Tax Law
In the United Arab Emirates, the federal government does not levy taxes on the income of individuals or, under certain conditions, companies. Moreover, one of the main advantages is that they are no withholding taxes imposed on the payment of dividends, interest or royalties.
However, Tax laws exist, each of the Emirates have issued their own tax decrees and the United Arab Emirates has signed no less than 113 double taxation treaties even if some of them are still awaiting entry into force. Consequently, Tax laws are imperative to consider when starting your business and overlooking them would negatively impact your company.
Depending on your main place of business, your sector of activity or the size of your company, there is a plethora of taxes that may apply to different companies and individuals. For this reason, our tax experts in our international network are able to advise you with their in-depth knowledge of tax regulations, both regionally and internationally.
We will ensure that you receive sound and comprehensive legal advice to keep you in compliance with the tax legislation relevant to your situation.
Regarding Tax laws our services include legal opinion based on the following:
- Value-Added Tax (VAT) which has been effective in the United Arab Emirates since January 2018 and applies a standard rate of 5% to most domestic supplies of goods and services, with a mandatory or voluntary threshold per annum which must be filed online with valid tax invoices
- Municipal/Property Taxes
Customs Duty which is imposed in certain sectors of industries
Excise Tax, which has been applicable in the United Arab Emirates since the end of 2017
Digital Tax Stamp (DTS)
Thallium Legal Consultancy can also assist you regarding:
- Tax penalties
- Tax litigation
- Valuation disagreements