Taxation
Navigating taxes effectively is crucial for the success of your business in the UAE. At Nexa Aura Financials, we provide comprehensive taxation services designed to simplify the process and ensure your business remains compliant. With our expertise, you can manage your tax responsibilities with confidence, allowing you to focus on growing your business.
We offer tailored solutions that cater to your specific business needs, providing strategic advice to help minimize your tax liabilities.
The UAE has a clear and structured taxation system, which includes the following categories:
Corporate Tax
Since June 2023, a 9% corporate tax applies to companies earning more than AED 375,000 annually. Companies below this threshold still benefit from a 0% corporate tax rate. Foreign oil and gas companies are taxed at 55%, while foreign bank branches are taxed at 20%.
Dividends, capital gains, and intercompany transactions are tax-free.
Value-Added Tax (VAT)
The VAT rate in the UAE is set at 5%, with businesses required to file VAT returns quarterly within 28 days of the tax period. Certain goods and services may have specific rules regarding VAT, making it crucial to have expert VAT accounting services to ensure compliance.
Excise Tax
Excise tax applies to goods that are harmful to health or the environment, such as sugary drinks, tobacco, and energy drinks. The tax rates vary, with 50% applied to sugary drinks and up to 100% for tobacco and electronic smoking devices. Companies dealing with excise goods must register with the Federal Tax Authority (FTA) and file returns quarterly.
Import and Export Tax
Import tax is charged at 5% of the total value (cost, freight, and insurance) of imported goods. Goods from the Greater Arab Free Trade Area are generally tax-free, and exports to Free Zones are exempt from tax until they are sold in the local market.
Our Services
At Nexa Aura Financials, we guide our clients through every aspect of taxation in the UAE:
- Comprehensive Taxation Services: We handle everything from tax analysis and registration to filing periodic returns.
- Expert Advice: Our team of experienced accountants and auditors provides tailored advice specific to your business’s tax needs.
- Accurate Financial Tracking: We ensure accurate tracking of your financial records through our accounting and bookkeeping services.
- Timely Tax Filing: We manage the timely filing of tax returns, ensuring full compliance with legal and regulatory requirements.
Benefits of Our Taxation Services
Our expert tax consultancy services provide several key benefits for your business:
- Planning and Organization: Our tax advisors assist with tax planning, preparation of tax returns, financial statement organization, and filing of audited financial
- Up-to-Date Information: We keep you informed about any changes in tax laws, helping you select the best VAT schemes and strategies for minimizing tax.
- Business Structure and Strategy: We evaluate your business structure to develop strategies that help avoid penalties, increase profitability, and reduce costs.
- Legal Compliance: We ensure that your business complies with all tax regulations to avoid penalties and maintain good standing with tax authorities.
Contact Us
Partner with Nexa Aura Financials to ensure your business stays compliant with UAE tax laws. Reach out to us for expert guidance and reliable taxation services.
Contact Us