Strategic Business Plan for Offshore Company Formation

A determined entrepreneur must have a concrete business plan. With it, an entrepreneur knows the potential challenges in the business and providing effective business solutions. And, whenever you struggle in running your business, there is an overall direction and plan in place to follow or refer back.For startups, it is always helpful to have a company formation expert with relevant experience in strategic business planning working alongside you. They can help start your business on a positive note by recommending the most appropriate jurisdiction.

So read on. And, know the benefits of getting a formation agency with the knowledge in effective strategic plans.

 We can suggest you the best offshore registration suitable for your business and can also help you through all the legal complications that can occur in the offshore registration process.

A strategic business plan is essential for offshore company startups. Know the benefits getting a company formation agent with strategic planning skills.

Why Consult a Company Formation Agent for a Strategic Business Plan

Strategic planning can be an effective process in putting a new company abroad. Before registering a business offshore, make sure you also have better business solutions to help you in managing your company.

Always bear in mind that besides foreign companies, it is also important to consider local businesses. So, by tapping on a reliable formation specialist, you can come up with an effective business strategy. This will enable your business to outshine your competitors once you start business activities.

Now, how can you find an agent to help you create an effective strategic plan for your offshore business? Well, this guide will help you choose the right expert for your business needs.

Choosing a Company Formation Agent for Startup Business Plan Solutions

A reliable formation agency is not the only expert in registering a company. They also have the skills to provide effective business solutions, especially for offshore business startups.

Here are the top three qualities of a formation specialist that startups should look out:

Professional Knowledge and Expertise

This is the best quality of a company formation expert. They are fully aware of the local laws of the land. They know the trend and business condition of a particular jurisdiction. So, that makes them a perfect candidate to become a consultant for strategic business plan solutions.

Facilitation Skills

Since they have the knowledge and expertise in the laws and governing policies, they can easily guide you the different process of setting up a company abroad. Thus, a formation expert can immediately identify an issue and provides quick solutions.

Experience

Company formation agents have gone through the same experience as yours. Their actual experiences and interaction with the locals have honed them to become a specialist in helping entrepreneurs set up a new company. What’s more, they can easily help you find the right individuals for your corporate needs.

Get Offshoring Right With A Trusted Formation Agency

Clearly, starting a new business abroad is not all about earning more profits outside your location. It is also about providing the right product and/or service of a certain jurisdiction.

It may sound cliché. But, it would be ideal to have a strategic plan first before putting up an offshore company. So, tap on to the most trusted formation agency today.

 

Steps to Claim Tax Refund Scheme

Complete Steps to Claim Tax Refund Scheme Under UAE VAT

 

 

With the introduction of Value Added TaxVAT in the UAE, among all other schemes Tax Refund Scheme for Tourists has been the most awaited one.  UAE has been a destination for millions of tourists especially Dubai, which is one of the Emirates of the UAE well known for its Tourist Attraction, Business Hubs, Luxury Shopping and its ultramodern architecture.

 

When will VAT refund scheme for tourists be applicable in the UAE?

 

The Federal Tax Authority – FTA  has declared that Tax Refund Scheme for tourists will be initiated from November 2018. In this scheme, tourists will be able to avail for the VAT refund if they shop from retailers who are registered for Tax Refund Scheme under tax refund scheme for tourists.

 

When can retailers register for VAT Refund Scheme for tourists?

 

Retailers registered for VAT under FTA  can start registering for Tax Refund Scheme for tourists from 10th September 2018. Briefing from the FTA related to the above will be held in Abu Dhabi on September 11th, 2018 and subsequently in Dubai.

 

What are the conditions to avail VAT Refund Scheme for Tourist?

 

  • Goods should be bought by the tourist in the UAE.
  • Tourist visiting the UAE must exit UAE within 90 days from the date of shopping along with the items bought.
  • In order to get the VAT Refund, tourists should be sure only to buy from registered businesses for tourist refund scheme in the UAE.                          FTA will lay down the procedures to be followed to avail VAT refund to the tourists.

Where can tourists avail refund of the VAT they paid for their shopping?

The tourist can refund the tax they paid for their shopping only from the outlets and point of sales which are registered under the Tax Refund Scheme for tourists.

 

There will be designated places where the tourists will be able to avail their VAT refund scheme through an electronic system. A digital machine will be able to determine the taxes that are eligible for refund and then the tourists shall be paid accordingly.

 

What are the steps to avail Tourist Refund Scheme?

 

Step No. 1 – To get the Tax-free tag

Once you are finished with your shopping, a “tax-free tag” will be attached to your payment receipt. This “tax free tag” is very important as it will help you further to avail Tourist Refund Scheme with a minimum purchase of AED 250/-. This “tax free tag” is valid for Tourist Refund Scheme for a period of 90 days from the date of purchase. Once your “tax free tag” is validated you will receive 85% of the VAT with less AED 4.80/- deducted for admin fee.

 

Step No. 2 – Validation

It is important to note that validation is mandatory in order to avail Tourist Refund Scheme. For this purpose, you will be required to provide your passport / boarding pass and additional checks will be carried out to ensure everything is carried out in the right way. The validation can be done in 3 major airports of UAE until 16th December 2018 which is Dubai International Airport, Abu Dhabi and Sharjah airport.  Later, validation points for Tourist Refund Scheme will be available in 9 other locations in different emirates.

 

Step No. 3 – Methods of refund

There are two types of refund in which you can avail Tourist Refund Scheme, i.e., by cash or credit. There will be assistance provided by planet  tax free staff in order to get your refunds availed by Tourist Refund Scheme. No one apart from the owner can avail the refund.

 

Nam Accountants houses a wide range of TAX Services for all businesses in the UAE . The Tax Team in Nam  Accountants engages professionals with relevant experience in Taxation hailing from different ends of the globe.

For more details  visit:                                                                                                                      http://www.namaccountants.com/vat-consultant-in-dubai.html                                                                                                                      or                                                                                                                                 contact  : +971-558876440

 

DAFZA slashes business set-up cost by up to 65%

The move is in line with the directives of the UAE leadership to improve competitiveness.

Dubai Airport Free zone Authority (DAFZA) has reduced business set-up cost by up to 65 per cent, as part of its aim to increase DAFZA’s regional competitiveness and activate a number of key sectors by attracting foreign direct investment (FDI).

Dr. Mohammed Al Zarooni, director general, DAFZA, said: “This new approach falls in line with the directions of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, to boost Dubai’s economic competitiveness. This is being done through a number of initiatives and incentives that aim to attract and promote FDI into the Emirate, ensuring sustainable growth across all economic sectors and strengthening Dubai’s status on the world economic stage.”

Reduced business costs

DAFZA has revisited and reduced registration, licence, and staff visa fees for new investors by 65 per cent, 33 per cent, and 20 per cent, respectively. Establishment card issuance fees have been cut by 17 per cent, while fees for Board Resolution and MOA issuance have been waived.

The new incentives include facilitating the process of obtaining general trading licenses for new investors by halving the capital requirement from Dh1 million to Dh500,000. DAFZA has also allowed its member companies to be structured as a Limited Liability Free Zone Company (FZ-LLC), in a bid to provide more flexibility in business setup, licensing and operation.

In addition, DAFZA has waived licence expiry fines in an effort to relax the terms of license renewal. Allowing the restoration of legal records and licenses, the decision will help investors renew their expired license without paying any late renewal fines. This reflects DAFZA’s constant support for the growth of business sectors and its commitment to remove all the obstacles faced by them in order to develop the economy and create a competitive, investment-friendly business environment.

For more details  visit:                                                                                                                                                               http://www.namaccountants.com/                                                                                      or                                                                                                                                                      contact  : +971-558876440

 

UAE’s VAT refund scheme

The Federal Tax Authority (FTA) has held an awareness session in Ajman the campaign, which was in collaboration with the chambers of commerce, was  intended for the merchants and other representatives from the private sector in all norther emirates.

 The government allows visitors to recover the value added tax (VAT) incurred on their purchases through the refund scheme.

The FTA revealed that there has been a notable increase in the number of agreements signed with retailers to register them in the scheme, equip them with the necessary technology to implement it, and link them to airports and land and sea ports in the UAE.

The FTA said that dedicated offices would be established in various locations where tourists can recover taxes. It will be clearly outlining the taxes that are eligible to be refunded through the scheme’s digital system – said to be the “most advanced of its kind in the world.”

While many questions remain unanswered for now, it is likely that more information will become available in the near future. If you are concerned or have any questions as to how the proposed changes will affect your business in the UAE, please do not hesitate to contact us.visit:                                                                                                                                         http://www.namaccountants.com/                                                                                      or                                                                                                                                       contact  : +971-558876440

 

Offshore Company Formation UAE

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company Formation

Offshore company formation UAE

An offshore company is regarded as a legal business set up with an offshore tax haven which is shielded by explicit legislation. The Offshore company formation  UAE ensures special status for those companies that are formed under the jurisdiction. An Offshore company in Dubai is given full tax evasion and operates under high level of privacy and security.

Dubai and Ras Al Khaimah are the only two offshore jurisdictions of UAE. Both these jurisdictions offer identical services, but just differs in terms of strategic objectives of both distinct jurisdictions .

Offshore Company Formation can be of three types-

Offshore Company Formation in Dubai

Offshore Company Formation Dubai -When you want to open Offshore Company in Dubai, Jafza – under Jebel Ali Free Zone Offshore Companies Regulations 2003, allows the formation of an offshore Company by individuals or corporate bodies, as a non-resident company, having a corporate legal entity. These offshore companies enjoy all the advantages of other international offshore company formation. It is also important to note that Dubai has Double Taxation Avoidance agreement with more than 40 countries.

 

Offshore company formation in RAKOffshore Company Formation in RAK, UAE– Ras Al Khaimah Investment Authority launched an offshore facility in 2006, by passing of Ras Al Khaimah Investment Authority’s International Business Companies Regulations 2006 – also called RAK Offshore. Legislation and regulations adopted by the Free Trade Zone Authority favor big international interest for Offshore Company Formation. Rak Offshore Company Formation allows any non-resident individual or corporate to open a company in RAK as an offshore entity.

 

Offshore company formation in JAFZA

Offshore Company Formation in JAFZA, UAE– Jafza is one of the largest and rapidly growing freezone of the world and it is home to about 6400 companies from all over the world. It is a place with great business prospects for upcoming investors in the region. An offshore company formation in Jafza is highly desirable and has a sophisticated process with a lot of legal complexities and documentation .

Benefits of Offshore Company Incorporation:

  • 100% foreign ownership, there is no need for a UAE national to be a shareholder or sponsor
  • Exempt from corporate and income taxes.
  • No foreign currency restrictions.
  • Full repatriation of profits and capital
  • Setting-up costs are less than that of an onshore Company
  • No physical office needed, therefore, no employees and related costs
  • Minimum capital requirements
  • Own interest in real estate (as approved by the relevant authority) in the UAE and can act as a Holding Company                                                                           If you are looking for an offshore company formation, then we as expert business advisors can do this job for you with full professionalism and as per your satisfaction.                                                                                                                                                                                               For more details visit :http://www.namaccountants.com/offshore-company-formation.html                                                                                                                                                            or                                                                              Contact us :       http://www.namaccountants.com/contact-us.html

 

Benefits of company Formation in Dubai Silicon Oasis

Dubai Silicon Oasis (DSO)

Dubai stands at the crossroads of the East and the West, both geographically and culturally.
In little over two decades, Dubai has metamorphosed into a business behemoth, rivalling the top cities in the world. From being a dusty old town with a local trading community, today Dubai is an immensely attractive business destination for any company that wants to capture the rapidly expanding markets of the Middle East, Asia and Africa. Dubai is a city that inspires every other city and nation to strive to reach the heady heights which Dubai has scaled.
Dubai’s strategic geographical location makes it the ideal gateway between the East and West opening the door for businesses to target more than 2 billion people. It also is the hub for the region’s import and export industry, one of the most profitable markets the world over.
With the winning combination of increased foreign ownership, relaxed immigration formalities, excellent communication and infrastructural networks, and the relative ease in starting up a business, Dubai provides an ideal climate for operating a successful business.

Dubai Silicon Oasis Authority (DSOA) is a government-owned free zone and a technology park with revolutionary ideals situated in strategic location in Dubai. This elegant economic free zone in Dubai values highly efficient technology based industries and focuses on becoming one of the world’s leading centers of advanced innovation, design and development in the field of electronics. Dubai Silicon Oasis (DSO) offers you an integrated community environment where, along with your profession, you are entitled to the benefits of residential facilities, schools, shopping centers and many more leisure opportunities. A state-of-the-art utility infrastructure combined with advanced telecommunication facilities, electricity, and road networks makes us stand apart and ahead of our competitors. The companies operating within the free zone are guaranteed the all-round package of incentives and benefits.

 

Advantages of DSO

  • Strategic location in Dubai
  • Online support to register the company
  • 100% ownership
  • Personal income tax 0%
  • Corporate tax 0%
  • 100% repatriation of capital
  • No import or export tax
  • Low cost of operation
  • Free document assessment service
  • Stringent Intellectual Property (IP) law and support
  • Subsidized Electronic Design Automation (EDA) tools
  • Subsidized lease rates for high-tech companies
  • State of art IT infrastructure and affordable offices in the UAE
  • On-site IT support
  • Microelectronics lab
  • Business friendly one-stop-shop
  • Plug and play office space
  • Highly secured and state-of-the-art data center

Additional services in Silicon Oasis free zone.

  1. Careful documentation for a technology based company
  2. Preparation of necessary plans to prepare
  3. Airport transfers
  4. Document due diligence
  5. Formation of the company
  6. Private services
  7. Post formation services
  8. Visa services
  9. Company management services
  10. Company bank account opening
  11. Online payment for visa and company
  12. Installments plans for investors
  13. Special power of attorney

  Need of a Business Consultants   

Speak to a professional business setup consultant in Dubai before you set up a company in Dubai. While starting a business in Dubai you need to make some major decisions. This involves business plan, monetary investments, type of business activity, jurisdiction, financial policies, income structure, business licensing, documentation and the list goes on. Talking to an expert before starting a business can always be a wise decision.

Nam Accountants could be your first choice if you r looking to open a new business in Dubai,UAE .Or want to expend your business in Dubai. Entrepreneurs often find themselves in unfamiliar territory when starting a business and lack the knowledge ,time and expertise to develop reliable plans,appropriate business model and strategies to grow their business . So save your time and energy and give us chance to give you unlimited comfort to your business.

For more details visit : Company Formation in Dubai Silicon Oasis 

Company Formation in Dubai Silicon Oasis

Company Formation in Dubai Silicon Oasis

Dubai has long caught attention due to its favorable conditions for entrepreneurs looking to make it big. Each of the UAE’s free zones also offers a set of distinct advantages that differ from one to the next. For company formation in Dubai Silicon Oasis Free Zone (DSOA) which, along with the headline benefits listed above, also affords business owners a host of support services and an affordable, fast and straightforward setup process. 

Business Setup in Dubai Silicon Oasis: This free zone is heart of Dubai when you want to the best markets of the Middle East, North Africa, Asia and the Indian subcontinent.

  1. Convenient set up :A major factor behind its popularity is convenient setup service. The free zone offers fast-track business licensing with the entire application process taking no more than seven days – license and lease agreements are usually issued within just two days of submitting your legal documents and payment. Licenses start from just AED 18,700.
  2. Many options for doing business and license: It describes itself as helping to ‘facilitate and promote modern technology based industries. DSOA issues service, trade and industrial licenses to companies from all Department of Economic Development (DED) listed industries, plus IT.
  3. Flexible setup and office options :While taking some form of office or desk space is a mandatory requirement, Dubai Silicon Oasis offers a broad range of setup options so you won’t feel tied down. Flexi-desk package allows entrepreneurs use of its state-of-the art business facilities on an ad-hoc basis and it can come with a maximum of three visas.

 

  1. Sufficient visa options :They allow three visas and taking office or warehouse space enables you to set up with multiple visas. The only caveat being the more visas you wish to apply for, the more space you’ll be required to take.
  2. Sponsor dependents for their visas: As well as applying for plenty of visas for your employees, it’s also very straightforward to sponsor your dependents for their visa applications as well. Whether you require a visa for a spouse, child, maid or driver, the process is four straightforward stages. Keep in mind, however, that the sponsoring process is usually slightly easier for men than women.
  3. Set up with multiple shareholders: Setting up a free zone establishment in DSOA allows you to go it alone and maintain sole control of your business. If, however, you wish to set up with a partner – or partners – you also have that option. For that, Dubai Silicon Oasis allows you to establish a free zone company with anywhere between two and five shareholders.
  4. Auditing and book keeping requirements: These requirements make it one of the most respected free zones among banks and other professional institutions. However, while auditing and bookkeeping is mandatory, that’s not to say it’s excessive. All businesses registered in the free zone must simply submit yearly books and undergo an annual audit.

There are a number of steps that need to be undertaken, some complex, some less so. The first thing to do is choose your business activity. From here you can decide on your company name, complete and file your registration paperwork with the relevant authorities, open a bank account, and apply for any visas that may be required.

For more details visit : http://www.namaccountants.com/free-zone-company-formation/dubai-free-zone/dubai-silicon-oasis.html

 

 

Tourists to get refund on VAT from November

All non-UAE residents above 18 years old will be eligible for tax-free shopping.

The UAE looks set to put an up-to-date system in place for VAT refund to millions of tourists from November. The VAT refund system will be initially available at Abu Dhabi, Dubai and Sharjah airports and by year-end, it will be extended to 12 exit points, including the land borders and ports, it is learnt.

Federal Tax Authority (FTA) and Tourist Refund Scheme operator Planet have issued guidelines setting a minimum limit of Dh250 to claim VAT refund.

Planet said all non-UAE residents above 18 years old will be eligible for tax-free shopping. According to its website, tourists will be able to validate their tax-free forms at Dubai International, Abu Dhabi and Sharjah airports until December 16 whereafter the system will be in place at nine more locations – Al Maktoum airport, Abu Dhabi Port Zayed, Al Ain Airport, Al Ain land border, Fujairah Airport, Ras Al Khaimah Airport, Al Ghuwaifat land border, Hatta land border and Dubai Mina Rashid Harbour.

The operator further said tourists could be asked to present their goods to confirm they are unused. It said only the owner of the passport under which the tax free forms are registered will be entitled to collect the refund.

Anurag Chaturvedi, managing partner, Chartered House, tourists will receive 85 per cent of the total VAT amount after deduction of an administration fee of Dh4.80 per tax-free form.

Citing an example, he said if a tourist buys electronic goods worth Dh210 from a store and spend another Dh315 on buying souvenirs from another store, he can claim tax refund of Dh15 on purchases of Dh315 and not against electronics purchase of Dh210 as it’s below the minimum spend limit set by the authority.

“If the tourist spend Dh315 in the UAE, he/she will get refund of Dh7.95,” he said.

Thais Cunha, associate, Aurifer Middle East Tax, said tourists will be able to receive VAT refund for their purchases made from registered retailers.

“Retailer will charge VAT and also ensure that the customer has all the appropriate documentation to reclaim it,” Cunha said.

According to Planet, the tourists’ tax free tag needs to be validated within 90 days of the purchase. If receipts are not validated within 90 days, the tax free tag expires and VAT cannot be claimed.

An invitation sent out last week to retailers and tax consultancies across the UAE by the FTA and the Dubai Chamber of Commerce and Industry to brief them about how to register for the tourist refund scheme revealed that Tourist Refund Scheme will be rolled out in November 2018.

“Tourist can take goods and tagged receipt to the airport, seaport or border crossing. He will be required to visit Planet’s validation point (through self-service kiosks) to validate the invoice. Once validated, the tourist will choose a refund method – cash or credit card,” Chaturvedi said.

Joy Alukkas, chairman and managing director, Joyalukkas Group, also welcomed the step, saying Dubai is known as the City of Gold and this means the best quality and designs at the best possible prices.

VAT refund will help Dubai maintain its position with tourists since one of the biggest shopping attractions for them in Dubai is gold and jewellery. We warmly welcome this strategic step and are sure it will have a very positive impact for both the industry and the tourists visiting UAE,” Alukkas added.

Deepak Babani, executive vice-chairman of Eros Group, welcomed this initiative by the FTA, saying it’s a very a simple and friendly procedure for the tourists.

“It is a very positive step and procedures are simple. We were wondering about how much deduction will be for the tourists refund, but we’re happy that it’s just 15 per cent. It should definitely improve sales locally,” Babani said.

Anil Dhanak, managing director, Kanz Jewels, said tourists VAT refund will essentially put Dubai’s grip on the title ‘City of Gold’ firmly in place.

” Five per cent increase on the finished gold products had dampened demand for jewellery but we expect the tourists who come to buy gold in Dubai now will find a significant price difference between their home country and here as it had been previously,” Dhanak added.

According to a Dubai Chamber of Commerce and Industry study, tourist spending in the UAE is projected to increase from Dh154 billion in 2017 to Dh205.5 billion by 2022. In Dubai alone, a study by Mastercard had estimated visitor spending at Dh104.6 billion last year, a growth of 10 per cent. According to the annual Mastercard Destination Cities Index, Dubai outpaced all other cities in visitors’ spending in 2016.

UAE, along with Saudi Arabia, levied five per cent VAT on a host of goods and services from January 1, 2018. Bahrain and other GCC countries will implement VAT as part of GCC framework in 2018-2019.

For more Details visit :   Vat Consultants Dubai

 

Seed Group, WTS Dhruva sign partnership deal

The decision is aimed at supporting UAE businesses in achieving VAT compliance

Seed Group has announced a partnership agreement with a registered VAT and tax advisory firm WTS Dhruva.

The group, a conglomerate of companies, owned and operated by the Private Office of Sheikh Saeed bin Ahmed Al Maktoum, said the decision is aimed at supporting UAE businesses in achieving their VAT compliance, avoiding any risks of errors at any point of the VAT filing process and beyond, as well as offering VAT advisory services and solutions through a customised automated reporting VAT digital compliance tool designed for the GCC.

“Over the last year, WTS Dhruva worked with multinational clients and regulators on challenging tax environments, policies issuance and infrastructures. The firm will have a positive role by supporting businesses come to grips with tax issues,” Hisham Al Gurg, CEO of the Private Office of Sheikh Saeed bin Ahmed Al Maktoum and Seed Group said.

The senior management of the Private Office and Dhruva believe that existence of a specialised tax-focused boutique organisation will change the dynamics of the tax consultancy and compliance support for businesses in the region.

Dinesh Kanabar, CEO and founder of WTS Dhruva, said: “With nearly 300,000 VAT registered companies across the UAE, it is critical that these businesses receive holistic VAT advice.”

Pratik Shah, resident partner and VAT expert, said VAT impacts every aspect of a business from finance, human resources, IT and systems through sales to marketing as the tax is levied at every stage of the supply chain.

“VAT also provides an opportunity for an organisation to redesign certain aspects of the business to mitigate tax exposure at the same time being compliant under the law,” he said.

For more Details visit : http://www.namaccountants.com/vat-consultants-in-uae.html

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Contact us : http://www.namaccountants.com/contact-us.html

FTA to hold tax clinics to promote compliance

The campaign kicks off on August 12 in Ras Al Khaimah

 

 

Ras Al Khaimah: The Federal tax Authority (FTA) has officially launched phase one of its “tax Clinic” initiative, which seeks to maintain direct and constant communication with taxable businesses.

For three months, the campaign will cover all seven emirates to raise tax awareness across the country, urging taxable businesses to register with the Authority and promoting compliance with tax Return requirements and the timely payment of due taxes. Phase one will take place in Ras Al Khaimah over the course of three days – from 7:30 am to 2:30 pm – until August 14, 2018, at the headquarters of Ras Al Khaimah’s Department of Economic Development (RAK-DED) and Ras Al Khaimah Economic Zone (RAKEZ).

 A press statement issued on Monday explained that the “tax Clinic” campaign will be organised as a collaboration between the Federal tax Authority and the departments of economic development and municipalities in all emirates.

 Two teams of analysts and specialists from the FTA’s Registration, tax Returns and taxpayers Services will go on an extensive tour, which includes several meetings and an interactive seminar in each individual emirate, with taxable businesses that have not yet registered in the tax system or that have fallen behind on submitting their tax Returns and settling their due taxes – particularly, small and medium enterprises (SMEs).

The sessions introduced attendees to the procedures, reassuring them that registration for taxes, submitting tax Returns and paying due taxes can all be completed – by the taxpayer or an authorised tax Agent – easily and in a matter of minutes through the e-Services portal on the FTA’s official website.

The Authority noted that the team of specialists will answer questions from business owners to identify and address the reasons that prevented these businesses from registering and submitting tax Returns, in addition to resolving any technical issues they may have faced while using the Authority’s digital portals.

The FTA explained that these meetings are organised in coordination with the departments of economic development and municipalities, who invited taxable businesses to attend and participate in the “tax Clinic”, held at the Customer Service Centres of each emirate’s department of economic development and other relevant authorities.

 The FTA pointed out that in order to expand the scope of beneficiaries of these seminars, the Authority broadcast the meetings live via social media channels.

 The Federal tax Authority called on businesses to attend the “tax Clinic” and benefit from the opportunity to ask any questions they may have, reiterating its commitment to coordinating with the relevant federal and local entities to implement the tax system and boost cooperation. This, in turn, serves to increase awareness among all stakeholders, maintain the utmost transparency and accuracy of information, and effectively address public enquiries to promote compliance with tax laws and prevent violations.

The Authority is intensifying its coordination meetings and awareness programmes to spread knowledge of the principles of the tax system, its executive and supervisory mechanisms, and its implementation, in addition to shedding light on the facilities and services that it provides to help taxpayers easily comply with tax regulations with minimum to no impact on their activities.

For more details visit : http://www.namaccountants.com/vat-consultants-in-uae.html

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Contact us : http://www.namaccountants.com/contact-us.html