UAE Tax Services
The introduction of a VAT in the UAE Tax Services has created much chaos and confusion among businesses. The new tax law is very complicate. which leaves many companies unsure about their obligations or how. They should be tax for certain goods/services render within (UAE).
The UAE Tax Authority requires all businesses whose taxable supplies cross the threshold margin. As set by Federal Law (FTA), to register for VAT. The rate of tax is 5% and failure in following these laws may result in penalties according to article 7 thereof. Which was newly add after Summer Storm this year. It states that any business not complying with new rules will be penalize at double their original fine.
The VAT laws in the UAE are very stringent and businesses must be aware of their impact. So they can avoid any complications when filing returns.
The UAE has introduced a new UAE Tax Services law. That requires businesses to register and file their returns within the time frame given by the FTA. If you find your business cannot cope up with these laws. It is advisable for you take help from Our international Taxation UAE Tax Services Consultants or Accountants who are certified under UAE VAT Law.
“Businesses must be registered under this regulation in order not lose out on any potential refunds.”
Businesses must register for the UAE VAT. file returns within time given by FTA and can claim a refund. if they meet criteria. In any case where your company needs assistance with new laws apply them correctly – Our Tax Consultants Agency will help you!