Wael ElGendy

Curious about the tax implications for businesses in Dubai? 🤔 Understanding the variances between mainland operations and free zones is crucial. In the mainland, businesses encounter a 5% VAT and a 9% Corporate Tax, affecting those with profits surpassing AED 375,000 (USD 100,000). Notably, there is no income tax for mainland businesses. 🏙️💼 Conversely, free zones offer substantial tax benefits 🌟 with perks like 100% exemptions from corporate tax, customs duty, VAT, and income tax. Moreover, they facilitate the repatriation of capital and profits. 🌐💰 #DubaiBusiness #TaxImplications #FreeZoneAdvantages #MainlandVsFreeZone

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𝐖𝐡𝐞𝐧 𝐦𝐲 𝐛𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐫𝐞𝐪𝐮𝐢𝐫𝐞𝐝 𝐭𝐨 𝐟𝐢𝐥𝐞 𝐕𝐀𝐓 𝐫𝐞𝐭𝐮𝐫𝐧? If your business falls under the taxable businesses in the UAE, Then, You would've to file your VAT RETURNS with FTA on regular basis. You would've to file your returns within 28 days when your tax period ends. 𝐍𝐨𝐭𝐞: 𝑻𝒂𝒙 𝑷𝒆𝒓𝒊𝒐𝒅 𝒊𝒔 𝒑𝒓𝒆𝒅𝒆𝒇𝒊𝒏𝒆𝒅 𝒇𝒐𝒓 𝒆𝒂𝒄𝒉 𝒕𝒚𝒑𝒆 𝒐𝒇 𝒃𝒖𝒔𝒊𝒏𝒆𝒔𝒔. The standard tax period would be as; - 𝑸𝒖𝒂𝒓𝒕𝒆𝒓𝒍𝒚 𝒇𝒐𝒓 𝒃𝒖𝒔𝒊𝒏𝒆𝒔𝒔𝒆𝒔 𝒘𝒊𝒕𝒉 𝒂𝒏 𝒂𝒏𝒏𝒖𝒂𝒍 𝒕𝒖𝒓𝒏𝒐𝒗𝒆𝒓 𝒃𝒆𝒍𝒐𝒘 𝑨𝑬𝑫150 𝒎𝒊𝒍𝒍𝒊𝒐𝒏. - 𝑴𝒐𝒏𝒕𝒉𝒍𝒚 𝒇𝒐𝒓 𝒃𝒖𝒔𝒊𝒏𝒆𝒔𝒔𝒆𝒔 𝒘𝒊𝒕𝒉 𝒂𝒏 𝒂𝒏𝒏𝒖𝒂𝒍 𝒕𝒖𝒓𝒏𝒐𝒗𝒆𝒓 𝒐𝒇 𝑨𝑬𝑫150 𝒎𝒊𝒍𝒍𝒊𝒐𝒏 𝒐𝒓 𝒎𝒐𝒓𝒆. However, the FTA may assign a different tax period for certain type of businesses. So, what if you fail to file your tax return within the specific time frame? You will fined for being found violating TAX LAWS in the UAE. A massive penalty of AED1,000 will be imposed on first violation. But, if you repeat it, your business would have to pay a penalty of AED2,000 (if you repeat within 24 months prior to first offense). Filing VAT returns in time will increase your credibility and transparency. 𝐏.𝐒. 𝐃𝐨𝐧'𝐭 𝐟𝐚𝐜𝐞 𝐭𝐚𝐱 𝐟𝐢𝐧𝐞𝐬 𝐚𝐧𝐝 𝐩𝐞𝐧𝐚𝐥𝐭𝐢𝐞𝐬 𝐚𝐧𝐲𝐦𝐨𝐫𝐞. 𝐏.𝐏.𝐒. 𝐋𝐞𝐭'𝐬 𝐦𝐚𝐤𝐞 𝐲𝐨𝐮𝐫 𝐛𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐜𝐨𝐦𝐩𝐥𝐢𝐚𝐧𝐭 𝐚𝐧𝐝 𝐭𝐫𝐚𝐧𝐬𝐩𝐚𝐫𝐞𝐧𝐭 𝐍𝐨𝐰! #vatreturnfiling #uaevatreturn #vatreturn

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Optimize your corporate tax strategy with expert planning. Unlock savings and drive growth with Khalid Alhassawi Auditing. #kaauditing #BusinessSetup #DubaiOpportunities #TaxStrategy #accountingandbookkeepingservices #businesssetup #dubai #uae #business #uaebusiness #businesssetupindubai #dubaibusiness

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The Zakat, Tax, and Customs Authority has announced the eligibility criteria for businesses to enter the "linking and integration" phase of electronic invoicing. If your establishment's VAT revenues exceeded 15 million riyals in 2022 or 2023, you are required to integrate your billing systems with the Fatora system by November 1, 2024. This phase is a crucial step in Saudi Arabia's economic and digital development, building on the success of the initial electronic invoicing rollout in December 2021. Learn more: https://lnkd.in/djZcUUeq #sni #snitechnology #taxnews #ksanews

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Join our webinar that will showcase how to register for Corporate Tax on EmaraTax through the link: https://lnkd.in/dDUFfEE3 #FTA #UAETAX #UAE

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Attention UAE Businesses! - UAE Corporate Tax Registration Deadline Announced! 📢 Ensure compliance with UAE corporate tax regulations by registering your company before the upcoming deadlines! Save yourself last-minute headaches and ensure your business is registered on time. To get your business registered for Corporate Tax, contact us now anup@alastrya.ae #uae #Corporatetax Alastrya

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The FTA provides you with a set of guides, clarifications and references that will help you understand your tax obligations related to ESR. To download our Economic Substance Regulation Guide, visit tax.gov.ae #FTA #Taxes #TaxesinUAE #UAETax

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BMS Auditing does a thorough VAT Health Check in KSA to comply with all tax regulations, avoid VAT fines and penalties in Saudi Arabia and imply other VAT services. Before introducing VAT into your business, you must be aware of the impacts it makes and how VAT health check helps you evade all the negative impacts. So, let's get into the article. #VAT #TaxCompliance #SaudiArabia #vathealthcheck #KSA #BMSAuditing

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Get expert accounting services at an affordable price! Let us help you with your finances today! #IFRS #Bookkeeping #Finance #Tax #UAE #VAT #Business

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Attention UAE Businesses! 🚨 Corporate Tax Registration Deadline is approaching. Avoid penalties and ensure compliance. Get expert guidance now. 𝐅𝐞𝐞𝐥 𝐅𝐫𝐞𝐞 𝐓𝐨 𝐂𝐨𝐧𝐭𝐚𝐜𝐭 𝐔𝐬: 📱 +971 52 409 3924 📧 info@futuredream.ae 🌐https://futuredream.ae/ #futuredreamuae #uae #corporatetax #taxregistration #deadline #business #finance #compliance

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Exploring the nuances between setting up your business in a Free Zone versus the Mainland of Dubai? Here’s a detailed breakdown to help you make the right choice: 🌟 Free Zone Benefits: 100% Foreign Ownership: You retain full control without the need for a local partner. Tax Exemptions: Enjoy the perks of corporate tax and import/export duty exemptions. Simplified Setup: Experience a streamlined company formation process, saving you time and effort. Repatriation of Profits: Easily repatriate your profits and capital with no restrictions. Sector-Specific Support: Free zones are tailored to support specific industries with specialized infrastructure and regulations. No Currency Restrictions: Enjoy flexibility in dealing with various currencies for international transactions. Dedicated Facilities: Access top-notch facilities and business centers designed to meet your needs.                                       🏙 Mainland Benefits: Wider Market Access: Trade directly with the UAE market without restrictions, expanding your customer base. No Geographic Limitations: Operate anywhere within the UAE, offering flexibility in business operations. Government Contracts: Gain eligibility to bid on lucrative government contracts, opening up new revenue streams. Branch Expansion: Easily open multiple branches across the UAE, scaling your business effectively. Flexible Business Activities: Engage in a wide range of business activities without limitations, adapting to market demands. Prime Office Locations: Choose from a variety of prime office locations outside free zones, enhancing your business image. Local Business Partnerships: Explore strategic partnerships with local businesses for mutual growth and opportunities. Each option has its unique advantages tailored to different business needs. Let M-Power Businessmen Services guide you through the intricacies to ensure your business thrives in the dynamic landscape of Dubai. #m_powerbusinessuae #FreeZoneVsMainland #DubaiBusiness #MPowerInsights #MPowerBusinessmenServices

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