Get expert tax consultancy services from BMS Auditing. We provide tailored solutions for Corporate Tax, VAT, Transfer Pricing, Excise Tax, and ESR Compliance to keep your business compliant in the UAE.
The constantly changing UAE business environment suggests it is tough to monitor the course corrections in the UAE tax laws for realizing successful business development. This is where BMS Auditing comes into play.
From our seasoned tax experts, you will receive tailored solutions for tax advisory services to take you through the intricacies of UAE tax law. No matter whether you are a business start-up or a multinational company, our tailor-made tax solution is always made in your best interest, matching your specific needs and direction related to your business. We aim to mitigate tax risks so that tax obligations can be settled with minimum exposure and your company has all opportunities to seize any potential.
Our Major Tax Services
BMS Auditing offers a general range of tax services to support businesses of different sizes and sectors. With our experience and the latest tools and knowledge, we ensure that your business remains in compliance with UAE tax laws, while at the same time helping it towards long-term success.
1. Corporate Tax Services
On June 1, 2023, the United Arab Emirates introduced Corporate Tax (CT). This affects all companies, regardless of their nature or industry. Our corporate tax service supports you in every step from impact assessments to full tax compliance, adapting your business to the new regulation. We can offer you much more:
- Corporate Tax for Free Zone Companies
- Corporate Tax Compliance Support
- Corporate Tax Impact Assessment
2. VAT Consultancy
Since the introduction of VAT in 2018, most businesses in the UAE have imposed and paid a 5% VAT on most products and services. BMS Auditing offers full VAT consulting services so your business will be updated with the VAT regulations and reporting requirements. Some services we offer are the following:
- VAT Health Checks
- VAT Registration and Return Reviews
- VAT Refund Applications
- VAT Voluntary Disclosure
3. Transfer Pricing Advisory
An international company cannot afford not to be in line with the proper transfer pricing regulations. Our transfer pricing services by professional experts take care of intercompany transactions in complete accordance with UAE laws and international standards, guiding you through them. Our services include:
- Transfer Pricing Documentation
- Country-by-Country Reporting (CbCR)
- Transfer Pricing Policy Development
- Transfer Pricing Advisory Services
4. Excise Tax Services
The excise tax is imposed on particular items with negative implications for the health and well-being of the public or the environment. This category includes tobacco products, carbonated beverages sodas, and energy drinks. Our crew will assist businesses in understanding their excise tax responsibilities so they can stay in compliance and decrease their liabilities.
5. ESR Compliance
The ESR UAE Economic Substance Regulations mandates business proof of real economic activity in the country. BMS Auditing assists businesses in identifying and complying with ESR requirements like:
- ESR Notification and Reporting
- Guidance on Relevant Activities
- Support in the application of Penalties, Appeals, and Audits
It will enable you to know major taxes that affect your business operations in the UAE, keeping you compliant. A summary of the key taxes affecting companies reads out as follows:
- Corporate Tax: Since 1 June 2023, profits of AED 375,000 and above shall have a 9% rate, while profits made within this threshold will be subjected to a rate of 0%; let our corporate tax services ensure that you understand and comply with this requirement.
- VAT: The UAE product is taxed at a 5% VAT. We assist a business with VAT registrations, filings, and applications for refunds to ensure that they are compliant in all manners.
- Excise Tax: This tax is imposed on articles deemed hazardous to both health and the environment. We assist our clients in meeting their reporting requirements concerning excise tax in order to avoid penalties.
- Tourist Tax: In terms of taxation, it is applied to hotels and meals, among others. Thus, a tourist tax in the UAE is necessary. In managing such tourist tax liabilities, we advise clients to comply with such as running businesses within the tourism and hospitality industries.
Why BMS Auditing for your Tax Consultation?
The Right Tax Advisor Knows the Difference to Your Business' Longer Growth and Its Financial Health: Here is why BMS Auditing is the right choice for any business seeking to have a sound foundation in the UAE.
- Expert Guidance: Our team is highly knowledgeable about the latest tax regulations in the UAE, with practical solutions tailored to your business's needs.
- Complete Coverage: We are fully involved in comprehensive tax services, including corporate income tax, VAT and transfer pricing, and excise tax. This way, we cover all provisions of your tax obligations from end to end.
- Tailor-made Solutions: We take our time to understand your business and implement customized strategies that support your aims and ensure compliance.
- New Law Updates: We keep you updated with any new tax law amendments and keep your business on the latest radar of new regulations.
- Success Story: BMS Auditing has gained experience over many years in extending its tax consultancy to wide cross-sections of clientele cut across various sectors and has always succeeded in achieving tax compliance and business success.
At BMS Auditing, we can be sure of delivering quality tax consultancy services that can propel your business to success in the UAE. Whether seeking advice on corporate tax, VAT, excise tax, or ESR compliance, we are here to guide you every step of the way.
Contact us today to book a consultation and let us walk you through the complexities of the UAE tax system with confidence.
