OUR SERVICES
At APEX Business Consultants LLC, we provide a complete range of financial and business advisory services, including VAT, Corporate Tax, Accounting, Bookkeeping, Auditing, and Business Consultancy. Our tailored solutions help businesses maintain compliance, improve efficiency, and achieve long-term success.
VAT (Value Added Tax)
Value Added Tax (VAT) is a consumption tax levied on the value added to goods and services at each stage of the production and distribution chain. VAT was introduced in the UAE on 1 January 2018. “A business must register for VAT if its taxable supplies and imports in the last 12 months exceed AED 375,000. It is optional for businesses whose supplies and imports in the last 12 months exceed AED 187,500. Your company must also register for VAT in the UAE, if supplies and imports are expected to exceed the necessary threshold in the next 30 days.”
APEX Business Consultants LLC help business with the registration process for VAT Value Added Tax. UAE charges VAT on taxable supplies of goods or services at each stage of the supply chain. This general rate amounts to 5%, whilst some goods and services incur a 0% VAT rate, and some goods and services are exempt from VAT.
VAT registrant in the UAE must pay any outstanding taxes by the due date of tax return. Excess input VAT can, in principle, be claimed back from the FTA, subject to a specific procedure. Alternatively, VAT credits may be carried forward and deducted from future output VAT.
Businesses are required to maintain and keep tax records for at least 5 years as per UAE VAT Law. Depending on the types of businesses, the period of record keeping for VAT may differ. Businesses that do not comply with their VAT obligations can be subject to fines and penalties. There are both fixed and tax-geared penalties.APEX Business Consultants LLC navigate the complexities of VAT compliance, helping businesses manage filings, claim refunds, and optimize their VAT strategy.
Corporate Tax
On 31st January 2022, the UAE’s government announced it would be introducing a new corporate tax. The new UAE corporate tax will come into effect in the tax year beginning June 1st, 2023. Businesses whose tax year begins in January 2024 will not have to start paying tax on revenues generated before 1st January 2024. Every Taxable person, including Free Zone person, needs to register for Corporate Tax and get a Registration Number. APEX Business Consultants LLC help business with the registration process for corporate tax.
Dubai follows a progressive corporate tax system with rates between 9% to 55%. The UAE’s corporate tax will be a 9% tax on the profits (revenue minus expenses) of all businesses which generate over 375,000 AED (about USD $100,000). If a business earns income that doesn’t exceed AED 375,000, 0% tax will be charged. Also, a different tax rate will be charged for larger multinational companies that have different business conditions.
Upon receiving dividends or selling shares of a subsidiary company, corporate tax law will include a participation exemption from corporate tax. Also, charities, public benefit organisations, investment funds, businesses engaged in the extraction of oil and resources along with wholly government-owned companies are excluded from corporation taxes.
A group of companies may be able to form a tax group in which they would be capable of being treated as a sole taxable entity. To do so, a company or subsidiary needs to refrain from being an exempted party or being registered in a free zone. APEX Business Consultants LLC help business with the registration process for group corporate tax. Businesses are required to maintain and keep tax records for at least 5 years as per UAE VAT Law. Depending on the types of businesses, the period of record keeping for VAT may differ.
Businesses that do not comply with their Corporate Tax obligations can be subject to fines and penalties. There are both fixed and tax-geared penalties. Corporate tax is the tax imposed on the profits of businesses. It’s a key aspect of financial planning and compliance for companies. APEX Business Consultants LLC provide strategic corporate tax planning, ensuring businesses maximize deductions, credits, and overall tax efficiency.
Accounting / Bookkeeping
Accounting involves recording, analyzing, and interpreting financial transactions. It provides a clear picture of a company’s financial health. It is very important to maintain proper bookkeeping system for compliance with UAE VAT and Corporate Tax Law.APEX Business Consultants LLC, your trusted partner for professional bookkeeping services tailored to meet your business needs. We understand the critical role that accurate and organized financial records play in the success of any enterprise, and our dedicated team is committed to providing you with top-notch bookkeeping solutions.
We offer comprehensive bookkeeping services designed to streamline your financial processes and enhance your overall business efficiency. Our services include:
Accurate Record Keeping
We ensure meticulous maintenance of your financial records, tracking every transaction with precision and attention to detail.
Bank Reconciliation
Our team conducts regular bank reconciliations to ensure that your accounts are always balanced, and discrepancies are identified and resolved promptly.
Accounts Payable and Receivable
Managing your payables and receivables is crucial for maintaining healthy cash flow. We handle these processes efficiently, helping you stay on top of your financial obligations.
Financial Reporting
Receive customized financial reports that provide valuable insights into your business performance. These reports empower you to make informed decisions for the growth of your company.
Payroll Services
Simplify your payroll processes with our comprehensive payroll services, including accurate calculation of wages, gratuity, and timely payments.
Tax Preparation Support
Stay tax-compliant with our assistance in organizing your financial data for smooth tax preparation. We work collaboratively with you for your VAT and Corporate tax compliance.
From bookkeeping to financial statement preparation, our accounting services offer precision and transparency, aiding informed decision-making.
Internal Audit
Internal audit evaluates and improves the effectiveness of a company’s risk management, control, and governance processes.
APEX Business Consultants LLC conduct thorough internal audits, identifying operational inefficiencies, mitigating risks, and ensuring compliance with policies and regulations.
External Audit
External audit, often required for regulatory compliance, assesses the accuracy and reliability of a company’s financial statements.
Our seasoned auditors provide independent external audits, instilling confidence in stakeholders and ensuring financial transparency.
Business Consultancy
Business consultancy involves providing expert advice to enhance the overall performance and efficiency of a business.
We offer a range of consultancy services, from strategic planning to process optimization & automation, helping businesses navigate challenges and capitalize on opportunities.
Our team at APEX Business Consultants LLC is dedicated to delivering customized solutions, leveraging deep industry knowledge and a commitment to excellence. Whether you’re seeking financial clarity, compliance assurance, or strategic guidance, we’re here to elevate your business to new heights.