#Excise compliance in the UAE

[goviinbookkeepingblog]

tax consultants in Dubai

[nordholm]

Best Expert Tax Services in Dubai for Investor Success - Nordholm

Welcome to Nordholm Accounting and Bookkeeping Services, a subsidiary managed by Swiss entity Nordholm Investments, dedicated to guiding investors through the intricate landscape of business growth in the UAE, particularly concerning Tax Services in Dubai. Our suite of services encompasses the entire gamut of business establishment, visa processing, bank account setup, HR solutions, payroll management, VAT compliance, and comprehensive accounting services.

Navigating Dubai's intricate business environment necessitates meticulous attention to tax compliance and accurate financial records. Entrusting these critical tasks to seasoned professionals is essential for seamless operations while ensuring strict adherence to diverse tax regulations.

Our range of Tax Services in Dubai includes comprehensive assistance in various areas:

Corporate Tax Advisory: Although Dubai imposes no corporate or income taxes on individuals and corporations, specific considerations apply to branches of foreign entities. Our experts offer strategic guidance, ensuring compliance with applicable regulations and optimizing financial strategies within this unique tax framework.

VAT Compliance Expertise: Operating under a Value Added Tax (VAT) system, Dubai mandates compliance with VAT regulations. Our specialized services assist businesses in Navigating VAT intricacies, timely filing of returns, and implementing strategies to effectively manage VAT liabilities.

Navigating Customs Duties: For businesses involved in importing or exporting goods, understanding and adhering to customs duties are critical. Our services encompass navigating customs regulations, duty exemptions, and ensuring meticulous documentation to mitigate duty-related risks.

Expertise in Excise Taxes: Dubai imposes excise taxes on specific goods like tobacco, sugary drinks, and energy drinks. Our services aid businesses in understanding, reporting, and complying with these taxes, ensuring adherence to statutory requirements.

Tailored Industry-Specific Tax Guidance: Certain industries in Dubai might face specific taxes or levies. We provide tailored guidance to ensure compliance with industry-specific tax obligations, such as tourism-related taxes or real estate-related fees.

At Nordholm Accounting and Bookkeeping Services, we're committed to providing comprehensive support for investors navigating Dubai's multifaceted business landscape, especially regarding Tax Services. Partner with us for expert guidance, ensuring compliance and strategic positioning for sustainable growth in this dynamic market.

[savvysetup]

Top Benefits of Hiring Tax and Return Filing in the UAE Consultant

When you setup a new business or are managing one, you need to ensure the taxes are proper. It will ensure seamless management of transactions and help achieve business success. The addition of Value Added Tax to the corporate tax regulations. This has led to an increase in the compliance requirements as well.

It is crucial to understand and navigate these tax complexities to ensure you are meeting the regulations. However, your in-house team may lack the expertise needed to handle the new tax regulations needed for tax and return filing in the UAE. That’s why you should hire the consultant. Here are all the benefits associated with hiring the tax consultant for handling tax regulations.

• They have the knowledge and in-depth understanding of tax laws that are rampant in UAE. Moreover, they would be aware of the upcoming taxations and regulations for the country. If you were to perform the taxations in-house, you need to ensure you are updated with the latest compliances. That can impact your core work and operations. The tax consultants are professionals and have the specific knowledge of UAE laws. As a result, they are well-versed with the corporate taxes, excise duties and VAT applicable in the country. They will make sure your business complies with the latest regulations and reduces the risk of penalties that accompany non-compliance, especially with company setup in Dubai.

• They file the taxes accurately, which helps avoid taxes. It can ensure the perfect reputation needed, especially with the regulatory authorities like Federal Tax Authority (FTA). With the tax consultants, you can ensure that the calculations made during preparing and filing the taxes are precise and supported with the right documentations. They use a meticulous approach, which will reduce the risks and errors associated with handling taxes, thus reducing the chances of increased expenses.

• When you outsource the taxes to a consultant or professional company, you don’t need to go through the resource-intensive task inhouse. This is cost-effective, especially if you are a small or medium sized business. with the tax consultant managing the tax and return filing in the UAE, you can manage the core functions while your tax is managed seamlessly. There is an upfront cost associated with hiring the tax consultant, but it would help optimize the tax savings and ensure proper deductions/exemptions. You are not likely to overlook any regulation that is important for the business.

• No two businesses have the same operational or financial structure. As a result, their documentation and other aspects would be different. You need to ensure there is a personalized approach taken for each type of taxation needs proposed by the business. a tax consultant or professional can ensure that the tax strategies are properly aligned with your needs or goals. They will help with structuring the transactions, minimizing tax burdens and planning for long-term growth to ensure your business stays competitive.

• Tax audits is another important reason to hire a professional for the job. They will ensure that the records are kept properly to reduce document related risks and inaccuracies. They will also represent your business to minimize the disruptions in the company setup in Dubai.

[thefirstcheckconsultant]

A Guide to Choosing The Best Audit Firm in 2025 in UAE

Choosing the best audit firm from the accounting companies in UAE needs certain considerations and requirements to be performed for a business domain. With the following guide, you can take the firm decision to select the best accounting firm in Abu Dhabi in 2025.

Identify your requirements

There is availability of numerous accounting and bookkeeping companies in UAE, for selecting the best one always identify the type of audit you are in need of as - financial, forensic, compliance or internal audit. Evaluate the workings of the audit firms who have expertise with in your industry, so as to analyse the scaling of the audit firm to handle with the complexities of a firm.

Assess with Regulatory Compliance

Take a research in evaluating the assess of the accounting companies in UAE, whether they are expertise in UAE Vat laws, Corporate tax or in the Excise tax. Always ensure that the firm follows International Financial Reporting Standards for being compliance with UAE regulatory compliance. The firm must adhere all the free zone regulations and federal economic legislation too.

Evaluate Team Expertise

Always checkout the team of the concerned accounting firm in UAE if they are experienced in your business sector. Evaluate their team of professionals including Charted Accountants, Certified Public Accountants and so on. The diversity and multilingual capabilities of an audit firm in UAE plays the crucial role in the seamless and effective client’s engagement as multilingual auditors cal liaise with the foreign investors aligning for the global compliance with the UAE requirements.

Credential Evaluation

Check the reviews, references and the testimonials for analyzing the firm’s reputation. Always choose the firm who has already proven themselves as the best internal audit consultants in UAE. Check if the audit firm is approved by the authorities like Dubai Financial Services Authority, Abu Dhabi Global Market and Ministry of Economy.

Evaluate Customer Service and Communication

Ensure about the customer service of the audit firm weather they provide the regular updates and reports for the auditing process. Ensure about their effectiveness and quirky response for the queries generated. Check if they can provide the tailored solutions for the different approaches or the observations. Ensure that the firm uses modern audit tools and software for the efficiency.

Requesting Proposals

The audit firms which you have shortlisted, ask them for the detailed proposals and also compare their offerings and the client reference. This process is critical for ensuring that the audit firm you are choosing aligns with the basic needs of your business and provides the best value to you. This proposal includes negotiate fees, timelines and deliverable with the selected firm.

Contemplate accessibility with Location

If you are operating in a free zone, always select the firm which are familiar with the specific rules and regulations. Choose an accounting firm in Abu Dhabi whose office is near by the location of your office area or within your emirate for the convenience. And also ensure about the firm to provide you the clear breakdown of the cost which must be aligned with your budget and without compromising with the quality work.

By following this approach you will evaluate the value of the services; the auditing firm is offering you and helps you in selecting the right internal audit consultants in UAE.

Wrap-up

The First Check Consultants focuses on UAE businesses and regulatory requirements whose expertise team always provides unique insights into the market trends and business strategies in multicultural environment of UAE’s globalized market.

[legalconsultingblog]

How do lawyers in Sharjah handle tax disputes for businesses?

Tax disputes can present significant challenges for businesses in the UAE, including Sharjah. The UAE’s tax system, while relatively new, has seen rapid development with the introduction of VAT, excise taxes, and corporate tax laws. As a result, businesses may find themselves facing complex issues related to tax compliance, audits, penalties, and disputes with tax authorities. Lawyers in Sharjah…

[vanguarduae]

Best VAT Services in the UAE| VAT Registration and Compliance UAE

VANGUARD ACCOUNTANTS & TAX CONSULTANTS delivers expert VAT and excise tax solutions, including compliance, advisory, and strategic planning, ensuring businesses in the UAE stay compliant, optimise taxes and minimise risks effectively.

[rbsauditing12]

What Is Excise Tax Registration and Return Filing, and How Can You Benefit From It?

Excise tax registration and return filing is a crucial process for businesses that deal with specific goods and services subject to excise tax, such as tobacco, energy drinks, and carbonated beverages. If your business is involved in producing or distributing these products, it is essential to understand how excise tax registration and return filing work. This guide will help you navigate the process, ensuring compliance with the law and avoiding penalties.

What Is Excise Tax?

Excise tax is a tax levied on certain goods that are harmful to human health or the environment. In many countries, including the UAE, excise tax is applied to products like tobacco, alcohol, sugary drinks, and other harmful goods. The purpose of this tax is to reduce consumption of these products and encourage healthier lifestyles. As a business dealing with excisable goods, you are required by law to register for excise tax and file returns regularly.

Why Is Excise Tax Registration Important?

Excise tax registration is mandatory for businesses that import, produce, or stock excisable goods. Failing to register for excise tax can lead to severe penalties and legal issues. By completing the excise tax registration process, you ensure that your business is operating legally and is in compliance with the tax authorities' regulations.

Additionally, excise tax registration allows your business to stay on top of tax obligations and avoid any potential delays or fines. It also demonstrates that your business is committed to meeting legal requirements, which can enhance your reputation among customers and stakeholders.

How Can You Register for Excise Tax?

Registering for excise tax involves submitting your business information to the tax authorities. In the UAE, businesses can register for excise tax through the Federal Tax Authority (FTA) online portal. The registration process is straightforward and involves providing details such as your company name, license number, and the type of excisable goods you deal with.

After completing the registration process, the FTA will provide your business with an excise tax registration number, which you will use when filing returns and paying taxes.

What Is Excise Tax Return Filing?

Once your business is registered for excise tax, you are required to file excise tax returns regularly. Return filing is the process of reporting the excise tax you owe to the tax authorities. This includes the total value of the excisable goods you have sold or imported and the excise tax amount due.

Excise tax returns must be filed at the end of each tax period, which is usually monthly or quarterly. Timely and accurate return filing is essential to avoid penalties and maintain a good standing with the tax authorities.

What Are the Steps Involved in Excise Tax Return Filing?

Recordkeeping: Keep detailed records of all transactions involving excisable goods, including sales, imports, and stock levels. This will make the return filing process smoother and ensure accuracy.

Calculate Tax Due: Based on the excisable goods sold or imported, calculate the total excise tax owed. The excise tax rate varies depending on the type of product, so it is important to apply the correct rates.

Submit Returns: Use the online portal provided by the Federal Tax Authority (FTA) to submit your excise tax return. Ensure that all details are accurate and that you submit the return before the deadline.

Pay the Tax: Once you have filed your excise tax return, you must pay the tax owed within the specified time frame. Delays in payment can lead to penalties.

Why Is Timely Excise Tax Return Filing Important?

Filing your excise tax returns on time is crucial for several reasons. First, it helps you avoid fines and penalties that can arise from late filing. Second, it keeps your business in compliance with tax regulations, reducing the risk of audits or other legal issues. Lastly, timely filing ensures that you maintain good standing with the tax authorities, which is essential for smooth business operations.

What Are the Penalties for Non-Compliance?

Non-compliance with excise tax registration and return filing requirements can result in significant penalties. These penalties can include fines, interest on unpaid tax, and, in severe cases, suspension of your business license. By staying compliant and filing your returns on time, you can avoid these costly consequences.

How Can RBS Auditing Assist You With Excise Tax Registration and Return Filing?

At RBS Auditing, we understand the complexities of excise tax registration and return filing. Our team of tax experts is here to help you navigate the process and ensure that your business remains compliant with all tax regulations. Whether you are registering for excise tax for the first time or need assistance with filing returns, we offer tailored services to meet your needs.

With our expertise, you can focus on growing your business while we handle your tax obligations. We will ensure that your returns are filed accurately and on time, helping you avoid penalties and maintain a smooth relationship with the tax authorities.

Conclusion

Excise tax registration and return filing are essential for businesses dealing with excisable goods. By understanding the process and staying compliant with tax regulations, you can avoid penalties and ensure that your business operates legally. If you need assistance with excise tax registration or return filing, RBS Auditing is here to help. Contact us today to learn more about how we can support your business in meeting its tax obligations.

[elevateaccounting]

Why Your Business Needs a JAFZA Approved Auditor: Ensuring Compliance and Financial Integrity

If your company is registered in the Jebel Ali Free Zone (JAFZA), ensuring compliance with the JAFZA regulations is crucial for maintaining your business operations. One of the primary requirements is conducting an annual audit with a JAFZA Approved Auditor. These audits are not just a regulatory formality but a key step in securing your company's financial health and enhancing its credibility in the UAE business landscape.

What Is the Role of JAFZA Approved Auditors?

A JAFZA Approved Auditor plays a critical role in evaluating your company’s financial records to ensure they comply with the Implementing Regulations laid out by JAFZA. These auditors verify whether your financial statements reflect the true state of your company’s finances and ensure they align with local and international accounting standards. Their report is crucial for renewing your trade license and identifying any discrepancies that could impact your business.

Why Is Auditing Important for Companies in JAFZA?

Auditing your company with a JAFZA Approved Auditor provides multiple benefits beyond compliance. Here are some key reasons why businesses in the Jebel Ali Free Zone should prioritize an annual audit:

Regulatory Compliance: JAFZA requires all companies to submit an annual audit report from an approved auditor to renew their trade licenses. Failure to comply can result in penalties or complications in license renewal.

Financial Transparency: Auditors in JAFZA ensure that your financial statements provide a true and fair view of your company’s financial performance, increasing transparency for shareholders, investors, and financial institutions.

Fraud Detection: An audit report can uncover potential financial mismanagement, fraud, or errors within your organization. With an expert JAFZA Approved Auditor, you can detect and resolve these issues early.

Credibility with Stakeholders: Audited financial statements enhance your credibility with banks, government authorities, and investors. This is essential when seeking funding, partnerships, or contracts, as it shows your company operates transparently and responsibly.

Improved Internal Controls: By working with auditors in JAFZA, you can identify weaknesses in your internal control systems and address them, making your business more efficient and secure.

Tax Compliance: Auditors also ensure your accounts are VAT-compliant and in agreement with your accounting records. Proper VAT compliance avoids legal trouble and ensures smooth operations.

Documents Required for JAFZA Audits

To ensure a smooth audit process, companies must provide certain financial documents. These include:

Bank statements

Credit/debit transaction confirmations

Copies of bills and invoices

Statement of deposits

Memorandum and Articles of Association (MOA and AOA)

VAT and excise tax registration details

Trade license

Complete books of accounts

By preparing and maintaining these documents, your JAFZA Approved Auditor can conduct a thorough and accurate audit, ensuring compliance with local regulations and contributing to your company’s financial health.

Why Choose Elevate Accounting & Auditing as Your JAFZA Approved Auditor?

At Elevate Accounting & Auditing, we specialize in providing professional auditing services for companies operating in JAFZA. As a JAFZA Approved Auditor, our team ensures that your company’s financial statements comply with JAFZA regulations and present an accurate and reliable overview of your financial position. Our expert auditors work diligently to help you streamline your accounting processes, improve internal controls, and enhance your company’s credibility in the market.

We aim to deliver quality audit reports that facilitate your trade license renewal, mitigate risks, and uncover any financial discrepancies that could impact your business. With Elevate Accounting & Auditing, you can confidently meet the regulatory requirements of JAFZA while driving your business growth.

Conclusion

Partnering with a JAFZA Approved Auditor is essential for businesses operating in the Jebel Ali Free Zone. Not only does it ensure compliance with mandatory regulations, but it also strengthens your financial practices, enhances transparency, and increases your credibility with stakeholders. 

By choosing Elevate Accounting & Auditing for your auditing needs, you can ensure accurate, professional, and timely audits that keep your business on track for continued success in the UAE.

Need assistance with your annual audit? 

Contact Elevate Accounting & Auditing today and consult with one of our experts to ensure a smooth and compliant audit process in JAFZA.

Visit us at: https://elevateauditing.com/

[shuraatax]

How to Calculate Excise Tax in UAE

The United Arab Emirates introduced the Excise tax system in October 2017. This tax is an indirect tax imposed on a variety of commodities throughout production, import, and sale. The primary objective of initiating this tax is to generate revenue for the government and to discourage customers from consuming harmful products like tobacco, cigarettes, fizzy drinks, energy drinks, etc. Nevertheless, to ensure compliance with its regulations, businesses must know how to calculate excise tax in UAE in order to determine their liability accurately. The tax consultants at Shuraa Tax will be helpful and supportive in understanding, calculating, and filing excise tax returns in the UAE.

[masarca]

EXCISE TAX SERVICES IN DUBAI, UAE

The United Arab Emirates (UAE) has implemented an excise tax on certain goods, including tobacco products, energy drinks, and carbonated drinks. The tax is applied at a rate of 100% on the taxable value of these goods. Which includes the cost of the goods, and customs duties. And other charges incurred in bringing the goods to the UAE. The excise tax in UAE is intended to reduce the consumption of these goods. Which are believed to have negative impacts on public health and the environment. The tax is administered by the Federal Tax Authority of the UAE. MASAR is an FTA approved Tax Agency in UAE and Provides the Best Excise tax Services in UAE

EXCISE TAX REGISTRATION SERVICES:

If you are a business that manufactures, imports or distributes taxable goods in the United Arab Emirates (UAE). You are required to register for excise tax with the Federal Tax Authority (FTA). Excise tax registration in UAE is a necessary step for businesses that are involved in the supply chain of taxable goods. Including manufacturers, importers, storage facility operators, and wholesalers. To register for excise tax. You will need to complete an online registration form on the FTA’s website. And submit it along with supporting documents. Such as your trade license and a copy of your passport. After your registration is approved, you will be issued an excise tax registration number. Which you will need to use when filing your excise tax returns and making tax payments. If you need assistance with the excise tax registration process, you can contact the FTA for guidance. You may also want to consider seeking the help of a tax professional or a legal advisor. To ensure that you meet all of the requirements and compliance obligations.

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UAE Corporate Tax: FTA Urges Registration by May 31 for Specific License Holders

The Federal Tax Authority (FTA) has issued a directive urging certain license holders subject to corporate tax to register by May 31, 2024. The directive applies to resident juridical persons with licenses issued in January and February, regardless of the issuance year.

Emphasizing the importance of adhering to this deadline, the FTA has highlighted the significance of aligning with Decision No.3 of 2024, effective since March 1, 2024. Non-compliance may lead to administrative penalties.

The FTA has specified deadlines for both resident and non-resident juridical and natural persons to apply for corporate tax registration. Failure to meet these deadlines may result in penalties.

Stakeholders are urged to consult the Corporate Tax Law and relevant guides available on the FTA website. To facilitate registration, the FTA provides EmaraTax, a digital platform accessible at all times. Businesses can complete registration in approximately 30 minutes using this platform, especially if they are already registered for VAT or excise tax. Upon approval, applicants will receive a Tax Registration Number (TRN) for corporate tax purposes.

[goviinbookkeepingblog]

Simplify Your Excise Registration with Goviin Bookkeeping

Unlock the benefits of excise registration with Goviin Bookkeeping. Our expert team ensures your business complies with all regulatory requirements seamlessly. Visit our service page to learn more about the excise registration process, required documentation, and how we can simplify the experience for you. Stay ahead with professional guidance and comprehensive support from Goviin Bookkeeping.

Goviin Bookkeeping Excise Registration

[deadline-for-corporate-tax]

Deadlines for Corporate Tax Registration Application in the UAE

The Ministry of Finance has announced Cabinet Decision No. 10 of 2024, which modifies the list of infractions and administrative fines outlined in Cabinet Decision No. 75 of 2023 regarding penalties for breaches related to the enforcement of Federal Decree-Law No. 47 of 2022 concerning corporate and business taxation. This new decision will be effective starting March 1, 2024.

Under this decision, businesses failing to submit their applications for UAE Corporate Tax registration within the specified timelines set by the Federal Tax Authority will face an administrative penalty of AED10,000. The introduction of this penalty aims to promote compliance with tax regulations, encouraging timely registration for corporate tax. The penalty amount for late tax registration is in line with penalties for delayed registration for excise tax and value-added tax, ensuring consistency across tax-related penalties.

[suraaalbark09]

"Your Excise Tax Partner in the UAE: Suraa Al Bark's Expertise"

Welcome to Suraa Al Bark Excise Tax Service, your premier partner for excise tax solutions in the United Arab Emirates (UAE). In a dynamic and ever-evolving fiscal landscape, we stand as your trusted advisors, providing a comprehensive suite of services to help individuals and businesses navigate the intricacies of excise tax with ease and confidence.

Why Choose Suraa Al Bark?

Expertise: Our team comprises seasoned tax professionals with a profound knowledge of UAE excise tax laws. Personalized Service: We tailor our services to your unique needs, whether you are an individual collector or a business entity. Reliability: Count on us for precise and reliable excise tax services, granting you peace of mind. Confidentiality: Your financial information and tax matters are treated with the utmost discretion. Cost-Effective: Our competitive pricing ensures that you receive exceptional value for your investment.

Suraa Al Bark is committed to supporting you in your excise tax journey in the UAE. With our expertise and dedication, we are your partners in compliance and financial success.

[thefirstcheckconsultant]

The First Check Consultant is a business set up consultants in UAE which primarily deals in Corporate tax services in UAE including VAT and Corporation Tax, audit and assurance, compliance and risk management, etc. The team of experienced professionals will help you to navigate the complexities of UAE taxation policies and ensuring you the compliance and fully optimizing tax liabilities.

[akshaya890]

Tax Consultants UAE | Your Trusted Tax Advisory Firm | Tax Agent

We work closely with our clients to develop personalized tax strategies that maximize their financial potential. We offer a full range of corporate tax services, including tax compliance, planning, & structuring, also advice on consolidations and investments. In addition to our services, we offer proficiency in VAT and Excise tax. Our experienced team can guide VAT registration, tax compliance, filing, excise tax compliance, and planning. We believe in building lasting relationships with our clients, and our commitment to providing exceptional service is at the core of everything we do. So, whether you are a large corporation or a small business owner, we are here to help you navigate the complexities of the tax society and achieve your financial goals. Please explore our website to learn more about our services, and contact us to schedule a consultation.Learn More