The GCC introduced Value Added Tax in accordance with the GCC accord beginning of 2018, wherein companies qualifying certain criteria of registration must register and implement VAT system in their organizations.
At BBATC, we help our clients comply with the tax laws implemented in GCC in accordance with the federal laws introduced by each GCC country.
This includes:
- Registration/De-registration of Companies with the Federal Tax Authority
- Identification of Tax Groups
- Assessment of key transactions for tax impact
- Tax Impact Analysis
- Implementation of relevant laws and procedures
- Tax advisory on complex transactions
- Review of Accounting/MIS Systems
- Impact Assessment Report
- Road map on Implementation of the VAT
- Tax Filing Procedures and Planning
- Review of Tax returns and filing
- Communication with Federal Tax Authority
- Training and workshops
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 onward; 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.
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.
TRANSFER PRICE
CORPORATE TAX
INTERNATIONAL TAXATION
FERDERAL TAX AUTHORITY MATTERS