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Choosing the right tax consultant in Dubai with relevant experience is imperative for you to manage taxes and run a business seamlessly. Sarah Ferguson is a trusted tax consultancy firm dedicated to providing Corporate Tax Services to organizations all across the UAE. With years of experience at hand, our professional tax consultants help businesses comply with both national and international tax standards. Contact us today for more information or to book an appointment.
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The Role of Tax Consultants
Like people, businesses and their owners also require tax assistance. In fact, the regulations
governing company
taxes are more complex than those governing individual income taxes.
That's where tax consulting firms come into
play. Here's what you can expect from
professional tax service and consultancy companies:
Advising on Tax laws
& Regulations
Preparing
for FTA
Company Registration
Formalities
Consultancy on VAT
Compliances
Auditing Tax
Reports
Providing Bookkeeping
Support
Benefits of Hiring a Tax Consultancy Services
in Dubai, UAE
Tax consultancy services in the UAE help individuals and businesses file their taxes, offer
professional guidance,
and help them with their tax returns. Take a look at some reasons
why you should consider hiring
a tax consultancy company.
Credible Information
Tax consultants in Dubai provide vital information regarding business taxation and tax management.
Save Time
From auditing to preparing tax returns, a top-of-the-line tax consultancy firm can help you process everything on time.
Legal Expertise
Whether you need a renewed business permit or want to register for VAT, tax consultants can make your life a lot easier.
Expert Support
Having an expert tax agency manage your taxes gives you peace of mind and allows for accurate and organized tax documentation.
Different Types of Taxes in the UAE
The UAE has long been known for its tax-friendly environment, but over time, several tax forms have been introduced to adapt to the evolving economic landscape. Here’s an overview of the key types of taxes in the UAE
- Excise Tax
Excise tax is an indirect tax applied to specific products that are deemed harmful to human health or the environment. These products include:
- Carbonated drinks: Any aerated beverages, excluding unflavored aerated water.
- Energy drinks: Beverages marketed as energy-boosting and containing stimulants that enhance mental and physical performance.
- Tobacco and tobacco products: Including all types of smoking products.
- Electronic smoking devices and tools: Equipment used for smoking alternatives.
- Liquids for electronic smoking devices: Liquids used in e-cigarettes or similar devices.
- Sweetened drinks: Any beverages with added sugar or sweeteners.
- Taxable Supplies
- Commercial properties.
- Retail purchases, car sales, and rentals.
- Hotels, restaurants, and other hospitality services.
- Repair and maintenance services.
- Zero-rated Supplies:
- Education services.
- Healthcare services, including medicines and medical equipment.
- Investment in precious metals like gold, silver, and platinum.
- Exports and international transport services.
- Crude oil and natural gas.
- The first sale of residential properties.
- Tourism Taxes
Hotels, resorts, and other accommodations in the UAE may impose the following taxes on guests:
- A 10% tax on room rates.
- A 10% service charge.
- Municipality fees ranging from 6% to 10%.
- A city tax of 6% to 10%.
- A 6% tourism fee.
In Dubai, a "Tourism Dirham Fee" ranging from AED 7 to 20 per room per night (depending on the hotel grade) is charged. In Abu Dhabi, hotels levy a 4% fee on the total bill along with an AED 15 per night charge. In Ras Al Khaimah, a tourism fee of AED 15 per night per room applies.
Importance of Tax Consultancy Services
Paying taxes is a crucial responsibility for any business in the UAE, as tax revenues contribute to the country's growth and development. Tax accounting ensures compliance with tax regulations through proper filing of returns. A single error in the process could result in significant financial losses for businesses. Therefore, it is vital to be cautious when preparing tax accounts.
Key Points to Keep in Mind:
- Every business is obligated to pay taxes regularly.
- Familiarize yourself with tax laws and stay updated to avoid any legal repercussions.
- Ensure timely registration to prevent late fees or penalties.
- Maintain and monitor all relevant tax documents consistently.
- Budget for tax payments in advance to avoid financial strain during filing periods.
- Ensure accurate tax calculations to avoid overpaying.
Benefits of Tax Consultancy Services
- Strategic Planning: Tax consultants provide crucial insights into your business, helping to navigate complex tax regulations.
- Efficiency: They streamline the process of preparing tax returns, saving you time and effort.
- Up-to-Date Knowledge: Tax advisors stay informed on changes in tax policies, ensuring compliance with the latest rules.
- Assistance with Tax Filing: Consultants can handle the filing of income tax returns and audited financial statements, ensuring accuracy.
- License Renewal Support: They assist in renewing business permits and licenses and manage audits on your behalf.
- Financial Organization: They help maintain well-organized financial records, reducing stress and ensuring all receipts are properly documented.
- Accurate Tax Computation: Advisors offer guidance on precise tax calculations, helping you avoid overpaying and reducing tax liabilities.
- Penalty Prevention: They develop strategies to avoid future penalties and interest charges.
- Compliance Confidence: With their expertise, you can feel confident in meeting government and accounting reporting requirements, giving you peace of mind.
Ongoing Offers
Check out our exclusive offers for VAT, Bookkeeping and Accounting services
Why Hire Sarah Ferguson For Tax Consultancy
Services?
Sarah Ferguson Tax Consultancy, a leading tax consultancy service firm in Dubai, United Arab Emirates (UAE) offers an extensive range of comprehensive tax consulting services. With an established team of
professionals, we can help you manage your company’s tax structure and help you ensure compliance.
Thus, if you’re looking for a reliable and professional tax consultant in Dubai, your search ends here. Our FTA Certified Tax Consultants serve across the UAE, including Abu Dhabi. Our services include but
are not limited to:
- Accounting Services
- Tax Management and Tax Consultation
- Tax Audit
- Corporate Tax Services
- Balance Sheets Preparation
- Bookkeeping Services
- VAT Consultancy Services
- Dedicated CPAs
Want to know more? We’re always happy to answer
your questions. Send us a mail or
contact us today.
Experts in Tax Consulting Services in Dubai, UAE
Value Added Tax (VAT) is a tax levied at every point of sale on the consumption or use of goods and services. The UAE government implemented it as an indirect tax on January 1, 2018. Consumers pay the VAT by paying an additional 5% for taxable goods and services they buy in the UAE. Businesses must comply with all rules and regulations associated with UAE VAT registration and collection. With our proficiency in implementing and interpreting VAT, we offer end-to-end VAT advisory services including VAT registration and return services to facilitate smoother business operations.
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