International Taxation Advisory Service in Dubai, UAE
International Taxation UAE
Emirates Chartered Accountants Group - International Taxation Advisory Services in Dubai, UAE.
Call for Consultation
CA Manu Palerichal I CEO & Partner
Mob: +971 502828727
Email: manu@emiratesca.com
Economic Substance Regulation [ESR]
Economic Substance Regulation is another compliance requirement for entities registered in the UAE. The United Arab Emirates (UAE) Ministry initially enacted Cabinet
Tax Residency | Tax Domicile Certificate
Tax Residency Certificate (TRC) also known as Tax Domicile Certificate is an official document issued by the Tax Authorities in the UAE.
Ultimate Beneficial Owner [UBO]
The necessity of identification of Ultimate Beneficial Owner has gained momentum across the globe with an increased International focus on tax transparency
Why is International Taxation is gaining importance now in the UAE?
UAE, a most rapidly growing business hub, is the gateway between the Asia Pacific and Europe for cross-border transactions. Hence International Tax Planning is a very important matter for most of the businesses operating in this region.
To improve international competitiveness, the UAE started shifting towards a taxation economy that encourages transparency and improves economic diversification. The UAE introduced Excise Tax in the year 2017 and Value Added Tax (VAT) in 2018. Subsequently, there are many developments with respect to improving international tax compliance in the country which are commendable and necessary.
The UAE has given a green signal to the internationally agreed standards on exchange of information for tax purposes both “EOIR” (Exchange of Information on Request (‘EOIR’) and Automatic Exchange of Information (from OECD)
The UAE is largely compliant with the requirements of CRS (Common Reporting Standards) as well as FATCA to improve international tax compliance and international tax reporting.
The United Arab Emirates joined the Inclusive Framework of BEPS (“ Base Erosion and Profit Shifting ”) on 16th May 2018 and became the 116th jurisdiction on the list. Hence the UAE is committed to implementing BEPS 4 minimum standards. In the year 2019, UAE implemented the following two regulations;
- Economic Substance Regulation through the Cabinet Resolution no 31 of 2019. [Economic Substance Regulation is a part of Action 5 of the Base Erosion and Profit Shifting]
- Country by Country Reporting - CbCR legislation through the Cabinet Resolution no 32 of 2019. [CbCR is a part of Action 13 of the Base Erosion and Profit Shifting (BEPS)]
Now the United Arab Emirates is committed to the relevant overseas authorities to report within the timelines.
Our international tax services in UAE include,
- Corporate Tax – International level Advisory Service
- International tax planning for entities
- Initiating new business
- Expanding business into a new jurisdiction
- Analyzing special Cross border transactions
- Global capital structure planning, including efficient cross-border finance, repatriation of funds, and cash access planning
- Analysis withholding tax implications in each jurisdiction considering the Double Tax Avoidance Agreement in force
- Transfer pricing Compliances
- Guidance and Support for Compliance related to International Tax Reporting
- Global Tax Compliance Management
- Advisory Service on Tax for Expatriates
- Personal Tax Advisory Service
How we can help you with International Taxation?
At Emirates Chartered Accountants Group, we have a team of expert tax professionals and consultants who are experienced in various tax regimes in the UAE as well as GCC. There is a separate wing for handling International Tax matters within the Tax division of Emirates Chartered Accountants Group. Tax experts in IECnet member firms in several countries work together on cases we handle which ensure that the transactions are handled in the most tax-efficient manner that all laws are complied with.
It helps you to avoid pitfalls in the decision-making process and safeguards the probable tax risks. You can avail tax opportunities through our guidance on multiple tax regulations.
We address your concerns with an international mindset. We helped many businesses in their worldwide expansion for the implementation of tax structures across the Middle East, Africa, Asia, and Europe.
