For fiscal years beginning on or after 1 June 2023, the UAE's Ministry of Finance announced the implementation of a Federal Corporate Tax system on corporate earnings. The net income or profit of companies subject to corporate tax in the UAE. Specialists at TCFS can assist you in evaluating the opportunities and difficulties to eliminate severe fines due to failure to comply.
To register with the Excise Tax system, importers, producers, stockpilers, warehouse keepers, etc. who deal with electronic smoking devices, the liquids used in such devices, as well as sweetened beverages. Failure to register within the allotted time may result in penalties. We will assist to lessen your tax exposures and risks and produce cost-effective tax law compliance.
Consumers are required to pay 5% for the goods or services they use since VAT was implemented in the UAE on January 1st, 2018. TCFS helps your company get registered in accordance with UAE VAT law in order for the government to recognise it.
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The new residence VAT return scheme applies to UAE residents who establish a new structure to be used primarily as a residence by the individual or his or her family. Under this plan, such a person will be able to receive a refund of the tax paid on construction expenses.
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