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SERVICES WE OFFER
Tax Consulting Services with HMA
TAX CONSULTING
We offer all VAT & Excise tax services that you need to ensure compliance with the Federal Tax Authority.
Corporate Tax
Corporate tax (CT) is a form of direct tax levied on the net income or profit of corporations and other entities from their business. Corporate Tax is sometimes also referred to as “Corporate Income Tax (CIT)” or “Business Profits Tax” in other jurisdictions. Our tax experts provide you consultation & training about new corporate tax law and assist you during the registration also.
VAT/Excise Tax Registration Assistance
Anyone registering with the FTA for VAT & Excise has to follow the laid down procedures in respect to Federal Law Number 7 and 8 of 2017. Any discrepancy can result in penalty up to AED 20,000. We will assist you during the registration process to ensure your application is complete all respects.
VAT/Excise Tax Return Filing
After completing the registration for VAT, you are required to file your VAT Return and make related VAT payment within 28 days from the end to your tax period. Once you have registered for Excise Tax , you required to file your Excise Tax Retrun by the 15th day following the end of each tax period.
VAT/Excise Tax Reconsideration
A business entity can apply with FTA to reconsider its decision within 20 business days from notification. The applicant must provide reasons for applying a reconsideration, including an analysis of the alternative treatment which the applicant consider that should have been applied to its case. The FTA reviews the request for reconsideration and issues its decision within 20 business days. The decision is conveyed to the applicant within 5 business days. Importantly, the FTA requires the application to be filled in Arabic only.
VAT/Excise Tax Training & Advisory
Our tax experts also provide short training sessions to cover the various dimensions of VAT & Excise Tax in a lucid way. The concept of VAT & Excise , regulation & administration, compliance mechanism are covered in a comprehensive manner. These training sessions are meant to familiarize your employees with the practical working of VAT & Excise Tax. Our Advisiry services include designing an accounting system to incorporate VAT computation, group VAT, minimizing VAT & Excise Tax related errors, understanding types of penalty for non-compliance, tax on international transactions and tax treatment according to your business activities.
VAT/Excise Tax De-registration
A business is required to deregister with FTA within the given timeframe if it ceases making Taxable Supplies. If the value of the Taxable Supplies made over a period of twelve consective months is less than the Voluntary Registration Threshold i.e. AED 187,500/ and they do not anticipate that they will cross the Voluntry registration threshold during the coming 30 days.
Tax Residence Certificate
UAE has signed agreement with 55 countries to avoid double taxation. A Tax Residency Certificate is one of the official documents issued by the Ministry of Finance. It confirms the tax residence of the company or individual person in a given country. The certificate is issued for those companies who have already registered in the UAE or individual person who has the residency visa.
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