VAT Calculator
About us
We provides Tax Services, Software’s and advisory services tailored to the needs of various industries and clients.
Dxb Taxes has been working in UAE since 2017 along with more than 20 years experience of its partners, who enjoys an unrivalled reputation among clients. Our client base in UAE comprises over 500 companies. We are proud of the trust we have earned from shareholders and the top management of our clients for such a long period of time.
Over 60 professionals working in our offices in Dubai , share their thinking, industry experience and creativity to develop unique solutions and practical advice for our clients, adding real value to their businesses and dealing with their risks.
OUR SERVICES
VAT in UAE & GCC
Value-Added Tax or VAT is a tax on the consumption or use of goods and services levied at the point of sale.
Implication of VAT
VAT, as a general consumption tax, will apply to the majority of transactions in goods and services.
Corporate Tax
Corporate tax is a form of direct tax levied on the net income or profit of corporations.
UBO
The Ultimate Beneficial Owner refers to the natural person who ultimately owns or controls a legal entity.
ESR
The Economic Substance Regulations were introduced in the UAE to align the country.
AML
AML in the context of tax in the UAE refers to Anti-Money Laundering. Anti-Money Laundering.
VAT in UAE & GCC
Value-Added Tax or VAT is a tax on the consumption or use of goods and services levied at the point of sale. VAT is a form of indirect tax and is used in more than 180 countries around the world.
The UAE is considering levying Value Added Tax (VAT) from January 2018. The rate of VAT will be 5 per cent. VAT will provide the UAE with a new source of income which will be continued to be utilized to provide high-quality public services. It will also help government move towards its vision of reducing dependence on oil and other hydrocarbons as a source of revenue.
The UAE needs to coordinate VAT implementation with other GCC countries because she is connected with them through ‘The Economic Agreement between the GCC States’ and ‘The GCC Customs Union’. The GCC has always worked together in designing and implementing new public policies as such collaborative approach is best for the collective development of the region.
Implication of VAT on individuals
VAT, as a general consumption tax, will apply to the majority of transactions in goods and services. A limited number of exemptions may be granted. As a result, the cost of living is likely to increase slightly, but this will vary depending on an individual’s lifestyle and spending behaviour. If an individual spends mainly on those things which are relieved from VAT, he is unlikely to see any significant increase. The government will include rules that require businesses to be clear about how much VAT an individual is required to pay for each transaction. Based on this information, individuals can decide whether to buy something.
Implication of VAT on businesses
Businesses will be responsible for carefully documenting their business income, costs and associated VAT charges. Businesses that meet the minimum annual turnover requirement (as evidenced by their financial records) will be required to register for VAT. Businesses that do not think that they should be VAT registered should maintain their financial records in any event, in case the ministry needs to establish whether they should be registered. Registered businesses and traders will charge VAT to all of their customers at the prevailing rate and incur VAT on goods/services that they buy from suppliers. The difference between these sums is reclaimed or paid to the government.
Corporate Tax
Corporate tax is a form of direct tax levied on the net income or profit of corporations and other entities from their business. Corporate tax is sometimes also referred to as “Corporate Income Tax” or “Business Profits Tax” in other jurisdictions UAE Corporate Tax will apply to all UAE businesses, except for the extraction of natural resources, which will remain subject to Emirate level corporate taxation. Foreign entities and individuals will be subject to Corporate Tax only if they conduct a trade or business in the UAE in an ongoing or regular manner. UAE Corporate Tax will apply equally to all categories of profits and other (net) income reported in the financial statements prepared in accordance with internationally acceptable accounting standards.
VAT Compliant Accounting Software
We offer VAT Accounting software (Accountrak) with inventory management. Other inbuilt modules are accounts receivable , accounts payable and payroll with more than 50 customized reports. Automatic calculation of VAT returns as per FTA rules. This software satisfies all functional requirements as per Federal Tax Authority(FTA) guidelines.
Some of the key features of this accounting software are:
- Management of income and expenses
- Invoicing customers with professional, and customizable invoices
- Accurate reconciliation of bank statements with accounts
- Automatic calculation and generation of VAT returns
- Auto generation of FTA audit file
Company Incorporation
Dxb Taxes Offering the best and fastest service in UAE for New company incorporation, Renewals and Liquidation. Whether you want a start a new company or a branch office, A main land company or free zone company, Dxb Taxes have a solution for you.
We understand that each client’s requirements are different and unique to them and we always provides the best solution to our customers. UAE has currently 40+ Free Zones and each free zone has different activities that are being promoted in that particular free zone.
We not only guide our customers to the best options but also help them complete all formalities and procedures so that the complete process is as easy as possible. Contact us today to discuss your ideas and let us bring your thoughts and imagination into reality.
Our Associates
At A2Z Invest, our commitment is clear: “We will take care of your money.” With a strategic asset allocation and top-notch business insights, we are dedicated to providing you with valuable returns on your investments. Trust A2Z Invest to expertly manage your financial growth and secure your future with our comprehensive and innovative investment strategies.
At DXB Incorp, our mission is clear: “We provide services regarding company incorporation in Dubai.” Our dedicated team of experts ensures a seamless and efficient process for establishing your business in this dynamic market. With comprehensive support and deep local knowledge, DXB Incorp is your trusted partner for navigating the complexities of company formation in Dubai.
#EXPERT PEOPLE
Meet Our Team
Syed Asif Zaman
Co-Founder & CEO
FCA-ICAP, ACA, ICAEW, FPFA, FAIA, CISA, BFP, MBA, B.Sc.
Alia Noor
Associate Partner
FCMA, MBA, CIMA
