Tax Consultants & Advisors in Dubai, UAE

Our Core Services in UAE Tax Consulting

we are experts in financial & corporate services

We have years of expertise of providing financial and corporate services. We provide consultation for services related to Excise, VAT also. We have established ourselves as one of the leading tax advisors in Dubai, UAE. Tax consulting firms in UAE maybe many but we assure you complete undivided attention and dedication relating to your taxes.

We just don’t simply say that we are one of the experienced Dubai tax consultants but through a hands-on approach, Horizon Biz Consultancy undertake 100% check of your business transactions and then work for easy operations of your taxes and accounting.

 

VAT Consultation

With our expertise to interpret and implement VAT, we provide end to end VAT consultation along with hand-holding services to support the business organization for easy operation of a business.

360 Degree VAT Health Check

Through a hands-on approach, Horizon Biz Consultancy – Tax Consultant in Dubai undertake 100% check of business transactions and reviews of the current practices, processes, through VAT Tax view point before filing of VAT Return or as per the time frame decided.

Tax in Dubai

The UAE Government does not levy any income tax on individuals. However, it levies following tax-

  • Corporate tax on oil companies and foreign banks.
  • Excise tax is levied on specific goods which are typically harmful to human health or the environment.
  • Value Added Tax is levied on a majority of goods and services.

Excise Tax

It was introduced in 2017 by UAE Government. Excise is an indirect tax levied on specific goods which are typically harmful to human health or the environment. These goods are referred to as “excise goods”. Excise tax is levied on carbonated drinks, tobacco products and energy drinks in 2017 and later it was charged on e-cigarettes, e-liquids and several energy drinks and sweetened drinks from December 1, 2019.

VAT Tax

Value Added Tax (VAT) is a tax levied on the consumption or use of goods and services at each point of sale. It is an indirect tax and was introduced by the UAE Government on January 1, 2018. VAT-registered businesses collect the amount on behalf of the government; consumers bear the VAT in the form of a 5 per cent increase in the cost of taxable goods and services they purchase in the UAE.

VAT is implemented to help the Government reducing dependence on crude and to contribute to continuous provisions of high quality public services such as school/ healthcare/ infrastructure.

What is 360 Degree VAT Check?

VAT Tax is implemented in UAE just less then a year ago. Lack of understanding has created chaos amongst business enterprises. Poor Interpretations of VAT Law & Non-compliance leads to false preparation of accounting records. The above reasons lead to filing of VAT Return with false details which attracts hefty penalties. The credit cycle has created burden on enterprises to pay VAT from their own pocket which negatively impacts the cash-flows.

To address above problems we provide:

  • 360 Degree 100% Check for all business transactions.
  • Cross checking of all day to day compliance’s of VAT (i.e. invoice, book keeping problems)
  • Calculation and cross checking of periodical VAT Liability.
  • Accounting of Reverse charge mechanism on import of Goods & Services.
  • Accounting input credit on services & goods used for business purpose.
  • Addressing VAT issues related to specific sector.

Also check: VAT Clearance Certificate

Did You Know ?

Basics of VAT and Why is it implemented?

VAT is consumption based Tax levied on goods and services at the point of supply and in not intended to be a tax on business. VAT is implemented to help governmnet reducing dependence on crude and to contribute to continuous provisions of high quality public services such as school/ healthcare/ infrastructure.

whatsapp icon
Quick Contact