Services Archive - Expand tax and businessmen services https://expand.company/service/ Sun, 30 Jul 2023 12:53:36 +0000 en-US hourly 1 https://wordpress.org/?v=6.5.2 https://i0.wp.com/expand.company/wp-content/uploads/2022/08/cropped-fav.png?fit=32%2C32&ssl=1 Services Archive - Expand tax and businessmen services https://expand.company/service/ 32 32 214608589 UAE Corporate Tax https://expand.company/service/uae-corporate-tax/ Tue, 09 May 2023 05:57:14 +0000 https://expand.company/?post_type=binario_service&p=10794 Office Setup Tax And Accounting PRO Services Bank Account Opening Import Export Code Registration VIP Medical Test & Emirates ID Attestation, Translation & Patent Registration Marketing And Advertising Services Corporate Tax Corporations and other entities in the UAE are subject to a direct tax on their net income or profits derived from their business activities, […]

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Tax, Bookkeeping and Accounting Services in Dubai

Corporate Tax

Corporations and other entities in the UAE are subject to a direct tax on their net income or profits derived from their business activities, which is known as Corporate Tax (CT).

Expand Tax and Businessmen Services offers comprehensive Corporate Tax Services to assist businesses in the UAE to comply with the new tax regulations that came into effect on June 1, 2023. Our team of experienced professionals provides guidance and support to business owners to understand the administrative requirements such as tax registration, filing of corporate tax returns, and payment. We ensure that our clients are fully compliant with the new regulations and avoid any hefty penalties. Our Corporate Tax Services are designed to provide businesses with a hassle-free experience by taking care of all the tax-related obligations.

Corporate Tax Registration

In the United Arab Emirates (UAE), companies are required to register with the Federal Tax Authority and obtain a Corporate Tax Registration ID or number, regardless of whether they are subject to 0 percent or 9 percent corporates tax.

Timelines
The FTA website states that taxable individuals are given a period of time to register, up until the date of their first tax filing. The timeline for registration is determined by the end date of the individual’s financial year. For instance, if a taxable person’s financial year ends on May 31st, they have 26 months to register, with a deadline of February 28th, 2025. Similarly, if their financial year ends on December 31st, they have 33 months to register, with a deadline of September 30th, 2025. This means that businesses in the UAE have a specific registration timeline to follow, based on their financial year end date, and must ensure that they register for corporate tax within the given timeframe to avoid penalties and legal consequences.

How can we help?
We provide expert advice and assistance in all aspects of corporate tax registration, including obtaining the necessary documentation and completing the registration process in a timely and efficient manner.

Corporate Tax Rate

The Ministry of Finance has provided updated guidelines regarding the rates at which Corporate Taxes will be imposed in the UAE. If a company’s taxable income is equal to or less than 375,000 AED, no taxes will be imposed on their Corporate Tax (CT). However, if the company’s taxable income exceeds 375,000 AED, a tax rate of 9% of the CT will be applied.

Corporate Tax will be charged on Taxable Income as follows:
  • Taxable income not exceeding AED 375,000 will be subject to 0%
  • Taxable income exceeding AED 375,000 will be subject to 9%
Qualifying Freezone Persons as follows:
  • Qualifying Income 0%
  • Taxable income that does not meet the qualifying income 9%

Qualifying Free Zone Person & Qualifying Income

A Free Zone Person who qualifies as a Qualifying Free Zone Person can enjoy a special corporate tax rate of 0% on their “Qualifying Income”.

To be eligible as a Qualifying Free Zone Person, the individual must:
  • Maintain sufficient presence in the UAE
  • Generate “Qualifying Income”
  • Not have opted to pay corporate tax at standard rates
  • Comply with transfer pricing requirements as per the Corporate Tax Law.
“Qualifying Income” refers to any income subject to Corporate Tax earned by a Qualifying Free Zone Person.

Corporate Tax Apply To:

The Corporate Tax Law imposes taxes on income using both the residence and source bases, which are dependent on the classification of the Taxable Person.

  • A “Resident Person” is taxed on income from both domestic and foreign sources (i.e. a residence basis).
  • A “Non-Resident Person” is only taxed on income obtained from sources within the UAE (i.e. a source basis).
  • Any person or company operating a business under a commercial license within the UAE is subject to corporate tax.
  • Businesses located in free zones in the UAE are also subject to corporate tax, unless they comply with all regulatory requirements and do not conduct business outside of the free zone.
  • Foreign individuals and entities are subject to corporate tax only if they engage in regular or ongoing business activities within the UAE.
  • Banks operating within the UAE are subject to corporate tax.
  • Companies involved in activities related to real estate management, construction, development, agency and brokerage within the UAE are subject to corporate tax.

Exemptions from Corporate Tax

  • Government Entities (automatically exempt).
  • Government-controlled Entities (automatically exempt).
  • Persons engaged in the non-extraction of UAE natural resources (Exempt if notified to the ministry of finance).
  • Persons engaged in the extraction of UAE natural resources (Exempt if notified to the ministry of finance).
  • Qualifying Public Benefit Entities (exempt of listed in the cabinet Decision).
  • Public Pension or social security funds (Exempt if applied to and approved by Federal Tax Authority).
  • Qualified investment funds (Exempt if applied to and approved by Federal Tax Authority).
  • A UAE company wholly owned and controlled by any of the exempt persons (Exempt if applied to and approved by Federal Tax Authority).
  • Dividends and other profit distributions received from a juridical person that is a resident person.
  • Dividends and other profit distributions received from a participating interest in a foreign juridical person subject to certain conditions.
  • Any other income from a participating interest.
  • Income of a foreign permanent establishment where an election is made to exempt this from taxation.
  • Income derived by a non-resident person from operating aircraft or ships in international transportation that meets the conditions of the CT Decree-Law.
  • Any other persons as determined by cabinet decision (Exempt if applied to and approved by Federal Tax Authority).

Deductible Expenditure

According to the Decree-Law, any expenses that are incurred solely for the purpose of the Taxable Person’s business and are not capital in nature will be deductible in the Tax Period when they occur. However, there are certain expenses that cannot be deducted when calculating the Taxable Income for a Tax Period, including:

  • Expenses not related to the Taxable Person’s business.
  • Expenses incurred in generating Exempt Income.
  • Losses that are not connected to the Taxable Person’s business.
  • Expenses that the Cabinet may specify in a decision based on the Minister’s suggestion.
Furthermore, certain expenses are non-deductible, such as:
  • Donations, grants or gifts given to an entity that is not a Qualifying Public Benefit Entity.
  • Fines and penalties (except for compensation for damages or breach of contract).
  • Bribes or illicit payments.
  • Dividends or other similar benefits paid to a Taxable Person’s owner.

Corporate Tax - Natural Person

1. What does the term “Natural Person” mean in the context of the Corporate Tax Law?
The term “Natural Person” in the Corporate Tax Law refers to an individual.

2. Will individuals be subject to Corporate Tax in the UAE?
Only individuals who engage in a business or business activity, as per a Cabinet Decision to be issued, will be subject to UAE Corporate Tax. Individuals engaged in other activities will generally be outside the scope of the Corporate Tax regime.

3. How will a sole proprietorship or civil company be treated under the UAE Corporate Tax Law?
For certain types of business activities, natural persons can form a sole proprietorship or civil company. These entities will be treated as the natural person or persons owning them for Corporate Tax purposes.

4. Will individuals be subject to UAE Corporate Tax on business income earned outside the UAE?
Yes, the taxable income of a natural person engaged in a business in the UAE will include all income derived from that business, even if earned outside the UAE, as long as it relates to the business activity conducted in the UAE.

5. Will individuals be subject to UAE Corporate Tax on income from real estate?
Generally, income earned by an individual from investing in UAE property in their personal capacity will not be subject to UAE Corporate Tax.

Corporate Tax Return Filing

The Federal Tax Authority (FTA) in the UAE mandates that businesses file a single consolidated tax return rather than multiple returns. This consolidated return must be submitted within nine months after the end of the relevant tax period. This streamlined approach aims to simplify the tax filing process for businesses and reduce their administrative burden.

Expand Tax and Businessmen Services offer expertise in e-filing tax returns, making it easier for businesses to file their consolidated tax return online. Their team of professionals understands the complexities of tax laws and regulations in the UAE and can provide hassle-free support to businesses during the tax filing process. With their help, businesses can ensure timely and accurate tax filings, avoid penalties, and reduce the risk of non-compliance.

Implementation of Corporate Tax

The implementation of Corporate Tax in the UAE has made tax compliance increasingly complex, which can be a challenge for in-house tax departments to navigate. However, businesses can supplement their efforts by utilizing the expertise of professionals at Expand Tax and Businessmen Services. We offer specialized knowledge and experience in Corporate Tax to ensure accurate transition and compliance with the regulations.

To facilitate this, Expand Tax and Businessmen Services provides a range of services such as:
1. Performing an impact analysis of the regulatory regime.
2. Evaluating the bottom-line and profit-after-tax.
3. Examining the need to modify the fiscal year, ensuring compliance with International Accounting Standards.
4. Ensuring sufficient resources for tax compliance.
5. Analyzing the company’s current methods for ensuring corporation tax compliance.

Our team of experts can help businesses assess their tax situation and develop strategies to meet the requirements of the new tax regime, reducing the risk of non-compliance and penalties.

Compliance with Corporate Tax

The constantly changing business landscape and regulatory requirements make it essential for organizations to adopt a new approach towards accounting, reporting, and taxation documentation. To address this need, Expand Tax and Businessmen Services offers a comprehensive Company Tax Compliance Program that helps businesses meet their tax compliance obligations.

The program includes services such as:
1. General compliance support
2. Corporate tax registration
3. Computation of tax payables
4. Preparation of corporate tax returns and other tax disclosure documents
5. Examination of tax returns
6. Assistance with communication with tax authorities
7. Collaboration with officials to resolve disputes

With the expertise of the professionals at Expand, businesses can achieve their tax compliance obligations and ensure a smooth transition to the recently introduced Corporate Taxes in the UAE.

Advisory / Consultancy for Corporate Tax

Expand Tax and Businessmen Services provides advisory and consultancy services to help companies to be aware of the impact of corporate tax on their business processes and ensure compliance with tax laws.

The advisory / consultancy service includes:
1. Tax preparation and compliance
2. Tax clustering and group revamping
3. Consultancy on domestic and foreign transactions
4. Withholding tax obligations
5. Permanent Establishment (PE) consultancy
6. Guidance on adherence to corporate taxes

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Tax, Bookkeeping and Accounting Services in Dubai

Accounting , Bookkeeping Services in Dubai

  We provide complete Accounting and Bookkeeping services to businesses based in the UAE. We always deliver top-quality, rapid and accurate services. With thousands of hours spent working with Dubai businesses, we have been rated as the best accounting and bookkeeping company in Dubai. Expand Tax and Businessmen Services would manage all the daily bookkeeping and other related tasks you intend to assign. Our bookkeeping services could offer practical solutions and value for money. Our primary focus is to satisfy our customer’s needs including bank reconciliations and data entry. Whatever accounting and bookkeeping tasks we undertake would be a high standard and effectively completed.

Hire our Accounting and Bookkeeping Services:

Outsourcing your everyday bookkeeping responsibilities to Expand Tax and Businessmen Services could enable you to reduce the process of review and also salaries and you could expect an increase in your profit. While you focus on taking care of other important functions of your business such as customer facing matters, product or service development or marketing, you can spend a small amount of time and money on your bookkeeping requirements which can result in huge profit for your business. Our bookkeepers have many years’ experiences across various sectors. They are highly qualified and work with all main accounting systems. We provide cost-effective ways to keep on top of your financial and bookkeeping records. Our Accounting and bookkeeping Services in Dubai help businesses to record and maintain the day-to-day financial operations of the company. Our Accounting and bookkeeping team already helped multiple companies with tons of Tax Registration, Return filing Declaration, Accounting Services, Tax De-Registration, Tax Home builder refund and Digital Tax Stamps and many more related services. Being one of the leading tax and accounting services providers in UAE, we don’t just produce and file paperwork with the relevant authorities, our services provide you with professional tax & accounting advice whenever you need it. Our Tax, accounting and bookkeeping services in Dubai will not only save you time and money but will also help you to grow your business. Our fully qualified, certified accountants can assist you in keeping accurate records to support you and your business, so you are able to successfully run and manage your company.

Accounting and Bookkeeping services FAQs:

It’s a legal requirement for companies to keep proper books of account for at least five years so to keep an accurate record and to save time and money its best option to hire a trusted accounting and bookkeeping firm in Dubai.

There is no fixed cost of accounting and bookkeeping in UAE as it varies from business to business depending on various factors such as type, size, structure, volume and the complexity of the task and many more.

Expand Tax and Businessmen Services is a leading accounting and bookkeeping company in UAE offering cost-effective services with highly qualified accounting team. You can get the most accurate and professional services by using our services.

Speak to us about our bookkeeping services in Dubai or the full range of business setup services. We offer highly affordable Auditing, Accounting, VAT and many other value added services in UAE.

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Corporate Bank Account Opening in UAE

Opening a Corporate business bank account in the UAE is useful when setting up your business in Dubai. There are some procedures to follow while opening a corporate bank account. To make the entire process easier, you should require the services of a reliable business consulting firm. Expand Tax and Businessmen Services is a UAE based business consultancy firm that can make your bank account opening easier for you by handling all the hard work. We have been in the market for more than 25 years now and have become the most trusted firm for all types of consultancy services from business setup services, branch office establishment, PRO services, translation and attestation to bank account opening all under one roof.

How to open a business bank account in Dubai?

Although all banks are regulated by the Central Bank of UAE, they each have their own compliance department and their own specific policies. For starting the account opening procedure however most banks follow the same procedure.

Below are the steps to get started with your business bank account in UAE

Obtain your trade license

If you would like to open a business bank account in any UAE bank then the first thing is to get your UAE trade license otherwise the bank will not consider you as a business without a trade license which is a legal requirement.

Choose your bank

There are many national and international banks in UAE offering corporate bank account opening services in UAE and each bank has its own requirements. When selecting a bank make sure you also examine the eligibility criteria and income.
Double check your legal and corporate documents
The next important step to gather all legal and corporate documents in place before submitting them.

Application process

Once all requirements are fulfilled the bank will then examine every piece of information whether to accept or reject the application. As a final step the bank will interview the candidate. Once all the requirements are completed the corporate bank account will then be established.

Benefits of Opening a UAE business bank account

  •  Zero taxation
  • Dedicated regional manager
  • Easy international access
  • Non-restrictive banking options
  • Easy transfer of funds
  • High level of secrecy
  • Mobile and Online Banking
  • Asset management is available
  • Flexible investment period

Required documents for corporate bank account opening in Dubai

Below are the documents required to open a corporate bank account in UAE.

  • Passport
  • Utility Bill
  • Emirates ID Copy and shareholder representative
  • A detailed business plan
  • Detailed information regarding the type of activities on the account
  • A list of the names of at least five suppliers and five customers
  • Complete set of documents for certified company incorporation
  • Disclosure of the source of funds
  • Company extract
  • Shareholders registry
  • Certificate of good standing

Expand Tax and Businessmen Services is a Dubai based business consulting firm with more than 25 years of experience in the local market and have successfully helped many businesses in setting up their businesses, provided them reliable and cost-effective PRO services, translation services, tax and accounting services and also in bank account opening.
Expand Tax and Businessmen Services can help you with your application fast and efficiently and will also help avoid certain pitfalls, avoid possible rejections, and speed up the process.

There is no fix time duration for opening a corporate bank account in Dubai and normally it can take between 2 weeks to 3 months.

In UAE, local banks do not charge any fees for opening accounts. Each bank has its own terms and conditions for maintaining minimum balance. This balance could range from AED 50k to AED 500k for local UAE banks.

Each bank has its own set of eligibility criteria for opening a corporate bank account in UAE. Few of these are listed below:

  • The company must keep a specific minimum monthly balance in its bank account as per requirement.
  • Many banks require the organization to hold a savings or current account to qualify for a business account.
  • There may be additional requirements specified by the bank.

We appreciate your time and your business, so we offer you a rapid yet a detail-oriented service. Contact us today for opening your bank account with any bank in UAE.

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]]> 2701 PRO Services in Dubai https://expand.company/service/pro-services/ Tue, 19 Jul 2022 03:46:54 +0000 https://demo2wpopal.b-cdn.net/binario/?binario_service=cybersecurity-cloud Menu UAE Corporate Tax Tax And Accounting Office Setup PRO Services VIP Medical Test & Emirates ID Attestation, Translation & Patent Registration Import Export Code Registration Bank Account Opening Marketing And Advertising Services How Much Does it Cost to Set Up a Company In Dubai? Identify your startup expenses Cost Calculator Need a Public Relation […]

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PRO Services in Dubai

Need a Public Relation Officer?

Are you thinking about hiring PRO in Dubai to complete your business important stuff while saving your time and money? We know how important your time is. By hiring our PRO services you can utilize your time in profitable activities instead of standing in queues.

Expand Tax and Businessmen Services is a renowned business consultancy firm offering reliable PRO services in Dubai. We assist new business owners in issuing and renewing their business licenses, company registration, renewal of work permits, processing visa application for newly hired employees and much more. We provide fast and efficient services so you will get everything on time and on budget. 

From application submission, approval to collecting visas we are your one-stop solutions to all your PRO needs. At Expand Tax and Businessmen Services we are a team of highly qualified and experienced professionals with in-depth knowledge of various UAE rules, legal procedures, to providing professional PRO services in UAE for setting up business in Freezone or Mainland or branch office setup in UAE.

There are multiple hard and complex steps involved in company formation from approvals to collecting visas, application submission to signatures and stamps, we are here to take all the stress off from your shoulders.

At Expand Tax and Businessmen Services Expand Tax and Businessmen Services we have the most qualified PROs who will work closely with the Government relations team to ensure timely renewal of visas and work permits, trade license renewals and all other related documentations.

Every business requires the services of a Public Relations Officer (PRO) to efficiently handle government-related documentation and for coordinating and liaising between the company and Government organizations / authorities and provide a key inter-face between the two.

Why to choose our PRO services?

  • By choosing Expand Tax and Businessmen Services as your PRO solutions provider in Dubai, you will get professional services by reducing overhead costs and will get the job done in easy and cost-effective ways.
  • Our PRO can handle all your major tasks related to license renewal, registration, payments and permits in a professional and cost-effective way.
  • To get approval for many tasks related to approval from various government departments.
  • Taking care of the permit applications and renewal of the concerning licenses.
  • To get entry permit, employment visa, labor approval, labor card, medical fitness test, residence visa, Emirates id appointment and many related tasks.
  • To make sure that all the activities are handled in a timely manner and there are no delays in any way.
  • Our professional PRO services in Dubai maintain the company’s authorized stamps, official government letters as well as the letters sent to government.

Hiring a professional PRO company in Dubai can bring a range of benefits to businesses of all sizes. These benefits can help your business achieve its goals, grow, and succeed in the competitive marketplace of Dubai. Whether you’re looking to start a new project, improve an existing one, or simply streamline operations, a PRO company can provide the support you need to succeed. Partnering with a PRO company can be a cost-effective and time-saving solution that can help you grow your business, increase efficiency, and achieve your goals. All you can do is to contact us, choose your PRO Services preferences and we will make them happen. Contact us today if you need any of the below services:

FAQs about PRO Services

Hiring PRO services can save your time and money as you can pay a small amount to outsourced PRO firm which you can use as per need basis. This way you can save the extra visa cost and salary amount. Also using Expand Tax and Businessmen Services PROs you can hire highly qualified, knowledgeable PROs who are professional and can make the process smooth.

There are many ways to find a trusted PRO firm in UAE such as by doing a thorough search and Google search you can find many companies offering PRO services and then check their reviews. A company with many positive reviews can handle your PRO related task in a much better way. Expand Tax and Businessmen Services is one of those firms whom you can trust for all your PRO needs.

Well, there is no fixed cost as it varies depending on various factors like what specific tasks you would like to accomplish, how much time is required, nature of work and many more. Some PRO companies offer PRO packages in Dubai which you can choose as per your need. If you are not sure then get in touch with Expand Tax and Businessmen Services for affordable PRO services in UAE.

 

All you can do is to contact us, choose your PRO Services preferences and we will make them happen.

What we offer

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Service features

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  • Online marketing, content marketing, etc.
  • Create strategies that are optimized for search engine results.
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  • Online marketing, content marketing, etc.
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  • Drive traffic to the websites.
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  • Online marketing, content marketing, etc.
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  • Drive traffic to the websites.

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]]> 2700 Branch Office Setup in Dubai https://expand.company/service/office-setup/ Tue, 19 Jul 2022 03:46:54 +0000 https://demo2wpopal.b-cdn.net/binario/?binario_service=marketing-strategy Menu UAE Corporate Tax Tax And Accounting Office Setup PRO Services VIP Medical Test & Emirates ID Attestation, Translation & Patent Registration Import Export Code Registration Bank Account Opening Marketing And Advertising Services How Much Does it Cost to Set Up a Company In Dubai? Identify your startup expenses Cost Calculator Establishing a Branch Office […]

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Establishing a Branch Office in Dubai

Are you a foreign investor or an entrepreneur seeking to expand your business in the UAE by opening a branch office in Dubai? You are not alone. Dubai, being one of the fastest growing economies, has become one of the hottest attractions for foreign investors. Dozens of multi-national companies are opening representative offices and branches in Dubai and grow their businesses at a much faster pace.

However, before setting up a branch office in Dubai, it is necessary that you have an extensive due diligence to make sure the business structure you are planning to adopt suits your commercial objectives.

Considering the influx of foreign businesses into the metropolis, authorities have devised an easy and quick way for establishing a branch office in Dubai. But you need to hire services of a consultant firm registered in Dubai to help you set up a branch office ensuring you opt for a the right business structure and fulfill all the regulatory requirements.

Expand Tax and Businessmen Services will make the process of opening a branch office in Dubai quick, easy, simple and clear as possible. Our team of experts will guide you in detail through every step, to make the process hassle free for you.

Types of branch offices you can open in Dubai

You can establish one of the two main types of branch offices in Dubai

  1. Branch offices set up in mainland Dubai
  2. Branch offices set up in free zone

The main difference between these two branch types is that free zone business are subject to the registration and licensing requirements as set by the authority in which they operate. Also, free zone businesses are subject to specific share capital requirements.

On the other hand, establishing a branch office in Dubai mainland does not require minimum share capital.

If you are finding it difficult to decide where to set up a branch office in Dubai, our highly friendly and cooperative local consultants can help you decide the location. Besides, we can also help you with the registration process for opening a branch office in Dubai.

Here is a step-by-step guide to help you understand the process

Step 1: Choose the right location for your office

A branch office can be established in mainland Dubai or dedicated free zones. The difference is made by the taxation system, as well as other facilities.

Step 2: File an application for your office setup

Initiate the process by filing an application with the Ministry of Economy. When submitting the application, you will also be asked to provide a service agent agreement. One customary condition to initiate the application process is to have a UAE national as your service agent.

Step 3: Get Ministry of Economy Consent form

The Ministry of Economy will then send your application for approval to the Economic Department of Dubai or the relevant emirate in which you plan to set up a branch office. The Ministry of Economy provides an agreement only after the local government body approves the application.

Step 4: Get the ministerial license

Once the relevant local government body approves the application, Ministry of Economy issues license to the company. The license will also define the kind of business activities the company can undertake.

Step 4: Get your business license in Dubai

This is the most crucial stage of the entire process. The local Economic Department will register your branch office after reviewing all the required documents necessary approvals. Once your branch office will be registered, the local body will issue the Business License.

Step 5: Get Registered with the Commercial Authorities

Once you have obtained all the necessary approvals and licenses, register your branch office in Dubai with the local commercial authorities and start operations. While registering with some local authorities is optional, you are required to register your branch office with the Ministry of Economic Companies Register and the Dubai Chamber of Commerce.

Contact us

If you want to establish your branch office in Dubai and wondering how to get started the process? How much cost is involved? freezone or mainland office setup?  or any other question comes to your mind then reach out to our experienced team at Expand Tax and Businessmen Services. Avoid the lengthy process of branch registration and running after the concerned authorities to obtain regulatory approvals, contact Expand Tax and Businessmen Services and we will take care of the entire process. We are a leading business consultancy firm in Dubai offering assistance in registering all types of businesses in Dubai and all over the UAE.

To know more about establishing a branch office in Dubai and other business setup services we offer, call us now and speak to our friendly business consultants.

 

What we do

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What we offer

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Service features

  • We donec pulvinar magna id leoersi pellentesque impered dignissim.
  • At vero eos accusamus et iusto odio dignissimos provident nam.
  • Online marketing, content marketing, etc.
  • Create strategies that are optimized for search engine results.
  • Drive traffic to the websites.
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Service features

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