Tax Compliance

DIRECT TAX COMPLAINCE

Corporate Income Tax (CIT):

Prepare, review, and file corporate income tax returns per local and GAAP statutory standards/requirements as per country judistrition. Businesses can select the requisite level of service to fulfill their tax compliance needs.

Regional or other tax:

Obtain and review regional tax information and prepare requisite documentation and work papers to file tax returns for annual earnings of corporations and other legal entities levied by individual countries and governing bodies.

Other jurisdictional taxes:

■ Include equity tax, payroll taxes, long-term incentive tax, and other jurisdictional specific taxes.

■ Include equity tax, payroll taxes, long-term incentive tax, and other jurisdictional specific taxes.

INDIRECT TAX

VAT Return Filings:

We can assist you in ensuring that you are in compliance with the requirements and that no overpayments are made. We provide efficient and cost-effective VAT advisory services in dubai to assist you in managing this difficult sector.

VAT Refunds:

Preparing VAT refund documentation may be time-consuming, therefore we make the process easier for you. We create and file documentation in accordance with FTA regulations to ensure smooth VAT refunds in the UAE.

Voluntary Disclosure:

Have you made a mistake on your tax returns, assessment, or refund application? We can assist you with filing a VAT Voluntary Disclosure in the UAE.

VAT Registrations & De-Registration:

VAT Registrations and De-Registrations in the UAE need a plethora of documentation and information, and our specialists can assist you in ensuring Tax Compliance Services and avoiding penalties.

ADDITIONAL TAX COMPLAINCE SERVICES

ESR Compliance:

We can assist you in ensuring that you are in compliance with the requirements and that no overpayments are made. We provide efficient and cost-effective VAT consultation services in the UAE to assist you in managing this difficult sector.

Tax planning and impact assessment for new business:

Providing startups and newly registered businesses with advice on evaluating growth plans, facilitating regulatory mandates, creating reporting structures, setting up optimum legal structure and transaction flows, designing internal policies and systems. We offer advisory services at the inception to help manage and build risk management and tax compliance capabilities, including:

■ Streamlining of payroll related tax compliances, accounting, tax, and financial statements with internal and external statutory requirements.

■ Creation of control centric policies, and procedures for a business’s operating environment.

UBO Compliance:

Ultimate Beneficial Owners (UBO) has gained importance as efforts are being made against money laundering, we help businesses in identifying & assessing the Ultimate Beneficial Owners (UBO) compliance applicability for accurate reporting to authorities.

CbCR Reporting:

■ Country-by-Country Reporting (CbCR)is the requirement of the Organization for Economic Co-operation and Development (OECD) through its Action 13 of Base Erosion and Profit Shifting (BEPS).

■ BEPS Action 13 requires large Multinational Groups of Entities (MNEs) to file a CbC Report that should provide a breakdown of the Multinational Group’s global revenue, profit before tax, income tax accrued, and some other indicators of economic activities for each jurisdiction in which the MNE operates.

■ The purpose of CbC Reporting is to eliminate any gap in information between the taxpayers and tax administrations with regard to information on where the economic value is generated within the MNE Group and whether it matches where profits are allocated and taxes are paid on a global level.

■ Our team of tax experts helps businesses to assess the applicability of CbCR on their business based on the country of operation and support in filing reports to the tax authorities.

Transfer pricing:

Transfer pricing is an accounting practice that represents the price that one division in a company charges another division for goods and services provided. Each taxable jurisdiction around the world has its own sets of transfer pricing rules and documentation requirements. We at PRF, provide guidance to companies on complying with transfer pricing rules and help them in preparing and maintaining appropriate transfer pricing documentation (Master file and Local file), complying with rules and documentation requirements in line with the OECD transfer pricing guidelines