File VAT Reconsideration Form in UAE | Accounting Firm in Dubai Any taxable person or entity that has received a penalty from FTA and wishes to reconsider the applicability of penalties is eligible to submit the VAT reconsideration application. If you are not satisfied with the Federal Tax Authority (FTA)’s a decision and if they have imposed any penalties, then you can file a VAT reconsideration request to the authority to review the decision made by the FTA. The VAT Reconsideration form shall be filed within 20 business days from the day a business is being notified of the decision or clarification. The Reconsideration form should be filed in the Arabic language only and no other language is allowed for filing the application. The information required to file the VAT Reconsideration form are VAT Registration certificate, ID of Emirates for registration, Copy of passport of the person for registration, registered mobile number and Memorandum of Association for verification, the amount of penalty, the date of penalty levied and a summary of the case.
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VAT Registration All member countries in the GCC signed a unified VAT agreement, enabling the implementation of a formal VAT system across the GCC. What is Value Added Tax (VAT) Value Added Tax (VAT) is a tax levied at each point in the supply chain, for either a product or a service. It is a consumption tax, as it is borne finally by the end consumer. What is VAT rate in UAE? The rate of VAT in UAE is 0% and 5%. Governing Law The Federal decree-law no.8 of 2017 on VAT provides the guidance for tax rates, scope of transactions, supply of goods and services. When to register VAT? Application for Tax Registration Number (TRN) shall be taken in 2 scenarios: Disclaimer: The tax rate is subject to change as per the Government policy Reliable Storage Accounting and Taxation consultancy in Dubai Excise tax in Dubai UAE is a form of indirect tax levied on specific goods called “excise goods” which are typically harmful to human health or the environment. The Excise tax was introduced across the UAE in 2017. The purpose of levying excise tax is to reduce the consumption of unhealthy and harmful commodities as well as to raise revenues for the government that can be spent on beneficial public services. Ultimately, consumers need to pay more for goods that are harmful to human health or the environment. Under the UAE Federal Decree-Law No. 7 of 2017 on Excise Tax, it is the responsibility of a business to register for excise tax. Given below are the advisory services of Excise Tax UAE offered by Flyingcolour Accounting & Taxation Consultancy
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VAT returns in UAE VAT Return Filing Services in Dubai VAT return filing services in Dubai UAE is an important part of VAT as it summarizes the value of the supplies and purchases a taxable person has made during the tax period. Taxable businesses must file for VAT returns UAE with FTA on a regular basis which is usually within 28 days of the end of their ‘tax period’. Why should you opt for VAT Return Filing Assistance ? Our Tax Professionals at Flyingcolourtax Consultant can support your VAT compliance in the following areas: We will assist you in compiling the financial information for filing the VAT Return on a periodical basis (weekly/monthly/Quarterly).
Accounting company in Dubai Flyingcolour® Tax Consultancy and Accounting Company in Dubai is a consortium of highly skilled, knowledgeable Chartered Accountant in Dubai with extensive accounting and tax experience. We focus on providing financial statement, consulting, and tax services to all size of organizations throughout UAE. Professionalism By combining our expertise, experience and the energy of our staff, each client receives close personal and professional attention.Our high standards, service and specialized staff spell the difference between our outstanding performance, and other firms. Quality of Best Accounting Companies in Dubai Accounting companies in Dubai are known for the quality of its service. Who We Are? Flyingcolourtax® is the most reputed veteran consulting firm catering business setup, Accounting, Taxation and Immigration service having its corporate headquarter in Dubai – UAE. Following are few facts about us. Our Vision To make sure every client associated with us prospers with “Flyingcolours®”.
Tax Residency Certificate Tax Residency Certificate in UAE Tax Residency Certificate in UAE or Tax Domicile Certificate is an official certificate issued by the Ministry of Finance to companies who have completed 1 year in the UAE or to individuals who have been in the UAE as a resident for at least 183 days or more. It will help to avoid double taxation for foreign investors; companies from other taxable jurisdictions. This certificate is used to take advantage of the double taxation treaties and to benefit from the double taxation avoidance agreements signed with 76 countries by the UAE. Avoidance of Double TaxationTake Advantages of Tax Treaty and tax AgreementBusinesses & Individual can apply for TRC as proof of fiscal residence in the UAE to the government around the globe.0% Income Tax in the UAE and benefit Tax TreatyTax Consultancy in DubaiLook for a registered and certified audit firm in UAE that provides Tax consultancy in Dubai as well as other VAT services.
Bookkeeping services in Dubai Contact Us Sub Title will here... Get in touch for assistance with your VAT & accounting needs Drop Us A Line We’d love to hear from you. Hiring the right tax & accounting consultant in Dubai and across the UAE is of extreme importance for your business and we can make this job really easy for you. Please enable JavaScript in your browser to complete this form. Flyingcolour® is a leading company in Dubai providing business setup, Accounting & VAT and Bookkeeping and immigration services in Dubai – UAE since 2004. Dubai Head Office Office No.2608,2609 & 2610Concord TowerOpposite Palm JumeirahDubai Media City, Dubai. Operating Hours (UAE Local Time)
Economic Substance Regulation The United Arab Emirates (UAE) joined the Base Erosion and Profit Shifting Inclusive Framework (BEPS IF) on 16 May 2018, and has since taken significant steps to implement the BEPS minimum standards (i.e., Actions 5, 6, 13, and 14) and cement its position as an attractive regional and global hub for foreign direct investment. As a result of the same 2 new provisions was introduced into the compliance. On 30 April 2019, the UAE Cabinet issued the Cabinet of Ministers a Resolution No.31 of 2019 (concerning economic substance regulation-ESR in Dubai UAE, “the Regulations”). This was introduced with an aim to confirm that the Relevant Entities are carrying out an activity in the State that achieves economic substance interest within the UAE. The above-mentioned Regulations apply to all UAE onshore and free zone companies that carry on a “Relevant Activity”. The following are considered as “Relevant Activities” under the Economic Substance Regulation (ESR in Dubai).
Accounting services in Dubai VAT services in Dubai Managing VAT obligations will be an ongoing challenge for businesses. With the passage of time, VAT legislation is likely to witness changes, which will have an impact on businesses. Further VAT considerations will come into play with changes in business scenarios, such as the launch of new VAT Services in Dubai, new transactions being added to your business, or with changes in your supply-chain structure. All these would need review and advice from a VAT impact perspective. Since all the VAT related expertise may not be available to you in-house, it is critical that you partner with qualified, experienced and a supportive Tax Agent approved by FTA, who can guide you on all VAT related matters. Flyingcolourtax Accounting & Taxation Consultancy’s specialists can provide client focused advisory services on VAT related matters. Our advisory services include the following