UAE has implemented many regulations and taxes since 2017. There are further reforms that have been mentioned by the Federal Tax Authority. It is important to stay compliant with the Tax Laws as the fines and penalties for non-compliance are significant. Our Tax Services is designed to help the business owners have a peace of mind in terms of compliance as the advice is given by team of professionals who keep themselves up to date with the new clarifications and laws that are announced.
Excise tax is a form of indirect tax levied on specific goods which are typically harmful to human health or the environment. These goods are referred to as “excise goods”. Excise tax was introduced across the UAE in 2017, and it scope was further expanded in Dec 2019.
Excise tax is the responsibility of any business engaged in the import / production / stockpiling of excise goods or anyone who is responsible for overseeing an excise warehouse or designated zone i.e. a warehouse keeper.
We have the qualified experts who can help perform initial impact assessment for its applicability into your business and can help you to obtain Excise Tax registration number from the Federal Tax Authority.
Tax Residency Certificate or sometimes called as Tax Domicile Certificate is an official certificate issued for eligible government entities, companies and individuals to take advantage of agreements of double taxation avoidance on income signed by the UAE
Companies inside UAE for at least 1 year of age or Individual with UAE residency visa / permanently residing in the UAE for at least minimum of 180 Days can obtain Tax Residency certificate. This certificate valid for one year from the date of its issue.
Specialists from our team can assist you in obtaining TRC from Ministry of finance, by determining the eligibility and in arranging the documents required so.
As part of the UAE’s commitment as a member of the OECD Inclusive Framework on BEPS, and in response to an assessment of the UAE’s tax framework by the European Union (EU) Code of Conduct Group on Business Taxation, the UAE introduced a Resolution on the Economic Substance (Cabinet of Ministers Resolution No. 31 of 2019, the “Regulations”) on 30th April, 2019.
Each business (licensee) in UAE performing ‘certain relevant activities’ need to submit notification to their licensing authority from 01 Jan 2020 onwards; followed by a report within 12 months from the end of their financial year.
We have specialized team who cater to the needs of client to help them to meet their ESR regulations requirement, thus ensuring full compliance.
|IFC invests in training staff to ensure they are fully up to date with the new tax laws.|
|IFC staff are experienced consultants from various tax jurisdictions and can guide you through the tax legislation in UAE.|
|We support clients by understanding their needs and the nature of their businesses.|
|IFC believes in transparency with rates and processes. After mandated by clients, IFC assigns a tax expert who ensures timely deliveries and keeps them updated throughout the progression of service.|