We assist businesses and people in understanding and dealing with a country’s tax system.
Tax preparation, tax analysis, tax return submission, and tax payments are all part of our tax advisory services in the UAE.
How do we add value to the company?
Choosing a tax advisor is a preferable alternative because it makes a company or individual knowledgeable of the country’s tax rules. Tax accountants assist in the preparation of tax accounting for tax purposes.
We provide value to your company by: –
- evaluating the advantages and disadvantages of your company structure
- assisting you in selecting the appropriate VAT schemes – voluntary or mandatory
- increasing profitability and lowering expenses through efficient techniques
- Reducing your tax liability by staying up to date on the latest tax policies
- Appropriate bookkeeping education that saves you time and money
- Developing metrics-based performance evaluations to assess market trends
Types of Taxes in the United Arab Emirates:
The UAE government has always made an effort to make the country’s tax climate as friendly as possible. The United Arab Emirates has introduced a variety of tax kinds over time.
- Excise tax is a type of indirect tax levied on certain goods that are often harmful to people’s health or the environment. The following items must be registered as excise products:
- A carbonated drink is any aerated beverage with the exception of unflavored aerated water.
- Energy drinks are described as beverages that contain stimulant ingredients that provide mental and physical stimulation and are promoted or sold as such.
- Tobacco and tobacco-related items are prohibited (tobacco and tobacco-related products)
- Electronic smoking devices and tools
- Drinks with added sugar• Liquids used in devices and tools
VAT (Value Added Tax)
VAT (Value Added Tax) is a tax paid on the consumption or use of goods and services at every every point of sale. VAT (Value Added Tax) is a tax paid on the consumption or use of goods and services.
each of the points of sale listed below: -.
Exempt supplies include: -
- The provision of certain financial services as defined by VAT legislation
- Residential real estate
- Undeveloped land
- Passenger transportation within the city
Taxable supplies include:-
- Commercial real estate
- Purchase at a store
- Automobile sales and rentals
- Restaurants and hotels
- Maintenance and repair services
- Educate yourself
- Medical care
- Medical supplies and equipment
- Investing in preacious metals such as gold, silver, and platinum
- International transports and exports
- Natural Gases and Crude Oil
- This is the first time a residential property has been sold.
Taxes on tourists:-
Restaurants, hotels, hotel apartments, resorts, and other establishments in the UAE may levy one or more of the following fees.
Below are the taxes:
- There is a 10% tax on the room rate.
- There is a 10% service charge
- Municipal fees of ten percent
- A 6- to 10-percentage-point city tax
- A 6% tourism charge
- In Dubai, hotels charge a ‘Tourism Dirham Feel’ per room per night of occupancy (for example, if you stay for two nights). a maximum of 30 nights) with prices ranging from AED 7 to AED 20 depending on the hotel. The hotel’s category/grade.
- In May 2016, it was reported that hotels in Abu Dhabi would implement a new rate structure. Additional charges of 4% of the hotel bill and AED 15 per night per room.
- Hotels in Ras Al Khaimah levy a tourism fee of AED 15 per room per night.
Tax Consultancy Services' Importance:-
Any firm in the UAE is required to pay taxes, which are used to fund the country’s development. By filing tax returns, tax accounting guarantees that businesses and individuals comply with tax rules. A single flaw in the accounting process could result in a significant business loss. As a result, when constructing a tax account, individuals or businesses must be particularly cautious.
Things to keep in mind:
- It is everyone’s responsibility to pay their taxes on time.
- To prevent penalties, one should learn and keep up with the business’s tax rules and regulations.
- Make sure you file your taxes on time to avoid paying late fees and penalties.
- Prepare tax-related paperwork and keep track of them at all times.
- Plan ahead of time for tax payments and create a budget to avoid getting behind.
- When it’s time to file, you’ll be short on time.
- To compute accurately and stop paying more than you should, you must understand proper computation.
- Tax Consultation Services Have Many Advantages
- Tax advisers help you prepare and give important information for your company.
- When dealing with tax returns, we look into every part of the business.
- Tax experts assist in the preparation of tax returns by saving time.
- We can provide you with the most up-to-date information on any tax changes policy
- Tax consultants can assist you with the preparation of income tax returns and audited financial statements.
- We can assist you in renewing your business permits and licences, as well as execute other services.
- In the event of ignorance, we may assist the owners in keeping their financial statements orderly and relieve them of tension and difficulties.
- We can assist you in timely filing of your financial records.
- We can assist you with keeping all of your receipts organised, filed, and recorded.
- We can offer better guidance on how to properly calculate tax payments.
- We can advise you on how to handle your taxes effectively and how to reduce your tax payments.
- We devise solutions to keep your tax returns free of penalties and interest in the future.
- We can give you piece of mind when it comes to demonstrating records to meet accounting and regulatory reporting standards.
Al Riyady Auditing Tax Accounting Services:-
- Tax Accounting Advice
- Tax Balance Sheet Preparation
- Tax Validation Projects
- Updating Accounting Laws for Any Changes and Applying Them
- Deals with Tax Risk
- Tax Registration
- Filing of Tax Returns