International tax, VAT and Excise in UAE

For many years the UAE has been a tax-free economy. With the significant changes that have come in the last few years in the global business environment, the UAE has introduced taxes in the country. With the advent of Value Added Tax (VAT) and excise duty in the UAE and GCC, businesses are having to have a fresh look at their cost and pricing structures, and hence at their profitability metrics. Further, Base Erosion and Profit Shifting (‘BEPS’) which refers to tax avoidance strategies that exploit gaps and mismatches in tax rules to artificially shift profits to low or no-tax locations has been the focus of anti-tax avoidance discussions globally. With the UAE joining the Inclusive Framework on BEPS (“IF”), it is relevant to consider / evaluate developments pertaining to BEPS, internationally agreed standards on exchange of information for tax purposes and related developments whilst setting up and operating a business.

Working with qualified tax experts not only allows an entrepreneur to focus on the business, but also reduce the risk of falling on the wrong side of the law, thereby leading to significant cost savings.

At PKF, we have an in-house team of expert tax professionals and consultants who have experience of working in various tax regimes. We also have access to PKF member firms around the world who can assist companies in structuring complex deals and transactions in the most tax efficient manner whilst ensuring that all laws are complied with.

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