A business setup in Dubai can be a lucrative opportunity to make profits, grow internationally, and create a reputed brand name. At BCM Corporate Services LLC, we have years of experience nurturing businesses across all scales and industries for a hassle-free establishment in Dubai.
Working Hours : Monday to Saturday (8am - 7pm)
Starting June 2023, Dubai will have a new corporate tax imposed at a rate of 9%. The taxation system will remain attractive for business persons interested in performing the activities in the free zones of Dubai where there is no corporate tax under specific conditions. In the oil and bank sectors in the Emirates, the corporate tax is set at a maximum rate of 55%. For a better understanding of the taxation system in Dubai, you may address your concerns to our lawyers in Dubai who can also help entrepreneurs set up their companies in compliance in the legislation in the UAE.
Our tax agents in Dubai are at your disposal with in-depth information about the necessary financial services for your business in Dubai and with tax consulting in Dubai, linked to your operations. It is good to know that registered companies in the UAE are considered residents if the following elements are proved:
As part of the seven emirates of the UAE, Dubai hasn’t imposed any income tax legislation for resident companies, no matter if they are small or big businesses. However, regardless of the line of activity or the company size, businesses must keep their accounts updated and structured by professional accountants for permanent accurate reports on their profitability and steadiness, as well as for proper preparation when they need financing.
Carbonated drinks include any aerated beverage except for unflavoured aerated water Energy drinks include any beverages which are marketed, or sold as an energy drink, and containing stimulant substances that provide mental and physical stimulation. Tobacco and tobacco products Electronic smoking devices and tools Liquids used in such devices and tools Sweetened drinks.
Tobacco and tobacco products Electronic smoking devices and tools Liquids used in such devices and tools Sweetened drinks.
Tobacco and tobacco products
Electronic smoking devices and tools
Liquids used in such devices and tools
Sweetened drinks.
Exempt supplies: - The supply of some financial services that explained in VAT legislation Residential properties Bare land Local passenger transport
Taxable supplies: - Commercial property, Retail purchase, Car sales and rentals, Hotels and restaurants, Repairs and maintenance services
In Dubai, hotels charge 'Tourism Dirham Feel’ per room per night of occupancy (for a maximum of 30 consecutive nights) ranging from AED 7 to 20 depending on the category/grade of the hotel. In May 2016, it was announced that hotels in Abu Dhabi would charge a new additional fee of 4 percent of hotel stay bill and AED 15 charges per night per room. In Ras Al Khaimah, hotels charge AED 15 tourism fee per room per night.
Tax payment is compulsory for any business in the UAE, as this revenue is used for the development of the country. Tax accounting ensures that companies and individuals comply with tax laws by filing their tax returns. A single fault in the accounting process may lead to a heavy business loss. So, individuals or companies must be extra vigilant while preparing a Tax Account.
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Tax advisors plan and provide essential information for your business
They look into every aspect of the business while dealing with tax returns.
Tax advisors help to save time in preparing the tax returns
They can help you with up-to-date information regarding any changes in the taxation policy
Tax consultants can help you in filing Income Tax Returns and Audited Financial Statements.
They can help you renew your business permits and licenses for you and perform audits.
They can help the owners keep financial statements organized and release them from stress and headaches in case of ignorance.
They can help you file your financial records on time.
They can help all your receipts kept organized, filed and recorded.
They can provide better advice on proper computation for tax payments.
They can give you advice on effective tax management and ways to lower tax payments.
They build strategies to avoid future penalties and interest on your tax returns.
They can provide you with peace of mind when you need to show records for compliance with accounting and government reporting requirements.
Advice on Tax Accounting
Preparation of balance sheets on the basis of tax
Preparation of tax validation projects
Updating accounting laws for any changes and applying the same
Deals with tax risk
Filing of Tax Returns
Our Accountants can give you advice on effective tax management and find ways to lower your tax payments. They can help you in filing Tax Returns and Audited Financial Statements. They can also renew your business permits and licenses for you and perform audits. branches Accounting & Bookkeeping Services LLC also professionally handle CFO Services, Auditing Services, Accounting & Bookkeeping Services, Accounting Software services,
Due Diligence Services, and Tax Filing & VAT Consultancy services in Dubai on time according to the convenience of our good clients. We give priority to the maximum satisfaction of our clients. Our customer-centric approach is well appreciated, and we promise one of the best services to your business.
The prominent business entities in the UAE are as follows.
Limited Liability Company (LLC)
Branch & Representative Office
Joint Stock Company (Private/Public)
A foreign investor is entitled to own up to 49% of the company shares when the company is incorporated in the UAE mainland. Whereas, if the company is incorporated in any one of the Free zone jurisdictions, foreign investors are entitled to own 100% of the shares.
Businesses having operations on both the Mainland UAE and the Free Trade Zones and those operating under the dual licensing system should evaluate the implications for their operating strategy.
Economic Substance Regulations (ESR) effective from 1 January 2019. Under ESR provisions, UAE entities (both Mainland , FreeZone and branches of foreign companies ) carrying out certain specified activities, like distribution, services to foreign affiliates,
earning interest income, Holding companies, Leasing activities, are required to maintain economic substance in respect of each relevant activity in the UAE. The entity has to comply with annual filing of ESR, and non-compliance may results in penalties from AED 20,000 to AED 70,000 per annum. Contact us today for ESR compliance of your entities.
Our skilled professionals will assess both your personal and business tax requirements. Then we’ll create a financial strategic plan that’s tailored to your company’s needs. Our personnel have the skills and knowledge they need to comprehend the taxation system. Furthermore, we provide services for our customers using sophisticated tools, and methodologies.
Get one-stop guidance with expert tax consultancy services in the UAE, which are as follows: