Value Added Tax and other taxes in the region:
The Gulf Cooperation Council (GCC) member states are becoming more and more non tax free regions. The governments have seen in the past the necessity to build and maintain a healthier and particular a sustainable economical environment to secure social benefits to its citizens and to offer high-level services to foreigners in order to be an attractive region for foreign investments.
As a consequence the implementation of taxes in the region such as withholding tax, income tax and value added tax was unavoidable. As a first step the United Arab Emirates have implemented the value added tax (VAT) on 1st of January 2018 which was recommended by the International Monetary Fund and was a historical event for the GCC region.
Assignment and repatriation of employees
The assignment of employees or the repatriation of the same may also lead to international income tax matters to be evaluated in advance in order to secure the best efficient tax treatment in the home country. Our team of tax experts with more than 20 years of experience in this sector and in the region are able to provide you with the highest level of tax consulting in this regard.
Our tax related services cover:
- Evaluation of income tax liability in the home country
- Evaluation of transactions under the light of the Value Added Tax regime in the GCC region
- Monthly or quarterly VAT declarations
- Providing guidance on fines/penalties applied due to Tax violations
- Evaluation of Withholding Tax obligations
- Submission of VAT related clarifications
- VAT Refund for foreign business operating in the UAE and GCC
SBS Consulting and it´s cooperation partners are able to provide you with all above services out of one hand.