Tax Consultants in Dubai

Navigating the tax landscape in Dubai can be tricky, especially with the ever-evolving regulations and tax laws.

Whether you’re a small startup or a large corporation, ensuring your business is compliant with the latest tax policies is crucial.

That’s where GrowbizQuick, a top-notch tax consultancy service provider in Dubai, steps in to offer you the expertise and support you need.

Different Types of Taxes in the UAE

The UAE has introduced several taxes to regulate the market and promote a healthy economic environment. Here’s a quick overview:

Excise Tax: Levied on goods harmful to health or the environment, such as carbonated drinks, tobacco products, and electronic smoking devices.

Value Added Tax (VAT): A consumption tax applied at each point of sale on goods and services, with specific categories like healthcare and education being zero-rated .

• • Value Added Tax (VAT) in the UAE was introduced on January 1, 2018, at a standard rate of 5%. This consumption tax is applied at each stage of the supply chain on the sale of goods and services, ultimately borne by the end consumer.
  • Businesses registered for VAT collect this tax on behalf of the government, and it is applicable to most transactions unless specified otherwise

  • Registration and Compliance

    Businesses must register for VAT if their taxable supplies and imports exceed AED 375,000 annually, with a voluntary registration option available for those exceeding AED 187,500. VAT registered businesses are required to file VAT returns periodically and maintain proper documentation, such as tax invoices.

  • Zero Rated & Exempt Supplies.

  • Certain goods and services are either zero-rated or exempt from VAT:
    
    • Zero-Rated Supplies (charged at 0%):
      
      • Exports of goods and services outside the Gulf Cooperation Council (GCC)
      • International transportation
      • Certain educational and healthcare services
      • Newly constructed residential properties within three years of construction
      • Specific investment-grade precious metals (e.g., gold and silver with 99% purity)
    • Exempt Supplies:
      
      • Financial services
      • Residential properties
      • Bare land
      • Local passenger transpor.

    VAT Refunds

    The UAE also offers VAT refund schemes for tourists, allowing them to reclaim VAT on eligible purchases made during their visit, provided the items are exported upon departure.

  • The minimum receipt amount for a refund is AED 250, and purchases must be made within 90 days of departure.

Corporate Income Tax (CIT)

The United Arab Emirates (UAE) has introduced a corporate income tax (CIT) regime, marking a significant shift from its previous status as a zero-tax jurisdiction. This new tax framework is effective for financial years starting on or after June 1, 2023, and was established through the Federal Decree-Law No. (47) of 2022.

Tax Rates and Thresholds

Under the new CIT law, the tax rates are structured as follows:

• 0% on taxable income up to AED 375,000.
• 9% on taxable income exceeding AED 375,000.

This tiered approach is designed to support small businesses and startups, allowing them to grow without the burden of corporate tax until their profits exceed the specified threshold

Applicability

The corporate tax applies to:

• UAE companies and other entities incorporated or effectively managed in the UAE.
• Natural persons conducting business activities within the UAE.
• Non-resident entities with a permanent establishment in the UAE.

Certain businesses, particularly those in the extraction of natural resources, will continue to be subject to existing Emirate-level tax regulations rather than the federal corporate tax

Exemptions

Several entities are exempt from the corporate tax, including:

• Government entities and government-controlled entities.
• Extractive and non-extractive natural resource businesses.
• Qualifying public benefit entities and investment funds.
• Pension funds subject to regulatory oversight.

Additionally, small businesses with revenues below AED 3 million for all tax periods ending before December 31, 2026, may qualify for relief from corporate tax.

Compliance and Filing

Businesses must register for corporate tax and submit their tax returns within nine months after the end of their financial year.

The first filing deadlines for many companies will be in 2025, depending on their fiscal year-end

The introduction of this corporate tax is part of the UAE’s strategy to align with international tax standards and diversify its economy, reinforcing its position as a global business hub.

For more detailed information on Dubai’s tax policies, you can visit the official Dubai Government website or the Dubai Trade portal.

 

Why Choose GrowbizQuick for Tax Consultation?

When it comes to tax consultation in Dubai, you need a partner who understands the intricacies of UAE’s tax system. 

GrowbizQuick stands out as a reliable and experienced tax consultant in Dubai, offering a comprehensive range of tax-related services tailored to meet the unique needs of your business.

Here’s why you should choose GrowbizQuick:

 

• • Expert Guidance: Our team of tax experts is well-versed in the UAE’s tax laws, including VAT, excise tax, and corporate tax. We help businesses navigate the complexities of tax regulations with ease.

• • Tailored Solutions: We understand that every business is different. That’s why we provide customized tax solutions that align with your business goals.

• • Compliance Assurance: With GrowbizQuick, you can rest assured that your business complies with all tax regulations, avoiding hefty fines and penalties.

• • Cost-Effective Services: We offer affordable tax consultation services without compromising on quality. Our goal is to help you save money while ensuring your business is tax-compliant.

The Importance of Hiring a Tax Consultant in Dubai

 

Hiring a tax consultant in Dubai isn’t just about compliance; it’s about strategic planning and optimizing your financial operations.

Here’s how GrowbizQuick adds value to your business:

 

• • Tax Planning and Strategy: We help you evaluate the pros and cons of your business structure and choose the most suitable VAT schemes, whether voluntary or compulsory. This strategic planning can increase your profitability and reduce costs.

• • Accurate Bookkeeping: Proper bookkeeping is essential for any business. Our experts provide training and support to ensure your records are accurate and up-to-date, saving you time and money in the long run.

• Performance Evaluation: We develop performance evaluation metrics based on market trends, helping you stay ahead of the competition.

Benefits of Tax Consultation Services by GrowbizQuick

At GrowbizQuick, we’re committed to helping you achieve peace of mind through our expert tax services. Here are some of the benefits you’ll enjoy:

 

• • Time-Saving: We take the stress out of tax preparation by handling all the details, so you can focus on running your business.

• • Up-to-Date Information: Our consultants are always up-to-date with the latest changes in tax laws, ensuring that your business stays compliant.

• • Renewal and Audits: We assist with renewing your business permits and licenses and perform audits to ensure your financial statements are in order.

• • Tax Management: Our tax advisors provide effective tax management strategies that can help you lower your tax payments and avoid penalties.

Why GrowbizQuick is Your Best Choice

With years of experience in the field, GrowbizQuick has earned a reputation as one of the most trusted tax consultancy firms in Dubai. We offer more than just tax advice; we provide solutions that drive your business forward.

Our client-centric approach ensures that every business we work with receives personalized attention and support. Whether you need help with VAT registration, excise tax, or any other tax-related service, GrowbizQuick is here to help.

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If you’re ready to take the stress out of tax season, contact us today for a one-hour free consultation. Let GrowbizQuick handle your tax needs while you focus on growing your business.

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FAQ

Why is it advisable to hire a tax consultant in UAE?
Hiring a tax consultant in UAE helps businesses analyze the taxability of transactions, ensures compliance with UAE VAT laws, and provides support in tax planning.

How can a GrowbizQuick tax consultant help in tax services?
Our experts can help you with filing tax returns, performing audits, and offering advice on effective tax management.

What is a tax audit in UAE?
A tax audit in UAE is an official inspection of a company’s financial records to ensure compliance with tax laws.

For more insights, you can explore our detailed guide on tax services on the GrowbizQuick website.