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Your Business in UAE
2016 was the year when UAE government finally established a Federal Tax Authority. This authority is directly supervised by the president of UAE; H.H Sheikh Khalifa bin Zayed Al Nahyan.
The purpose behind this decision was the addition of new services to the whole economic system, intensification of UAE’s economic firmness, increasing non-oil production income and decreasing rate of dependency on oil industry.
Value added tax is what UAE government introduced in 2018. Every onshore company like Free Zone and Mainland is bound to work under VAT regulations. If you want to startup an offshore company then you are exempted from the VAT.
Luckily, there is no income tax apply on any type of business in UAE. Both the individual and corporate company is exempted from this tax. This is total zero at all.
This is the tax that applies on certain fixed goods. The reason to tax those goods is that these goods are damaging to health or habitat, for example: tobacco and soft or energy drinks.
(VAT) Value Added Tax
This tax is usually applied on the value or amount that is increasing with the passage of time. It is clear from the name “Value Added Tax”. It means it works on the amount of a product or good which value increases at each stage of its production. It is also known as goods and services tax (GST).
VAT is an indirect tax that is implemented in almost 150 countries across the globe. VAT is more effective regulations than a common sales tax. The main point is that, consumers bear this VAT tax and companies are just a collector as per Federal Tax Authority’s rules.
You need an authorized company registration agent or professional business consultants in UAE to guide you through the whole process. EBMS provides you comprehensive range of services from getting registered to fully functional stage of your Business. Give your fate a chance and try to explore easy and efficient way of business startup with our professional business services providing staff.