Tax Consulting

As a certified tax agency, we give our clients best advice on all aspects of UAE VAT, GCC VAT and GCC Customs, whether you are a global head of indirect tax or a sole trader we help to reduce the cost of VAT and duties, simplify procedures and ensure compliance. We’re here to answer any questions you have regarding VAT. Our experts remove the complexity and give you a clear understanding of your obligations. Our aim is always to help taxpayers lessen the administrative burden of dealing with VAT and ensure that VAT reliefs/opportunities are maximized wherever possible.​

Companies are often unaware of VAT legislation, rules, regulations and policies that are constantly subject to amendments. Hence, our VAT advisory team provides a series of guidelines and specialized practical advice to help your business achieve compliance with VAT policies and address issues and amendments of VAT and its legislation. Our team is composed of certified tax agent that is expert to handle tax related procedures and concerns. AATC Accountants competent team as VAT Consultants & Indirect Tax Advisor in Abu Dhabi, provides best advice on all aspects of UAE VAT.

Why AATC Accountants ?

Professionally qualified and experienced VAT Consultant and Advisors in Abu Dhabi.

Cost Effective VAT consulting and advisory services in Abu Dhabi and UAE.

Compliance to International standards & applicable rules and regulations.

Value Added Tax

Value Added Tax or VAT is a tax on the consumption or use of goods and services levied at each point of sale. VAT is a form of indirect tax and is used in more than 180 countries around the world. The end-consumer ultimately bears the cost. Businesses collect and account for the tax on behalf of the government. Value Added Tax (VAT) was introduced in the UAE on 1 January 2018. The rate of VAT is 5 percent.

As your tax agent, we will handle preparation of your VAT returns.

• VAT Registration and De-registration
• VAT on Import and Export
• VAT on Real Estate
• VAT on Education
• VAT on Properties
• VAT Implementation on your business
• VAT on Healthcare services
• VAT on Gold and Diamonds
• Claim a VAT Refund
  • for New Residence of UAE National
  • on excess VAT

Excise Tax

Excise tax was introduced across the UAE in 2017. Excise tax is a form of indirect tax levied on specific goods which are typically harmful to human health or the environment. These goods are referred to as “excise goods”.

When considering whether a product is an excise good, the following definitions apply:

Carbonated drinks include any aerated beverage except for unflavoured aerated water. Also considered to be carbonated drinks are any concentrations, powder, gel, or extracts intended to be made into an aerated beverage.

Energy drinks include any beverages which are marketed, or sold as an energy drink, and containing stimulant substances that provide mental and physical stimulation, which includes without limitation: caffeine, taurine, ginseng and guarana. This also includes any substance that has an identical or similar effect as the aforementioned substances. Also considered to be energy drinks are any concentrations, powder, gel or extracts intended to be made into an energy enhancing drink.

Tobacco and tobacco products include all items listed within Schedule 24 of the GCC Common Customs Tariff.

Rate of excise tax

The rates of excise tax in the UAE will be:
50 per cent for carbonated drinks
100 per cent for tobacco products
100 per cent for energy drinks.

As your tax agent, we will handle preparation of your Excise tax returns.

Accounting & Bookkeeping

Businesses are often under intense cost and time constraints. As for business owners, owning and managing a business requires you to perform numerous tasks, one of those responsibilities is accounting. However, this can be extremely challenging. Therefore, it is important to have a professional and qualified individual looking over your accounts.

We at AATC, can handle your accounting and bookkeeping so that you can focus on your day-to-day business responsibilities.

​Outsource with us

Many business owners have weighed and realized the pros and cons of managing their accounts. Many of them ultimately decided to outsource. Outsourcing is cheaper in costs, more effective and efficient.

Your accounting will be handled by accounting professionals with experience in various industries.

​Software we use​
We use a cloud-based accounting software, the most convenient for all users. It’s accessible, cost-efficient and time-efficient.

Books can now be accessed anytime and anywhere. Collaboration between business owner, bookkeeper and accountant is more efficient.

Accounting services

• Unaudited financial statements
• Statement of Financial Position
• Statement of Comprehensive Income
• Statement of Cash Flows
• Statement of Changes in Equity
• Accounting records
• Trial balance
• General Ledger
• Day-to-day bookkeeping and accounting entries
• Bank and other reconciliation reports
• Debtors/Creditors aging schedule
• Audit schedule
• Management accounts
• Inventory listing and other listings
• Fixed assets register
• Consolidation
• Storage of documents

Bookkeeping service

• Sales listing
• Expenses listing

Payroll Services

Staff costs form the most significant element of your company’s Income Statement. Ensuring the accurate calculation of salaries, allowances and benefits will keep your expenses controlled, compliance with laws and regulation and also bring satisfaction among your staff.

• Maintain payroll file for each employee
• Salary calculation on bi-monthly or monthly basis
• Process no pay leave and expense claims
• Provide detailed payroll report for management’s review
• Flexible data submission
• Payroll processing that adjust to your needs
• Solution tailored from full featured corporate payroll management to limited payroll processing
• Flexible payroll submission options – online or via email.
• Time analysis of employees, departments and organization
• Preparation of Cheque to staff for monthly salary disbursement

Accounting Software Implementation

We advice our clients to use cloud-based accounting software for an accessible, cost-efficient and time saving handling of accounts.

With the numerous accounting softwares in the market, we will advice you on what accounting software best fits your business. We provide services from installation to implementation of this software.

Audit and Assurance Services

We offer extensive auditing and assurance services. Our certified public accountants cover all key components and produce audit services according to standards.

Feasibility Study

We offer specialized feasibility study services by conducting a quality study and giving you a detailed report for your business. We will help you on your decisions to execute or not the method for your business.

Our team of certified accountants will conduct the study and will analyze all the components of your business.

UAE Corporate Tax

Introduction

The Federal Decree-Law No. 47 of 2022 on the Taxation of Corporations and Businesses (hereinafter referred to as the “Corporate Tax Law”) was issued by the United Arab Emirates (“UAE”), on 09 December 2022. The Corporate Tax Law is effective for financial years starting on or after 1 June 2023.

Corporate Tax will be levied at a headline rate of 9% on Taxable Income exceeding AED 375,000. Taxable Income below this threshold will be subject to a 0% rate of Corporate Tax.

The UAE Corporate Tax Law regime builds from best practices globally and incorporates principles that are internationally known and accepted.

What is Corporate Tax?

Corporate Tax is a form of direct tax levied on the net income of corporations and other businesses.

Corporate Tax is sometimes also referred to as “Corporate Income Tax” or “Business Profits Tax” in other jurisdictions.

Who is subject to Corporate Tax?

Corporate Tax applies to the following “Taxable Persons”:

• UAE companies and other juridical persons that are incorporated or effectively managed and controlled in the UAE;
• Natural persons (individuals) who conduct a Business or Business Activity in the UAE as specified in a Cabinet Decision to be issued in due course; and
• Non-resident juridical persons (foreign legal entities) that have a Permanent Establishment in the UAE (which is explained under Section 8).

Juridical persons established in a UAE Free Zone are also within the scope of Corporate Tax as “Taxable Persons” and will need to comply with the requirements set out in the Corporate Tax Law. However, a Free Zone Person that meets the conditions to be considered a Qualifying Free Zone Person can benefit from a Corporate Tax rate of 0% on their Qualifying Income (the conditions are included in Section 14).

Non-resident persons that do not have a Permanent Establishment in the UAE or that earn UAE sourced income that is not related to their Permanent Establishment may be subject to Withholding Tax (at the rate of 0%). Withholding tax is a form of Corporate Tax collected at source by the payer on behalf of the recipient of the income. Withholding taxes exist in many tax systems and typically apply to the cross-border payment of dividends, interest, royalties and other types of income.