Tax Consulting
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Value Added Tax (VAT) Services
We have experienced tax professionals who are continuously trained and updated with current law changes having impact on taxable areas of the clients. Any update by FTA is reviewed and discussed within the team and an analysis is done to identify the impact of the tax law amendments which is then communicated to the clients on timely basis.
Value Added Tax (VAT) Services
Following are the Value Added Tax Services provided by us:
VAT compliance is a critical function which needs to be monitored on daily basis and for each type of transaction to ensure accurate recording in the books of accounts and correct reporting to FTA within the due date. Organizations choose to appoint professional firms to manage VAT-related tasks and ensure compliance of the same.
Our team has pioneered the art of providing various Value Added Tax (VAT) services in the UAE. Our VAT department is a one stop source for all VAT related needs.
Corporate Tax Services
The Ministry of Finance introduced Corporate Tax Law (Federal Decree Law no. 47 of 2022), w.e.f., 1st June 2023, in UAE on business profits.
The Corporate tax in UAE will be applicable to Juridical person and Natural person.
Our team of highly skilled professionals, with extensive experience serving multinational companies during their tenure at Big 4 consulting firms.
Corporate Tax Services
We provide the following comprehensive Corporate Tax Services;
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Corporate Tax Registration
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Corporate Tax Impact Assessment
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Group structure assessment
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Financials review
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Corporate Tax Return filing
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Transfer Pricing documentation
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Training the client
At ETAA, we specialize in helping businesses seamlessly register for corporate tax and ensure ongoing compliance with UAE tax regulations. Our team of tax experts is here to guide you every step of the way, whether you are a local entity or an international business operating in the UAE.
- Understand & analyze your business,
- Assessment of business operations & transactions
- Review your trial balance, chart of accounts, to align with corporate tax regulation
- Business Segments, Free Zone Vs Mainland, Market Jurisdictions, Supply Chain, Transactions Flows and Substance Tests)
- Tax Computation Analysis (Deductions, Exemptions, Losses and Reliefs)
- Advise on supporting documentation to be maintained for substantiating the tax positions
- Review of existing group structure, trade licenses, entities
- Business entities in mainland, free zone, foreign entities
- Effective Group Tax Rate under various alternatives
Review of financials to align with Accounting standard (IFRS)
Ensure Compliance and Avoid Penalties with Corporate Tax Return Filing
In the UAE, corporate tax return filing is an essential obligation for businesses to remain compliant with the Federal Tax Authority (FTA). With the new tax regulations in effect from June 1, 2023, businesses must file tax returns annually to report their income and calculate their tax liabilities. At ETAA, we provide professional tax return filing services to help your business navigate this process with ease.
- Identification of related parties and, connected persons
- Analyze and implement documentation requirements for the transaction with above person
Training the client internal team on Corporate Tax Law requirements
As per Article 61 of the Corporate Tax Law, opening balances for the 1st tax period are required to be prepared as per IFRS, and transactions between connected persons and related parties shall be reported taking into consideration the arm’s length principle in accordance with Article 34 of the Decree Law.
As per Article 51, of the Corporate Tax Law, every taxable person needs to register for Corporate Tax with the authority.
Transfer Pricing Services
We will assist you in complying with following Transfer Pricing & International Taxation requirements:
- Identify Related Parties & Connected Persons.
- Analyze related party & connect person transaction flows
- Review of existing TP policies & intercompany agreements, TP documentation (Local File & Master File)
- Structuring Advisory and Implementation Support.
- Transfer Pricing Benchmarking Analysis, Advisory and Compliance Support.
- Advising on TP remuneration models.
- Corporate Tax and International Tax Advisory.
- Advice on substance test, appropriate business models and remuneration mechanism from a TP and Tax standpoint.
- Drafting inter-company agreement, Group TP policy, SOPs etc
- Assist with TP Compliances (Disclosure Form, Local File, Master File, Country-by-Country Report)
- Representations before FTA in due course.
Transfer Pricing (TP) refers to the rules and methods for pricing transactions within and between enterprises under common ownership or control.
Taxpayers should apply the arm’s length principle to ensure that the transactions between related parties reflect independent pricing. Such arm’s length price is fairly a market price of such commodity or service.
As per Article 51, of the Corporate Tax Law, every taxable person needs to register for Corporate Tax with the authority.
Tax Residency Certificate
Commercial activities in the UAE are boosting international trade links, but it also gets complicated once it gets trapped in the tax regime. As a result, businesses are now facing the problem of double taxation. To resolve this concern, a tax residency certificate in UAE comes into the equation. The strain of double taxation can be avoided with the tax residence certificate in UAE and the added benefit of a double taxation treaty to follow.
The Ministry of Finance issues a Tax Residency Certificate in UAE, to a company or an individual who meets the requirement of the Law. The tax residence certificate in UAE has a one-year validity period from the date of issue.
Benefits of Tax Residency Certificate (TRC) in UAE:
Our knowledgeable staff will make your job easier by getting the relevant documents and certifications to finish the TRC procedure on time.
It fosters international trade to a significant extent
It validates a person’s or company’s legal recognition in the United Arab Emirates
Avoid paying extra taxes throughout the import-export process
It adds to the strengthening of bilateral business ties
Being a UAE resident includes avoiding paying double taxes and taking advantage of tax breaks
Tax Consulting Services Dubai, UAE.
Scope of Tax Consulting Services in the UAE
ETAA Ease Tax & Accounting Advisory
Call for Consultation
Neha Agarwal | Senior Manager Taxation
FAQ
A tax consultant can provide expert advice on how to manage your taxes, minimize your tax liability, and maximize potential deductions and credits. We offer assistance with tax planning, filing, dealing with audits, and tax-saving strategies tailored to your unique financial situation.
Yes, we provide tax consulting services for both individuals and businesses. Whether you're filing personal taxes or need corporate tax advice, we have the expertise to guide you through the process and ensure compliance with tax laws.
Getting started is easy! Simply contact us to schedule a consultation. During this session, we’ll discuss your tax situation and identify the best strategies and services to meet your needs.
