SERVICES
Tax Consultancy Services
Businesses grow and thrive when the attention of the leadership is focused on their core competencies. Their sights should be trained on the next big product launch or foray into a new market and not on accounting or tax planning. These are best left to experts like us who can help you do your business with much ease and no worries.
Our team of tax experts helps you handle tax-related matters both in UAE as well as abroad. We provide customized tax solutions to individuals and business owners, after intensive analyses of their financial details. At GDT, we empower clients to take informed decisions to mitigate their tax liabilities.
Services included in Tax Consultancy
Value Added Tax (VAT)
VAT was introduced in UAE in 2018 along with GCC. The general VAT rate applicable to most goods and services is 5%, but there are a few exemptions to this. The Federal Tax Authority(FDA) mandates a specific form of record-keeping as part of compliance and businesses failing to do so are likely to attract hefty penalties.
At GDT, we assure timely compliance with fast-changing VAT regulations. We assist in the following areas
- VAT registration for individual companies or groups
- Filing of monthly or quarterly VAT returns
- Refund of excess input VAT
- Tax Audit
- Penalty reconsiderations
Corporate Tax
In January 2022, the Ministry of Finance of the UAE announced the introduction of a Federal Corporate Tax on business profits, effective from the financial year beginning June 1, 2023. It will be levied at the rate of 9% on a net profit of AED 375,000(USD 100,000).
It is mandatory for a business that falls within the ambit of CP to register with the FTA and obtain the Tax Registration Number. All such companies, including the ones in Free Zones, are obligated to file returns under UAE Corporate Tax Public Consultation Document. Also, Free Zone companies can avail of the benefit of 0% tax only subject to the audit of their financials.
GDT can assist you in:
- Analyzing the applicability of Tax to the Company
- Restructuring the Business model
- Applicability of withholding taxes on Cross border transactions
- Filing of Annual returns
- Assist the businesses in Tax Grouping and file the taxes as one fiscal unit
Tax Residency Certification
A Tax Residency Certificate is a document issued by the Ministry of Finance, UAE, confirming the country of tax residence for a company registered in the UAE, as well as individuals residing in the UAE. By obtaining this certificate, companies and individuals can take advantage of agreements of double taxation avoidance on income signed by the UAE with more than 65 countries. It is particularly beneficial to foreign investors and companies from other taxable jurisdictions.
We at GDT can guide you in procuring Tax Residency Certification.