Auditac International Consultancy LLC

7 Benefits of Outsourcing Accounting in the UAE 🇦🇪 Looking to streamline your financial operations? Here’s why outsourcing to Auditac International is a smart choice: 1️⃣ Cost Savings – Pay only for the hours of services you need. 2️⃣ Expert Knowledge & Tools – Access up-to-date expertise and technology. 3️⃣ Focus on Core Business – Free up time for growth. 4️⃣ Regulatory Compliance – Avoid penalties and stay compliant. 5️⃣ Improved Accuracy – Minimize errors and reduce risk. 6️⃣ Scalability – Services that grow with your business. 7️⃣ Timely Insights – Make informed decisions with real-time data. Ready to optimize your finances? Read the full blog in detail! https://lnkd.in/geCSFvuJ Mahamad Hanif, FCA,CIPM #UAEAccounting #AuditacInternational #Outsourcing #BusinessGrowth #FinancialManagement #AbuDhabiAccouting #DubaiAccouting

Understanding the FTA’s Guidelines on Determination of Taxable Income: Key Insights for Businesses The UAE’s Federal Tax Authority (FTA) has recently introduced crucial guidelines on determining taxable income, a significant move that businesses must stay on top of to ensure compliance and streamline their tax strategies. Here are the key takeaways from the FTA’s corporate tax guide: Connected Persons & Market Value Compensation: Transactions between related parties must be at market value to prevent income manipulation. Depreciation, Amortisation & Depletion: Provisions for asset wear and tear are allowed, ensuring accurate taxable income reflection. Interest Expense Deduction: Limitations on interest deductions ensure fair treatment of excessive interest claims. Dividend Income: Dividends from resident juridical persons are tax-exempt, while foreign dividends require meeting specific conditions. Private Pension Funds: Deductions on contributions to private pension funds are allowed, supporting tax-efficient employee benefits. Losses & Reliefs: The guidelines detail how businesses can manage losses strategically to minimize tax liabilities. Foreign Tax Credit: Foreign tax credits are capped to ensure businesses don’t drastically reduce their UAE tax obligations. For businesses operating in the UAE, these guidelines underscore the importance of accurate financial reporting, strategic planning for transactions with connected persons, and efficient management of provisions and losses. Navigating these regulations can be complex, but with professional guidance, businesses can remain compliant while optimizing their tax strategies. Read the full blog to learn more! Link: https://lnkd.in/gmX5-Ffd Mahamad Hanif, FCA,CIPM #CorporateTax #UAE #FTA #Taxation #BusinessCompliance #TaxStrategy #TaxConsulting #AuditacInternational #FinancialReporting

How UAE Citizens Can Get a VAT Refund on New Home Construction The UAE’s Federal Tax Authority (FTA) has launched the 'Maskan' app to simplify VAT refunds for citizens building new homes. This digital platform lets users easily submit VAT refund applications, scan invoices, and track progress—all from their phones. Key Features of the 'Maskan' App: 1 Digital Submission: Submit VAT claims online, no paperwork needed. 2 Barcode Scanning: Quickly enter invoices by scanning barcodes. 3 Secure Login: Use UAE PASS for secure access. How to Claim Your VAT Refund: 1 Register for UAE PASS: Get your login credentials. 2 Create Your File: Enter your details in the app. 3 Submit Invoices: Scan and upload invoices. 4 Track Your Application: Monitor status in real-time. Eligible VAT refunds include construction services and materials, while non-eligible items include furniture and appliances. For more details, read the full blog. https://lnkd.in/gBmtaHBt Mahamad Hanif, FCA,CIPM

Zero Percent Tax in UAE Free Zones: What Distributors & Traders Need to Know The UAE's new corporate tax law has changed the game for businesses, especially those in Free Zones. Here's what distributors and traders need to know to make the most of the zero percent tax rate: Key Points to Understand Corporate Tax Overview: • Mainland Businesses: 0% tax on income up to AED 375,000; 9% tax above that. • Free Zone Businesses: 0% tax on qualifying income for Qualifying Free Zone Persons (QFZPs); 9% tax on non-qualifying income. Benefits for Trading Companies • Zero Percent Tax: Trading companies in designated free zones can enjoy zero percent tax, boosting exports and manufacturing. • Distribution: Companies can import and distribute goods with tax benefits, subject to certain conditions. • Import/Export: Goods imported into a free zone and exported to customers outside the UAE are eligible for zero percent tax. Compliance for Tax Benefits • Substance Requirements: Ensure adequate staffing and conduct business from within the free zones. • Customer Use: Zero percent tax applies only if goods are not for customer consumption. Key Benefits of Free Zones • Zero Percent Corporate Tax: No corporate tax on profits, allowing for reinvestment. • 100% Foreign Ownership: No need for a local partner. • Full Repatriation of Profits: Complete flexibility with profits and capital. • Customs Benefits: Duty exemptions and streamlined procedures. • Simplified Setup: Faster and easier business setup compared to the mainland. The zero percent tax incentive in UAE free zones offers a significant advantage for distributors and traders. With proper planning and compliance, businesses can thrive in this lucrative environment. Need help with corporate tax in Dubai's free zones? Auditac International has the expertise you need. Connect with us to learn more about zero percent tax in Free Zones. Read the full blog for more details! Link: https://lnkd.in/grV_ugHF Mahamad Hanif, FCA,CIPM #corporate #tax #dubai #uae #auditac

Decoding Corporate Tax Implications on UAE Real Estate Investors The UAE's thriving economy and strategic location make it a prime spot for real estate investors. Recent changes in corporate tax regulations impact this sector significantly. Understanding the Corporate Tax Regime: Here's a quick overview: Entities: running a property business are taxed 9% on net profits over AED 375,000. Individual Investments: Generally not subject to corporate tax unless owned by a corporate entity. Income from real estate is taxed in the country where the property is located. Exemptions: Properties owned by individuals directly or through trusts. Qualifying investment funds like REITs. Real estate used for diplomatic purposes. Strategic Planning:Investors need a strategic approach to comply with new tax laws and optimize investments. At Auditac International, we provide expert guidance to help you navigate these changes. Read the full blog for detailed insights and personalized advice. Read the full blog : https://lnkd.in/eSxVErpT #auditac #tax #expert #guidance

Understanding Corporate Tax and Transfer Pricing in the UAE: A Comprehensive Overview Gain insights into the intricacies of corporate tax and transfer pricing in the UAE for businesses seeking clarity on these complex topics, this resource offers valuable information on compliance, procedures, and best practices. Welcome to our exploration of corporate tax and transfer pricing in the UAE. In this blog, we'll delve into key concepts, regulations, and strategies to help professionals navigate these critical aspects of business operations. Let's begin by examining transfer pricing, a fundamental practice in multinational enterprises (MNEs). It involves establishing fair prices for transactions between related entities, ensuring compliance with the Arm's Length Principle (ALP) to reflect market value accurately. As businesses prepare for corporate tax registration, it's essential to understand the options available, such as standalone entity registration or inclusion in a tax group. Each approach carries its implications and requirements, necessitating careful consideration. To comply with UAE corporate tax laws, meticulous attention to detail is paramount. This includes maintaining accurate financial statements prepared according to international standards, with auditing mandated for entities surpassing designated revenue thresholds. Transfer pricing procedures demand rigorous adherence to documentation and regulatory standards. Proper preparation of financial statements before the tax year commences, along with adherence to auditing requirements, ensures robust compliance and mitigates risk. In conclusion, corporate tax and transfer pricing are integral components of business operations in the UAE, demanding a nuanced understanding and proactive adherence to regulatory frameworks. Our team at Auditac International stands ready to assist professionals in navigating these complexities effectively. Reach out to us for expert guidance and support on corporate tax in UAE and transfer pricing matters. Read the full blog: https://lnkd.in/gFhgXtKG Mahamad Hanif, FCA,CIPM #tax #auditac #uae #professional #guidance

Navigating UAE Corporate Tax Registration Deadlines for Foreign Entities Discover the intricacies of UAE Corporate Tax Registration deadlines for foreign entities in our latest LinkedIn post. Gain valuable insights into who needs to register, important deadlines, and the consequences of non-compliance. Join us as we delve into the nuances of UAE Corporate Tax Registration for foreign entities. Our team will provides essential information on eligibility criteria, registration deadlines, and the penalty for non-compliance. Understand the criteria for determining tax residency for foreign juridical persons and the implications of having a place of effective management (POEM) or a Permanent Establishment (PE) in the UAE. Learn about the final deadlines for tax registration based on the establishment date and the consequences of missing the deadlines. Stay informed about the ongoing registration process for foreign entities and the penalties imposed by the UAE government for non-compliance. Our expert team at Auditac International is here to guide you through the corporate tax registration process and ensure seamless compliance. Connect with us to explore tailored solutions for your corporate tax needs and unlock growth opportunities for your business. Let Auditac International be your trusted partner in navigating the complexities of UAE corporate taxation for foreign entities. Read the full blog: https://lnkd.in/g-YMHXsx Mahamad Hanif, FCA,CIPM #uae #corporatetax #registration #auditac #profit

Navigating UAE Corporate Tax Registration: A Comprehensive Guide Embark on a journey to understand the intricacies of UAE Corporate Tax Registration with our detailed guide. Learn about the timeline, eligibility criteria, and step-by-step process to ensure seamless compliance and unlock your business's financial potential. Join us as we unravel the complexities of UAE Corporate Tax Registration in our latest LinkedIn post. Discover essential insights into who needs to register, the timeline for registration, and the technical aspects of the registration process. Gain clarity on the eligibility criteria for corporate tax registration and understand the importance of obtaining a Tax Registration Number (TRN) for your business. Our expert team at Auditac International provides valuable guidance on gathering required documents, submitting the application, and navigating the approval process with ease. Explore the significance of timely responses to FTA requests and the final steps to obtain your TRN for corporate tax. With our comprehensive guide, you'll be equipped to file for corporate tax in your designated tax period and ensure compliance with UAE tax regulations. At Auditac International, we're committed to simplifying the corporate tax registration process for businesses in the UAE. Connect with our experienced team today to streamline your tax compliance journey and achieve financial success. Read the blog : https://lnkd.in/g6JGg2sF Mahamad Hanif, FCA,CIPM #uae #tax #international #auditac

The Significance of Proper Bookkeeping for Corporate Tax Compliance in the UAE Discover why maintaining accurate bookkeeping is essential for corporate tax compliance in the UAE. Learn how meticulous accounting practices benefit businesses, ensure timely tax payments, and mitigate the risk of penalties. Unlock the secrets to successful corporate tax compliance in the UAE through meticulous bookkeeping. In our latest blog, we delve into the vital role of maintaining comprehensive financial records for businesses operating in the UAE. From historical data for audits to timely tax calculations and payments, we explore the numerous benefits that proper bookkeeping offers. Stay ahead of the curve with our expert insights into the importance of accurate financial data in corporate taxation. Gain valuable knowledge on avoiding penalties, preparing for taxation, and analyzing your business's financial health through effective bookkeeping practices. At Auditac International, we understand the critical importance of proper bookkeeping for corporate tax compliance. Our team of financial experts is dedicated to providing unparalleled support and guidance to businesses in the UAE. Connect with us today to ensure your business stays on the path to success with impeccable bookkeeping practices. Read the full blog: https://lnkd.in/gG6cx38W Mahamad Hanif, FCA,CIPM #bookkeeping #tax #uae #auditac

An insight into UAE Corporate Tax Calculation: Navigating corporate tax in the UAE can be complex, but with our expert insights, you'll grasp the essentials of calculating corporate tax effortlessly. Learn the ins and outs of UAE corporate tax laws, deductions, and planning strategies to optimize your financial management. Embark on a journey to demystify corporate tax calculation in the UAE with our comprehensive guide. Discover the fundamental principles of corporate tax and gain valuable insights into the intricate world of tax management and planning. From understanding taxable income to leveraging deductible expenditures, our guide equips you with the knowledge needed to navigate corporate taxation effectively. Stay informed about recent updates in tax laws and regulations to ensure compliance and maximize your tax benefits. Explore the nuances of tax loss relief, unrealized gains or losses, and exempt income to make informed decisions that optimize your financial outcomes. Corporate tax planning is not just about minimizing tax liabilities; it's about strategically managing your finances to drive sustainable growth and profitability. Our expert advice and tailored solutions empower you to proactively plan your corporate tax obligations while staying aligned with ethical and legal standards. At Auditac International Consultancy, we're committed to providing expert guidance and support to help you navigate the complexities of corporate tax in the UAE. Connect with our team of professionals today to embark on your journey towards mastering corporate tax calculation and planning. Read the full blog: https://lnkd.in/g2eUgViG Mahamad Hanif, FCA,CIPM #auditac #uae #corporatetax #tax #outcome