VAT, Corporate Tax & Excise Tax

The United Arab Emirates is a federation comprising seven emirates, each with its own federal and local governments. Traditionally, the UAE has maintained a low-tax environment. At present, the federal government levies a value-added tax (VAT), corporate tax, and excise tax.

Value Added Tax 

Businesses in UAE, that provides taxable supplies, are compulsorily required to register for VAT if their annual turnover in the last 12 months is more than AED 375,000 or expected to increase in the next 30 days. For companies with an annual turnover between AED 187,500 and AED 375,000 VAT registration is voluntary. Companies need VAT registration to get a Tax Registration Number (TRN).  

Maven Hawk provides all services related to VAT like   

• VAT Registration
• VAT advisory
• VAT compliance
• VAT refund
• VAT reconciliation
• VAT De-registration

Corporate Tax 

According to UAE Decree law number 47 of 2022 businesses in UAE are required to register for Corporate Tax effective 01st June, 2023. We help you register, manage and effectively plan your Corporate tax compliance. As part of Corporate tax compliance we support clients to 

• Manage Books of accounts
• Making Books of accounts IFRS compliant
• Tax Planning

Excise Tax 

Excise tax was introduced across the UAE in 2017. Excise tax is a form of indirect tax levied on specific goods which are typically harmful to human health or the environment. These goods are referred to as “excise goods”.   

As part of excise tax compliance, we support clients to 

• Excise Tax Registration

Any business which imports, produces or stockpiles excise goods, or releases them from a designated zone in the UAE, should register for Excise Tax. 

• Filing Returns And Payment

Once you have registered for Excise Tax, you are required to file your Excise Tax return by the 15th day following the end of each tax period