Tax Accounting Services in UAE
Accounting plays a very important role for any organization, be it a start-up or a well-established business entity. The reach of accounting in setting up a business has been leveraged extensively and because of this many sub-categories have been discovered under accounting. One such category is tax accounting. The term ‘tax accounting’ refers to accounting done for taxation purpose that specifies the guidelines that are to be followed by an individual or an organization while filing a tax return. It is dedicated to preparation, analysis, and presentation of tax returns and tax payments and is also known as cash-based accounting. Tax laws vary from country to country.
What are Tax Accounting Services in Dubai?
Tax accounting services in Dubai help with the process of preparing and filing tax returns and other documents related to taxes. This includes calculating the amount of tax a business or individual owes, keeping track of tax payments and receipts, and ensuring compliance with tax laws and regulations in Dubai.
These services help prepare and file tax returns for various types of taxes, including value-added tax (VAT), and corporate tax. It may also involve preparing and submitting tax documents related to selling goods or services, purchasing goods or services, and transferring assets.
Importance of Tax Accounting
Even a minor fault could result in a heavy business loss with tax accounting. Tax accounting is dedicated to the essential tax domain for individuals and any business. Now, let’s understand the importance of availing tax accounting services in Dubai and the reason behind its tremendous growth:
- International Taxation
- Economic taxation
- Transfer pricing
- Complete control over budgets
- Provides an accurate picture of profit and loss
- Enables faster decision making
JAXA’s Tax Accounting Services in Dubai
- Developing tax validation projects
- Preparing balance sheets based on tax to give a clear picture
- Drafting income tax and reporting documents
- Keeping a check on the current accounting laws for any changes and applying the same
- Dealing with the merger & acquisition process
- Understanding and dealing with tax risk
Why opt for JAXA’s Tax Accounting Services in Dubai?
JAXA, since its inception, has been dealing with the financial front of various businesses. Sorting tax issues is one of the core domains of the firm. Our team of offers prepares tailor-made solutions that suit the business entity based on the nature of the business it is involved in. On-time delivery of solutions and projects is another essential feature that we strictly follow. We have a wide range of satisfied clients globally dealing with different businesses. To become a part of our network, do contact us. We would be happy to assist you and deal with the tax structure of your business.
What We Provide
- We ensure that all the records are compliant with the International Financial Reporting Standards (IFRS)
- We are registered and approved auditors in major free zones in Dubai, making it easy to conduct audits in the free zone.
- JAXA has over 15 years of experience and a knowledgeable team of 75+ employees.
- Over a decade of quality service has made us one of Dubai’s most preferred auditing and accounting firms.
Avail best quality Auditing and Accounting services from JAXA
The expert will help to tackle business issues by following proper Accounting and Auditing guidelines will also assist you to scale up your business. JAXA also provides various other services such as Tax Services, Payroll Services, Cash flow forecasting and many more.
FAQs
On which businesses does VAT apply?
VAT applies equally on tax-registered businesses managed on the UAE mainland and in the free zones. However, the UAE Cabinet defines certain free zones as ‘designated zones’, which are treated outside of the UAE for tax purposes. The transfer of goods between designated zones is tax-free.
Who is required to register for VAT?
VAT is:
- Mandatory for businesses having their value of taxable supply of goods or services or imports over AED 375,000
- Optional for businesses having their value of taxable supply of goods or services or taxable expenses between AED 187,500 and AED 375,000
What is transfer pricing?
Transfer pricing refers to the price charged upon the transfer of physical goods between businesses located under the same or different tax jurisdiction.
How many types of accounting are there in the accounting domain?
There exist 8 different types of accounting under the accounting domain:
- Financial Accounting
- Managerial Accounting
- Cost Accounting
- Auditing
- Tax Accounting
- Accounting Information Systems
- Fiduciary Accounting
- Forensic Accounting