Navigating the intricacies of taxation in the United Arab Emirates (UAE) can be challenging, but you don’t have to do it alone. We have a separate company in our group, incorporated in the year 2017 for the same.
“RMC Tax Consulting” is most sought-after tax advisory firm in UAE with specialised services for
- Direct tax including UAE Corporate tax (CT), impact assessment and implementation, tax efficient restructuring of business models and compliance of UAE Corporate tax law and
- Indirect tax including UAE VAT, complex transactions under VAT, Refund, Voluntary Disclosure and others.
Our highly skilled and well-trained advisers guide you through tax implementation and registration and Transfer Pricing (TP) impact assessment
We are Your Tax Planner in all of your ventures. We are specialised in direct taxation including UAE Corporate Tax(CT), impact assessment and implementation, tax efficient restructuring of business models and operations for compliance of UAE tax laws, Free Zone onshore-offshore companies-qualifying-non-qualifying incomes, restructuring various types of branches and subsidiaries, tax grouping and Transfer Pricing compliance (UAE as well as OECD Transfer Pricing Guidelines), UAE CT registration and return filing, Planning and compliance of UAE and International tax laws.
Our team has comprehensive knowledge of –
- Operation of various legal forms of businesses in UAE (mainland, free zones – onshore-offshore businesses, branches, sole establishment, partnerships(incorporated – unincorporated), representatives & liaison offices, Business JVs etc;
- UAE Corporate tax law no.47 of 2022;
- OECD Model Convention 2017;
- OECD TP guidelines etc.
Our international tax experience in policy and implementation is exactly what you need for the changes lying ahead. RNG is an approved tax agent with the UAE’s Federal Tax Authority (TAAN 20019659).
Taxes in UAE
The UAE does not levy Income Tax on individuals. There are the following taxes in the UAE –
- Corporate Tax – Applicable form beginning of first financial year that starts on or after 1 June 2023 and is levied on the net income or profit of corporations and other entities from their business.
- Excise Tax – Introduced in 2017 and is levied on specific goods which are typically harmful to human health or the environment.
- Value Added Tax – It was introduced in the UAE on 1 January 2018 and is levied on most of the goods and services.
- Others – Levied on oil companies and foreign banks.
UAE Federal Tax Authority (FTA) is responsible for the administration, collection, and enforcement of the Taxes in the country.
- Advisory – Our experts are well-versed in UAE taxation laws and regulations, providing you with accurate and up-to-date guidance on all matters related to taxation within the country.
- UAE VAT Compliance – Ensure that your business complies with UAE’s Value Added Tax (VAT) regulations. We assist with VAT registration, return filings, and compliance to avoid penalties.
- UAE Corporate Tax Compliance – Our team handles all aspects of UAE Corporate Tax compliance, including assessment, registration, preparation and submission of tax returns, to ensure your corporate tax obligations are met accurately and on time.
- Tax Planning and Optimization – We help you develop strategic tax plans that minimize your tax liabilities while ensuring full compliance with UAE tax laws.
- International Taxation – If your business operates internationally, our experts can assist with international tax planning, transfer pricing, and cross-border transactions.
- Tax Residency Services – Determine your tax residency status in the UAE and optimize your tax obligations accordingly.
- Representation Before Tax Authorities – As a “Approved Tax Agent” with Federal Tax Authority, UAE we provide professional representation to safeguard your interests and navigate the process effectively.
Excise Tax is an indirect tax levied on imports and productions of specific goods in U.A.E. These goods are typically not good to human health or the environment. The intent of the tax is to discourage the consumption of these goods with increasing revenues for the government that can be spent on public beneficial services.
UAE applies a 50% Excise Tax on Sugar Sweetened Beverages (“SSBs”) and a 100% Excise Tax on electronic smoking devices and equipment, as well as on the liquids used in electronic smoking devices and equipment.
Who is subject to Excise Tax?
If you are engaged in importing, exporting, manufacturing, trading, storing or transporting excisable goods such as tobacco, alcoholic beverages, soft drinks and energy drinks, the new GCC Excise Tax system will have a significant impact on your business.
The importers, manufacturers and in certain cases other agents in the supply chain are liable to register for Excise Tax, submit periodical returns, pay the Excise Tax due to the local authorities and maintain specific Excise Tax records.
How can we help you?
- Handling Excise Tax effectively will help your business to reduce the risk of non-compliance while ensuring an efficient management of the Excise Tax liability through the use of the available exemptions, refunds, suspension cases and customs reliefs.
- We have a dedicated team for Excise Tax who are helping our clients to obtain the best possible practical knowledge to ensure compliance whilst avoiding unnecessary costs, disruption in the supply chain and reputational damage.
- Perform industry focused business reviews to ensure that companies manage their Excise Tax risk and exposure, identifying savings opportunities and reducing areas of risk and provide advice on structuring business transactions, including cross border transactions, in an Excise Tax cost effective way.
- We assist in Excise Tax registration and compliance obligations and also assist in Excise Tax audits, disputes and dealing with the Excise Tax authorities.