consumers in … Read more
For taxable persons to reduce their corporate tax or levy liability in the UAE, they must ensure compliance with the relevant tax regulations and standards. There are a number of ways that businesses can use to reduce their company tax burden, this includes utilizing deductions, depreciating assets, or using tax-efficient structures. Therefore, it is imperative … Read more
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