Since the introduction of Value Added Tax (VAT) in 2018 and the new Corporate Tax in 2023, businesses in the UAE are required to stay compliant with tax regulations. At Peer Saab, we simplify the entire process of VAT and Corporate Tax registration, ensuring your business avoids penalties, stays fully compliant, and operates smoothly without financial or legal risks.
Any business with taxable supplies and imports exceeding AED 375,000 annually must register for VAT. Voluntary registration is also available for businesses earning above AED 187,500.
The standard VAT rate is 5% on most goods and services, with some exemptions and zero-rated categories (like healthcare and education).
The Corporate Tax rate is 9% on annual profits above AED 375,000. Profits below this threshold are exempt. Certain Free Zone companies may still enjoy tax benefits if they meet qualifying conditions.
Failure to register or late registration can result in hefty fines and penalties from the Federal Tax Authority (FTA). It can also damage your business reputation and affect operations.
While it’s not mandatory to hire an accountant, professional support ensures accurate filing, compliance with FTA rules, and avoidance of penalties. Peer Saab provides complete filing and advisory support.