Stay compliant with the latest UAE tax regulations with expert tax advisory and compliance services from BMS Auditing. Navigate corporate tax, VAT, excise tax, and more with tailored solutions for your business.
It is never easy navigating the plethora of tax regulations in the UAE: a start-up or even an international group managing its affairs. If you want your business to be safe and sustainable, then getting in line with changing tax rules is crucial. With BMS Auditing, come and experience our tax advisory and compliance services to stay ahead and comply with all tax obligations.
Why You Need Professional Tax Advice
In such a quick-paced tax environment as the UAE, business environments must know about the present laws and legislation. Businesses need to pay the correct amount of tax to remain compliant with corporate tax, VAT, excise tax, and other kinds of taxes. In the past few years, the UAE government introduced several changes, like the new corporate tax introduced along with VAT and excise tax in 2023. These are both time-consuming and complicated in terms of dealing with the core business running activities.
BMS Auditing is staffed by expert professionals, well-equipped with the necessary tax know-how on UAE tax law. Our consultants specialize in helping businesses navigate current and new regulatory situations, optimize tax strategies, and minimize non-compliance risks.
UAE Tax Updates
Recently, the UAE has witnessed various tax reform measures. In 2023, the UAE brought in Corporate Tax for companies, which was previously applicable to oil companies and foreign banks as CT. Under the recently enacted Corporate Tax Law, income above AED 375,000 or approximately USD 102,000 is subject to a levy of 9 percent. Another new feature of this is compliance with transfer pricing provisions for transactions executed between parties associated with each other. This also remains another clause according to the OECD guidelines.
Introduced in addition to corporation tax was VAT, at the standard rate of 5% applicable to the UAE from 2018, levied upon taxable goods and services. This has added more to the weight of business burdens that are now also expected to meet the new VAT reporting and filing obligations.
These include Excise Tax, which is paid for goods considered to give rise to adverse effects on health or environment, and Economic Substance Regulations (ESR), which require a business in the UAE to have significant economic activities by reporting profits that are according to the real course of business.
At BMS Auditing, we keep you updated with all these changes through continuous updates and tailor-made tax services according to the latest laws and requirements.
Tax Advisory and Compliance Services
We provide you with comprehensive and integrated advisory solutions for tax and compliance, keeping pace with your business. We will illustrate complicated tax legislation to you as a local SME or a global corporation, enabling informed decisions on your part.
Tax Advisory Services
Get strategic insights to optimize your tax position and be compliant with the latest regulations from our tax advisory team. Our services include:
- VAT & Excise Tax Advisory: Get an understanding of the implications of VAT and excise tax on your business and how one can keep himself/herself updated.
- Corporate Tax Advisory: Navigate through the new corporate tax framework, the rates, exemptions, and compliance requirements.
- Transfer Pricing Analysis: We assure you that your transactions with related entities are in line with international standards.
- Risk Assessments: We assess your current tax position and highlight potential risks.
- Training & Workshops: Proper knowledge of UAE's tax laws for your team through customized training sessions.
Tax Compliance Services
Our compliance services ensure that your business meets all tax obligations without the hassle of managing deadlines and filings. We help with:
- It helps prepare and file VAT and excise tax returns for accurate reporting.
- Assist in the preparation and submission of corporate tax returns.
- Assists in preparing master files, local files, and country-by-country report documentation concerning local and international transfer pricing. These include :
- We ensure that the business complies with the requirements of the economic substance by preparing all the report filing and the required reports.
- Registration, amendment, de-registration, and tax clearance certificate handling.
Why Choose BMS Auditing for Your Tax Needs?
BMS Auditing combines UAE tax law with international experience in which the solutions are tailored to the needs of any kind of business. Here's why you should team up with us:
- Expert Team: Our team of expert tax professionals is familiar with both local and international tax laws.
- Latest Tax Developments Awareness: We keep you informed about the latest tax developments, thus keeping you within compliance in terms of current regulations.
- Advisory to compliance, we have a comprehensive suite of tax services.
- Global reach: We work with the best tax practitioners from all parts of the world as part of the global network to deliver you the best possible tax compliance solutions.
- Client-centric approach: We understand that every business is different, and our service delivery is tuned to your needs.
Let Our Tax Compliance Experts Work for You
Tax regulation is probably one of the most complex and volatile. However, at BMS Auditing, you are well taken care of. A professional team will guide you through the tax landscape so you remain entirely compliant, reduce risks, and maximize tax efficiency.
Contact us today to see how our tax advisory and compliance services can benefit your business.
