Uncategorized Archives - ACE Tax Consultant

Is the POS System Compliant with UAE VAT Tax Regulations?

A Point of Sale (POS) system compliant with UAE VAT Tax regulations is an essential tool for businesses operating in the United Arab Emirates. Since the introduction of Value Added Tax (VAT) at a rate of 5% in 2018, businesses in the UAE are required to accurately collect and report VAT on eligible transactions. A VAT-compliant POS […]

Building the VAT Tax House in the GCC region – A Complete Overview

The VAT Tax House in the Gulf Cooperation Council (GCC) region symbolizes a significant fiscal transformation that has swept across the Arabian Peninsula. The Value Added Tax marked a pivotal shift in the region’s economic landscape. As a collaborative effort among GCC member states, including Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates, this […]

VAT in UAE: Explaining the Zero-rated and Exempt Supplies

The Value Added Tax (VAT) in the United Arab Emirates (UAE) is a consumption tax imposed on the value added to goods and services at each stage of production or distribution. Introduced on January 1, 2018, VAT in UAE is a relatively recent fiscal policy administered by the Federal Tax Authority (FTA) and is levied […]

10 Things You Must Know About VAT Tax in UAE

In the past few years, the United Arab Emirates has witnessed a transformative shift in Taxation laws and policies, and the introduction of VAT Tax is one of them. With the implementation of 5% VAT in the UAE region, registered businesses and traders in all taxable services and goods are liable to pay Value Added […]

The UAE Implements VAT Taxation in 2023 Global Stage

The United Arab Emirates (in short UAE) has implemented a 5% Value Added Tax in certain goods and taxable services, marking a significant shift in its fiscal policies. One would say that the introduction of VAT Taxation was a strategic move by the UAE government to diversify its sources of revenue beyond oil and reduce […]

EU VAT Tax Management – A Complete 2023 Guide

Value Added Tax (VAT) is an in demand consumption tax levied on the value added at each stage of the production and distribution process. In the European Union (EU), VAT is a fundamental component of the taxation system and is governed by a set of harmonized rules across member states. Talking about the EU VAT […]

A Complete Guide to Corporate Tax on Mainland and Free Zones in UAE

People who are considering starting a business in the landscape of the United Arab Emirates find it difficult to summarize where to set up a company. A majority of times they are confused between the Mainland and free zones area due to recently introduced Corporate Tax in UAE wide. For those who don’t know, corporation […]

What is the Classification of Corporate Tax in UAE?

Corporate Tax classification in the United Arab Emirates (UAE) comprises a diverse landscape influenced by its federal structure and unique economic zones. At the federal level, the UAE historically did not impose a corporate income tax, instead relying on alternative revenue streams. However, in June 2023, the Ministry of Finance introduced corporate UAE taxes on […]

A Guide to Leading Corporate Tax Registration Services in UAE

Knowing to provide the best corporation tax services in the UAE, ACE Tax Consultants assures to regulate professional taxation and consultancy services to comply with the newly introduced UAE CT regime. Being a leading Corporate Tax Registration Service in Dubai, UAE, we facilitate seamless tax compliance for businesses and guide companies or individuals through the complex […]

UAE Corporate Tax Overview – A Complete 2023 Guide

Formerly, the UAE hasn’t imposed any taxes on the corporation’s profit except in a few handful of industries like foreign banks and resource extraction. However, by the beginning of June 2023, the United Arab Emirates government introduced a new UAE corporate tax for the country, which made businesses and individuals intrigued about this new taxation policy. As […]