VAT SERVICES by ALBAB BUSINESS SETUP SERVICE

Tax in the UAE: Everything you need to know about VAT and a little bit more.

REGISTRATION CRITIREA

A business must register for VAT if their taxable supplies and imports exceed the mandatory registration threshold of AED 375,000. Furthermore, a business may choose to register for VAT voluntarily if their supplies and imports are less than the mandatory registration threshold, but exceed the voluntary registration threshold of AED 187,500. Similarly, a business may register voluntarily if their expenses exceed the voluntary registration threshold. This latter opportunity to register voluntarily is designed to enable start-up businesses with no turnover to register for VAT.

VAT RETURN FILING PERIOD

The standard Vat return period is quarterly. However, the UAE FTA may consider monthly return periods for certain specific businesses to increase tax compliance and curb tax evasion by false means.

Return Filing Period

·         Quarterly Return

·         Monthly Return

VAT Return Filing Due Date Dubai

Registered Taxpayers must file their VAT Returns on or before the 28th of the subsequent month following the end of the tax period. For example, for the month of January 2018, the last date for filing VAT Returns will be 28th June 2018.

What is the Tax Procedures Law? Here are some key points:

- Take records: anyone conducting any business must keep accounting records and commercial books of their business.

- Penalties can and will be imposed: tax evasion, not paying tax or an unentitled refund of tax will be taken seriously. Expect a prison sentence and a monetary penalty not exceeding five times the amount of tax evaded.

Violations related to tax procedures

Federal Tax Authority (FTA) has approved the complete and final list of all the administrative VAT Fines and Penalties in UAE that will be imposed on businesses for violations of the VAT laws.Every VAT fine or penalty will be no less than AED 500

To be cont.….

WAGES PROTECTION SYSTEM, AND WHAT UAE LAW SAYS ABOUT SALARY DELAYS

A Referrence to the UAE's Wages Protection System based on official government data.

What is the WPS in the UAE?

As explained by Mohre’s Wages Protection System, WPS is an electronic salary transfer system that allows companies to pay workers their wages through banks, bureaux de change, and financial institutions that are approved and authorized to provide the service.

The WPS covers all institutions registered with the ministry across all sectors and industries, and will benefit different categories of labour. WPS helps employers safeguard their interests and reduce the time and effort taken to pay wages; and improves job security and strengthens working relationships.

Mohre is regularly and constantly updated on wages data in the private sector in order to guarantee that employers fulfil their salary obligations; and serves as a protective and proactive measure to reduce labour disputes pertaining to wages.

WPS UAE FINE

Similarly, late or unpaid salaries are also penalized under the stipulations that guide WPS. An employer is considered as being ‘late’ to pay wages if the salary is paid within 10 days from the due date – which makes it the next day of the end of the salary period – or if the salary is not paid within one month of the due date. Serious penalties apply on companies that are failing to pay salaries. Fines for companies that employ more than 100 workers, and have not paid dues within a 10-day period, are as follows:

·         They will not be issued work permits starting from the 16th day from the date of delay

·         Such companies delaying wages a month from the due date will be referred to judicial authorities      ·         Action would be taken against all companies owned by the same owner

·         The owner/s will not be able to register any new company

·         Employees’ bank guarantees will be liquidated

·         The company will be downgraded to the third category

·         Workers will be allowed to move to other companies

The UAE Government’s portal says the law states that if a company with more than 100 workers delays salaries for more than 60 days, it will face a fine of AED 5,000 per worker whose wage is delayed, with a maximum fine of AED 50,000 in case multiple employees have not been paid.

Similarly companies employing less than 100 workers that do not pay dues within 60 days of the due date face the following penalties:

·         work permits ban

·         fines

·         referral to court

“If the company commits such violations more than once in one year, Mohre will apply penalties stated for companies that employ over 100 workers,”

ALBAB PRO SERVICES

      PRO Service

1.     For case to case basis

2.     On agreement basis

3.      On project basis

4.     Monthly basis

We at ALBAB understand your dreams and listen to your plans thoroughly. With a team of experts serving the business hub of the UAE by launching numerous new ventures and SMEs, we assist the entrepreneur in establishing their company and finding opportunities that can drive profitable value in their field of work.

Our Experienced PRO’s can make your work easy. Multilingual PROs are ready to assist all nationalities in their local language for more understanding. 

It is quite an attractive proposition for expatriates and foreign investors as they can enjoy 100% ownership with limitless leverages on industry setup and registration. Amazing infrastructure, tax-free environment and lucrative market certainly lures many capitalists from all over the world.

We can turn your investment into a sustainable and successful trade in the UAE by serving as a backbone for every step. 1.     For case to case basis

2.     On agreement basis

3.      On project basis

4.     Monthly basis

We at ALBAB understand your dreams and listen to your plans thoroughly. With a team of experts serving the business hub of the UAE by launching numerous new ventures and SMEs, we assist the entrepreneur in establishing their company and finding opportunities that can drive profitable value in their field of work.

Our Experienced PRO’s can make your work easy. Multilingual PROs are ready to assist all nationalities in their local language for more understanding. 

It is quite an attractive proposition for expatriates and foreign investors as they can enjoy 100% ownership with limitless leverages on industry setup and registration. Amazing infrastructure, tax-free environment and lucrative market certainly lures many capitalists from all over the world.

We can turn your investment into a sustainable and successful trade in the UAE by serving as a backbone for every step

BUSINESS CENTER :

1.State-of-art design
2.Free Meeting Room
3.Free DEWA and WIFI
4.Free Receptionist
5.Free Telephone
6.Fully Furnished Office

Best space for new companies with good business class circle.

WORKSTATION :

1. Good for Startup Companies
2. Budget Office
3. Free Meeting Room on demand
4. Furnished Office

WE provide state of the art serviced offices and co-working environment with individual work spaces of various sizes, that are tailor-made on a monthly and yearly rental packages. All spaces are fully inclusive and are priced according to the size, which means you can control your budgets and move right in.

ALBAB BUSINESS SETUP SERVICES

ALBAB offers a wide range of business setup and administrative services to its prospective and existing clients. At ALBAB, our services ease your day to day business operations hence you can focus your efforts towards your business.We have good track record in all relevant government departments and private organizations that you need to access on a day to day basis to run your business smoothly. The one-stop shop concept brings together the dedicated Government Service Center and private organizations such as Banks and Telecommunications companies to allow you to enjoy the ease of access and seamless processes.

100% ownership guaranteed

You own the company entirely without the need for a local sponsor.
Clear pricing

We ensure you know exactly what you are paying for without any hidden costs.
Free impartial consultation

Our dedicated team provides free impartial consultations so that you end up with the best licensing solution that’s tailored to your needs.
No physical office space requirements

You are not required to take a physical office space, nor do you need an NOC.