Up To AED 20,000 Penalties For Breaking New UAE Tax Laws
As of June 2023, the UAE introduced a new tax regime for businesses and as of January 1, 2024 companies must maintain accurate accounting records and file tax returns year on year.
Fines of up to AED20k are applicable to those who avoid the new regulations and the following information will help you learn how to become tax-compliant in the UAE.
Grab your pen and paper ’cause here are all the steps it takes for a business to become tax compliant in the UAE
- Register for corporate tax
- Keep proper accounting records
- File tax returns
It is important to note that these steps are applicable to all businesses, even those who don’t have to pay tax or don’t make any revenue.
For all the information, click here.
Take advantage of tax packages and accounting services available to UAE companies
Virtuzone, leading UAE company formation specialists, ensures 100% compliance with their new monthly payment tax offer, providing you with the option to save 20% when you pay upfront. Choose from the flexibility of monthly payments starting from AED249 per month, and entrust your tax and accounting services to FTA-approved experts. Additionally, their comprehensive package includes a dedicated accountant, top-quality accounting software, corporate tax registration, and filing – all at a fraction of the cost of hiring a full-time accountant.
Take advantage of their limited-time offer and enjoy a 20% discount if you choose to pay upfront, available until the end of February.
Book a FREE tax consultation and check out their accounting & tax packages here.