What is Tax Advisory?
The UAE's taxation landscape is dynamic and businesses are required to comply with the UAE's regulatory environment. As FTA approved Tax agents, we bring to the table in-depth knowledge of the industry and local tax regulations while resolving complex issues through the tax audit services we provide.
In the realm of tax consultancy, we provide tailor-made solutions to each client, aligned to their business requirements. This is achieved by gaining a ringside view into tax-related issues faced by the business, based on which our team of experts offer appropriate Tax Advise.
Learning curve on VAT by UAE businesses are increasing day by day because of the explanation and clarification issued by the Federal Tax Authorities. Understanding the nitty-gritty and clear interpretation in line with the Law is imperative. We advise and support businesses on Indirect Taxation to be compliant on VAT. Our VAT service covers every stage of the business need in UAE VAT.
Economic Substance Regulations (ESR) - Cabinet of Ministers Resolution No 31 of 2019 – was issued on 30th April 2019 as part of the UAE’s commitment as a member of the OECD Inclusive Framework. The UAE Ministry of Finance (MoF) issued a Cabinet Resolution on the Economic Substance on 30th April 2019 for which an Amended Resolution has been issued in August 2020 with Updated Guidance. ESR related compliances became applicable in the UAE in 2020 and requires all in-scope UAE entities to maintain an economic substance.
Excise Tax is an indirect tax typically levied on specific goods that are harmful for human health or the environment. Largely excise tax was introduced with an aim to reduce consumption of unhealthy commodities while raising revenues that can accentuate public services.
UAE being one of the busiest trading hubs in the world, requires businesses to focus their attention on International Taxation. With profit shifting and base erosion being popular tax avoidance strategies, UAE is the 116th jurisdiction to join the international taxation framework on BEPS. Leveraging international taxation services can help businesses optimise their supply chain and trade related issues.
In line with its commitment to the Global Minimum Taxation Regime, UAE recently introduced Corporate Tax. Corporate Tax coming into force in the UAE landscape catapults the country into being a part of a global financial ecosystem instead of limiting its potential as a tax haven.
How UHY James can help you in Tax Advisory?
Backed by our extensive global network of experienced international direct and indirect tax professionals, we deliver seamless services to help clients navigate complex local and international tax laws and achieve optimum tax efficiency without compromising on compliance with tax laws and regulations. Our experienced tax team also provides ongoing training programs and awareness seminars to regularly update our clients on the practical implications of tax laws, both prevailing and proposed.
Our expertise lies in offering advisory services that are focused on maximizing tax benefits and minimizing tax burdens. Our team of tax experts, handhold clients and offer strategic advise on leveraging tax incentives, tax rebates and comply with tax related regulations. We are positive UHY James has a pivotal part to play in helping you stay compliant as you navigate the UAE’s evolving tax regime.