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
An excise tax is a levy levied on specific goods that are considered harmful to human health or the environment. In the UAE, the excise tax is levied on tobacco products, energy drinks, and carbonated beverages. The tax is currently set at 100% for tobacco products and 50% for energy drinks and carbonated beverages. Excise … Read more
In a recent update to virtual assets regulation in Dubai, persons who conduct virtual asset(digital property) activities within the emirate, exempting the Dubai Financial Centre, (DIFC) are compelled to become fully regulated under the emirate’s Virtual Assets Regulatory Authority (VARA). Effective from January 15, 2023, the cabinet resolution mandates that all companies operating in or … Read more
Business owners in the UAE can avail unique opportunities from the UAE corporate tax regime. For any tax complexities that might be faced upon registering and filing corporate tax and to stay compliant with tax regulations, it is advisable for taxable persons to seek the expert services of top tax consultants in UAE. Scope of … Read more
Integrated auditing is a process that combines financial, operational, and compliance audits. The method is increasingly becoming more popular, it ensures businesses are more productive and improve quality. Therefore it is advisable for businesses to outsource the services of approved audit firms in Dubai to integrate inspecting services and to seamlessly combat any audit complexities. … Read more
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