1. Corporate Tax Registration & Compliance:
Corporate tax is a tax imposed on the profits of companies. JYWA SETTLERS offers services related to corporate tax registration and compliance. This involves assisting businesses in the United Arab Emirates (UAE) to register for corporate taxation, which is important to establish their legal and tax status. Here’s how it works:
Registration: JYWA SETTLERS guides businesses through the process of registering for corporate tax with the relevant authorities in the UAE. This involves providing the necessary documentation and information required for registration.
Compliance: Once registered, businesses must adhere to the UAE’s corporate tax regulations. JYWA SETTLERS ensures that businesses understand their obligations, maintain accurate financial records, and submit the required tax returns on time. This helps businesses avoid penalties and legal issues related to non-compliance.
- VAT Registration:
Value Added Tax (VAT) is a consumption tax applied to the value added at each stage of the supply chain. Businesses that exceed the specified turnover threshold are required to register for VAT in the UAE. JYWA SETTLERS assists businesses with VAT registration:
Threshold Assessment: JYWA SETTLERS evaluates a business’s turnover to determine whether it meets the VAT registration threshold. If the threshold is exceeded, the firm helps the business navigate the VAT registration process.
Documentation Preparation: The firm assists in preparing the necessary documentation and information required for VAT registration. This includes providing accurate financial data and other relevant details.
Submission: JYWA SETTLERS submits the registration application on behalf of the business to the appropriate tax authority. This ensures that the registration process is completed correctly and efficiently.
If a business’s circumstances change and it no longer meets the requirements for VAT registration or corporate tax, it may need to undergo the process of de-registration. JYWA SETTLERS provides assistance in this process:
Eligibility Assessment: The firm evaluates whether a business is eligible for de-registration based on factors such as turnover or business activities.
De-registration Process: JYWA SETTLERS guides the business through the de-registration process, ensuring that all necessary steps are taken to inform the tax authorities and fulfill the requirements.
- VAT Return Filing:
VAT-registered businesses are required to submit regular VAT returns that detail their taxable transactions and the amount of VAT collected and paid. JYWA SETTLERS helps businesses with the VAT return filing process:
Data Collection: The firm assists businesses in gathering and organizing the relevant financial data needed for the VAT return.
Calculation: JYWA SETTLERS calculates the VAT liabilities and refunds accurately, ensuring compliance with the VAT regulations.
Submission: The firm submits the VAT return to the tax authority on behalf of the business, making sure that all required information is complete and accurate.
- VAT Refund:
In certain cases, businesses might be eligible for VAT refunds, such as when the input VAT (VAT paid on purchases) exceeds the output VAT (VAT collected on sales). JYWA SETTLERS helps businesses navigate the VAT refund process:
Eligibility Assessment: The firm assesses whether the business qualifies for a VAT refund based on specific criteria.
Documentation Preparation: JYWA SETTLERS assists in preparing the required documentation and evidence to support the VAT refund claim.
Claim Submission: The firm submits the VAT refund claim to the relevant tax authority, ensuring that all necessary information is included for processing.
In summary, JYWA SETTLERS offers a range of taxation expertise services to assist businesses in the UAE with Corporate Tax Registration in UAE and VAT-related matters. This includes registration, compliance, de-registration, VAT return filing, and VAT refund assistance. Through their experienced professionals, the firm ensures that businesses can navigate the complexities of taxation regulations while maximizing compliance and tax efficiency.