Newsletter Archives - Page 24 of 57

Newsletter, U.A.E

Dubai’s Quest to Create An $870 Million e-Commerce Friendly Trade Zone

June 8, 2020

As part of the United Arab Emirates (UAE) collective effort to diversify the economies of the seven-member nation-states, Dubai’s government recently announced its plans to engage in a major company formation in Dubai project. The exact plans are to create an $870 million e-commerce friendly trade zone that will be populated with companies engaged in digital marketing and various other forms of e-commerce. This area will be located next to Dubai International Airport. It will be called Dubai CommerCity (DCC.)

Dubai’s government collaborated with business set up consultants in Dubai and two nationalized enterprises. These are the Dubai Airport Free Zone Authority (DAFZA) and a property management firm, was Asset Management Group. Covid-19 was a major catalyst in terms of accelerating this project’s movement from the drawing board to actual construction and execution.

DAFZA general director Mohammed Al Zarooni said that the world has an immediate need for world-class eCommerce services. He was of the opinion that Dubai is already experiencing a growing need for an eCommerce trade zone given its rapidly accelerating market demand. The global social distancing measures which governments around the world are currently enforcing is motivating more consumers to shop online. This is giving eCommerce a real boost. The trade zone is scheduled to be operational by the end of 2020.

The entire zone will occupy 2.1 million square feet. It will be separated into three distinct sections: business, social, and logistics. This was according to the Global Construction Review’s report. The project is being developed by the Hong Kong P&T group.

Amna Lootah, DAFZA’s assistant general-director was of the view that they are combining the latest in technologies and infrastructure to create an ecosystem where eCommerce companies can be successfully established and thrive. The main objective in terms of these companies is integration.

The DCC is the first eCommerce free zone that will actively encourage trade and business growth in the Middle East-North Africa (MENA) region. Dubai’s government is luring eCommerce merchants by completely waiving income and corporate tax requirements. These companies will also have subsidized immigration, healthcare, administration, and banking services. They will be supported by warehouses manned by artificial intelligence. Their workers can enjoy free and discounted food in surrounding restaurants and cafes. The project will be completed in a series of phases. The first of which is scheduled to begin in November. The last phase is scheduled to end in 2023.

This project is not Dubai’s first foray into the digital world. Its government actively explored and researched digital wallet technology in 2019. The objective was to find a way around the exorbitantly high government fees that were levied on businesses and consumers. The government created a proposal in 2014 which envisioned using digitization measures to transform Dubai into the ‘happiest city on Earth’. The proposal was one component of the ‘Smart Dubai Program’ which was launched in 2014. The national government is expanding access to financial and banking services for its consumers as part of an effort to finance this.

Dubai may become the next Silicon Valley

DCC is just one of many initiatives by Dubai’s government to ‘plug the city into the digital world.’ Dubai’s government and private enterprises are currently launching many projects to make this a reality. Indeed, with enough luck, Dubai may soon become the next Silicon Valley.

India, Newsletter

India looking to attract US Companies away from China

June 8, 2020

As the US continues blaming Beijing for the role it played in creating the COVID-19 virus and the Coronavirus pandemic, India is now looking to attract US companies away from China and promoting India company incorporation. This past April, the Indian government contacted over 1,000 US companies and provided incentives for them to leave China and establish their operations in India. The country has placed the highest priority on the following industries:

auto parts manufacturers
food processing units
leather
medical equipment suppliers
textiles

According to Indian Government officials involved in the effort, more than 550 products could be affected by this relocation. In a recent interview, Prime Minister Narendra Modi stated an investment surge of this magnitude would shore up India’s economy which has been devastated by the lockdown that was put in place to combat the virus. Consequently, the need to create new jobs is even more urgent now that there are an estimated 122 million individuals that lost their jobs as a result of the pandemic.

With the constant blame and battering by US President Trump, China is seeing worsening global trade ties due to the mismanagement of the COVID-19 outbreak. With more companies planning to moving out of China for diversification of supply chain, many European Union members are looking to reduce dependence on China.

For India, a surge in the foreign investments will be a way to boost the battered economy due to the long lockdown to control the COVID-19 outbreak. It will help Prime Minister Modi realize the target of improving the manufacturing sector to meet the aim of 25% of GDP by 2022. Additionally, it will help push through the required reforms in taxes, land and labor laws. Most of the foreign forms have been informed that India is more economical than moving their manufacturing to their own countries.

Bringing in new India company formation would also provide an opportunity to pass labor, land, and tax reforms that have been stalled by bureaucratic red tape and have hindered significant business investments for many years. While this would also enable India to establish a strong presence in numerous global supply chains, it will require some very serious governance and infrastructure investments as well. It is well known that India has long been facing tough competition based in southeast and southern Asia.

In terms of affordable labor and the securing of land, India is better economically for companies than Japan or the US despite the overall costs being higher than what they are in China. The Indian Government has also offered assurances that they would consider requests to change the labor laws which have always been viewed as a major obstacle for many companies. The government is also considering delaying digital transaction taxes for e-commerce companies as well.

With abundant capital available in the US versus other countries, India is poised to respond those US companies looking to end their relationship with China. More and more companies are now realizing there is no longer a need to keep all of one’s eggs in a single basket, or in this case, China.

Newsletter, U.A.E

Current State of the Economic Substance Regulation in the UAE amid Covid-19 Crisis

May 25, 2020

In the wake of the scourging global pandemic i.e. the Coronavirus threat, the existing ESR or the Economic Substance Regulations pertaining to the UAE get a decisive and much-anticipated makeover. While businesses are usually required to file the ESR notifications each year within 31^st of March, the pandemic has shifted the deadlines to 30^th of June.

We believe that our readers would still want certain insights regarding the ESR compliance before getting the exact point of this declaration, straight from the Ministry of Finance.

ESR or Economic Substance Regulation entails to one form of financial compliance that requires businesses or rather licensees to declare a few essential details to the Financial Regulatory Authority. While the concept was originally formulated by the European Union, the UAE jumped onto the ESR bandwagon, in 2018.

The main aim of this regulatory compliance was to ensure adherence with the interests of the Economic Substance and to make sure that businesses aren’t conducted only to cater to the more premium tax regime. Needless to say, the ESR duly revolution the Tax Policy within the country besides making room for improved transparency, fairest possible tax competition, and BEPS Implementation.

From UAE’s standpoint, ESR concerns compliance with the following factors:

Licensees abiding by the concept of Relevant Activity
Even if Relevant Activity is in picture, the entire portion of the gross business income is in direct relation with the relevant business activity and applies for taxing in a jurisdiction outside the UAE or not.
The timeframe of the Financial Year pertaining to the Licensee, which is strictly from an accounting standpoint

In order to abide by this regulatory compliance, businesses must file notifications at the specified time, form, and the approved manner. Lastly, the ESR guidelines apply to offshore, onshore, and Free Zone companies, provided income is generated via Relevant Activities.

The Pandemic Shift

The UAE government feels that any kind of meeting or association, in order to discuss about the ESR isn’t prudent enough during the existing scenario. This is why filing dates have been revisited, to manage the risks of non-compliance.

As mentioned by the Undersecretary, Ministry of Finance, UAE, Mr Younis Haji Al Khouri, the cutoff date for filing nomination under ESR has now been extended up to 30^th of June. Although this piece of information has already been communicated to the concerned regulators, there are a few who have cut short the dates to ensure proper compliance.

There are quite a few firms and individual associations that have already modified the dates, in addition to the government’s official notification. These include:

Association Name: DAFZA or the Dubai Airport Free Zone Authority

Cut-off Date: May 3^rd, 2020

Additional Details: Filing guidelines available

Association Name: ADGM or the Abu Dhabi Global Market

Cut-off Date: Not announced yet but certainly extends beyond 31^st March

Additional Details: Guidance available in regard to better understanding of the filing process

Association Name: DSO or the Dubai Silicon Authority

Cut-Off Date: Extended but date yet to be announced

Additional Details: Guidance available online

Association Name: DIFC or the Dubai International Financial Center

Cut- off Date: Official date is yet to be announced but IMC believes that it would be 30^th June, 2020

Additional Details: Filing guidelines are already up on the website with proper guidance

Association Name: RAKICC or the Ras Al Khaimah International Corporate Center

Cut Off Date: 30^th June, 2020

Additional Details: Guidance available

Association Name: DMCC or the Dubai Multi Commodities Center

Cut Off Date: 30^th June, 2020

Additional Details: Guidance to be uploaded soon

Penalties

Provided licensees fail to abide by the deadlines and file notifications accordingly, penalties in the ballpark of AED 10,000 to even AED 50,000 can be levied.

How IMC can help?

With the pandemic leading to the date extension, businesses in the UAE, precisely the International Groups, now have the opportunity to revisit the drawing board and assess whether they are following the Relevant Activity guidelines to the T or not.

We, at IMC, are currently helping our clients ascertain the non-compliance threats related to the ESR while offering remedial measures to mitigate the risks related to business sustenance.

Newsletter, U.A.E

Applying for a VAT (Value-Added Tax) Refund in UAE

May 21, 2020

One of the most crucial parts of an effective tax strategy is knowing how to recover the VAT you’ve paid during the past tax year. Not only is it important to know if you have the right to apply for a VAT refund, you should be aware of the preparations involved so you can obtain it as soon as possible.

What is a VAT Refund?

Under FTA regulations, all registered businesses must submit a VAT return outlining the details of their sales and purchases for the tax period. Input VAT refers to the amount paid to suppliers for purchases or expenses, while Output VAT refers to the amount collected from sales. The input VAT amount can be offset against the output VAT amount.

Due to its complexity, businesses should seek expert advice to claim a VAT refund in the UAE before submitting a VAT refund form.

Timeline for VAT Refunds

When a taxpayer applies for a VAT refund, the Federal Tax Authority (FTA) will review and process the claim within 20 business days from the submission date. The FTA will inform the taxpayer of their decision to accept or reject the claim. If the processing time exceeds the 20-day deadline, the FTA will notify the taxpayer of the extension.

VAT Refund: Helpful Tips

First and foremost, the tax refund file must be complete and fully prepared before you submit it to the tax office. Furthermore, all VAT refund procedures must be compiled correctly to receive your claim amount quickly and without any delays. The more common factors that can result in a delay include:

Difficult administrative procedures
Incorrect or insufficient documentation
Missing deadlines when replying to the Federal Tax Authority
Not understanding the indirect tax rules

Keep in mind that delayed or missed refunds and unclaimed tax credits can result in a negative cash flow and “tax leaks”, both of which can increase your costs of doing business and reduce your profitability in the process.

As a relief measure and in response to the COVID-19 (Coronavirus) pandemic, UAE businesses can expect to receive their VAT refunds earlier than usual. A number of tax professionals now believe that the Federal Tax Authority has accelerated the refund process for those businesses that have already submitted their returns.

We are here to help with Your VAT Refund

Our tax agency is registered with the Federal Tax Authority and is comprised of a team of professionals that are dedicated to providing the highest quality service and your satisfaction. We are happy to share our tax refund experience and expertise, especially when it comes to complicated, detailed, and tedious bureaucratic processes. We can assist you with:

Reviewing VAT returns, calculations of refundable VAT, working papers and check documentation for filing refunds

Prepare documents and data templates for VAT refund applications as per laws
Check for VAT non-compliance for your company
Prepare and submit the VAT refund application
Look over the VAT refund report on missing documents/points, respond to queries of FTA and re-submit after corrections
Manage correspondence and communication with Federal Tax Authority
Visit the tax office and handle the finalization of the VAT refunds

With our extensive network of tax professionals and VAT specialists, we can easily assist you in developing and improving the processes that will enable you to reduce administrative costs and the time invested when applying for your refund. We are with you at every step of the way when it is about tax and VAT filing and refunds. To know more about the offered services which are not limited to corporate tax and VAT, please call Intuit Management Consultancy (IMC Group).

India, Newsletter

Make in India Boosted by PM Modi’s Rs 20 Lakh Crore Package to Tide Over COVID- 19 Pandemic

May 20, 2020

Considering the detrimental effect of the COVID-19 pandemic that has led to the lockdown for over 8 weeks, Prime Minister Narendra Modi recently announced a special economic package of Rs. 20 lakh crores. He stressed on the importance of being self-reliant as a road map for successful economic development. He said that after carefully formulating economic support to all sections of the society, it will focus on not just a single industry or business but covers MSMEs, cottage industries and all local businesses.

Announcing the relief package under ‘Atmanirbhar Bharat Abhiyan’, he stressed that it will not only strengthen the Indian supply chain globally but will ensure that land, labor, law and liquidity will boost all economic sections of the businesses and industries including agriculture.

The mega economic package is being seen as a big boost to the businesses and industries that have suffered a setback due to the lockdown imposed to combat the COVID-19 pandemic. There have been many projections about India’s economic growth that it might just be 2% in the current financial year. The PM’s economic package has been unveiled based on similar economic boost given by other countries like Japan and USA. The relief package is built on five pillars – demography, system, economy, demand, and infrastructure.

PM Narendra Modi said that the pandemic has taught the country that being self-reliant is the only way forward. He said being vocal about local products will help businesses flourish again and facilitate the economy. He was confident that 21^st century belonged to India as with new energy and determination, the nation will move forward. The relief package is about 10% of the Indian GDP and the details were outlined by the Finance Minister, Nirmala Sitharaman. Covering all aspects of the Indian economy, not just the large industries, PSUs but Micro, Small and Medium Enterprises (MSMEs) and agriculture sector were given equal impetus by the allocation of funds. When most countries are dependent on imports, this relief package is all about facilitating the Indian economy and local manufacturing and production.

He quoted the making of PPEs and N95 masks as an example. Though these items were being imported earlier, with the advent of the demand during pandemic, the local production of these items has created a new industrial need. Now, 2 lakh units are being manufactured every day locally. About the pandemic, the PM Narendra Modi was of the view that India needs to learn to live with it while the lockdown bought some time for the government to strengthen the healthcare system.

During the first lockdown, the MSMEs has got impetus from the government to reduce dependence on imports and stress on Make in India. The MSMEs had sought regulations to streamline the prices on various products manufactured by different industries with tax holidays and discounts. They suggested that post- COVID 19, government identifies industries that are heavily dependent on Chinese imports and encourage Make in India for those products.

Newsletter, Saudi Arabia

Kingdom of Saudi Arabia announces Increase in Value Added Tax

May 20, 2020

The Saudi Arabian Government recently announced that the VAT or Value Added Tax will be increased from 5% to 15% as of July 1^st, 2020. The increase is one of several measures that have been taken in response to steadily declining government revenues associated with the impact of the Coronavirus on the Saudi Arabian economy. Reports state that the decline in revenues is attributed to increased healthcare costs, lower oil prices, and reduced economic activity.

How will the VAT increase affect Businesses?

Due to the enhancement of VAT rate, most of the businesses in all industries will be affected in Kingdom of Saudi Arabia (KSA). Additionally, business can expect a higher amount of scrutiny from the General Authority of Zakat and Tax (GAZT) because the VAT has become an important component of the revenue to the state. It is time for businesses to review their costs as even those businesses that are exempt shall be affected.

Whether your sales are fully or partially exempt, you could experience increased costs directly associated with the 10% VAT increase. Furthermore, the increase will have an impact on all Saudi Arabian industry sectors including the financial, insurance, and real estate sectors. Although consumers will feel the impact of the VAT increase as well, it remains unknown as to whether or not the lower VAT rate will still apply to foods and utilities in order to mitigate the effects of the increase.

Due to the difference in timing between VAT payments and recovery, businesses can expect the increased tax to impact their cash flow. Consequently, cash flow planning efforts will have a renewed significance. Additionally, business owners should review their internal operating processes and systems so as to reflect the higher rate. In the coming weeks, businesses and consumers can expect to see additional guidance for transitional rules released by the authorities.

The rate increase has affected cash flow of businesses as there has been a difference in the timing of VAT recovery and payments. Thus, the importance of cash flow planning has emerged as a significant aspect of keeping businesses afloat. It is time to take a deeper look at the processes and internal systems of businesses as there is an increased VAT rate.

Additional Considerations

Taxpayers should begin monitoring the impact of the VAT rate increase immediately so they can measure the effect on their cash flow, chain of supply, and daily operations. As a reminder to taxpayers, the window for making voluntary disclosures without fees or penalties will remain open until June 30^th as per last month’s VAT incentive alerts. This will enable businesses to fully ensure that they are compliant with VAT regulations.

If your company needs assistance for business and corporate advisory consulting or tax advisory services, contact IMC Group.

Newsletter, U.A.E

Manufacturing Sector to Benefit From the Recent FDI Update – 100% Foreign Ownership

May 18, 2020

As per the recent FDI law update, 100% foreign ownership is allowed in mainland companies in certain sectors of the economy. The resolution allows 122 economic activities in which FDI is permitted. This list includes economic activities across various sectors including agriculture, manufacturing and services (including healthcare, hospitality, construction, education, among others). This move aims to strengthen the UAE’s commitment to become the preferred foreign investment destination in the region.

The UAE government is making every effort to raise the industrial sector’s contribution to the GDP and foster economic growth by working towards building a sustainable and diversified economy. In fact, the country is all set to achieve its mission – UAE Vision 2021 and UAE Centennial 2071 – a long-term government plan spanning over five decades. The recent FDI regulations will further boost this plan.

It is worth noting that the UAE’s economy still stands strong despite the recent crude oil price fluctuations and global slowdown caused due to COVID-19 pandemic. Besides, the country’s economy is heading towards major diversification and focusing on building a future based on non-oil sectors.

While companies are facing a bigger challenge of addressing supply chain issues and additional manufacturing locations, UAE also focuses on achieving advanced technology outputs in order to transform its business models.

UAE enjoys the advantage of its strategic location on the new Southern Silk Road between Asia, Europe and Africa. Besides, it also ranks high in all the five areas of manufacturing environment viz, infrastructure and innovation, energy and transportation, policies and regulations, workforce quality and unrestricted adaption of automobile and Artificial Intelligence facilities. The favourable economic environment results in increased productivity which in turn helps develop transformative technologies helpful for developments in the fields of Artificial Intelligence, Advanced Innovation, Fourth Industrial Resolution, etc.

With the global crises, there are uncertainties regarding economic growth. During such times, UAE is focusing on finishing its infrastructure and strategic projects which were kept on hold for a long time. This is further set to boost investment in the region. The manufacturing sector is largely benefitting from this move. Manufacturing sectors are given special attention as they help achieve these projects in all economic sectors such as medicine, aviation, renewable and nuclear energy, military, aluminium, plastic, food, engineering, robotics, space, biotechnology, artificial intelligence, self-propelled vehicles, etc.

For businesses setup in UAE, this new FDI law update will prove to be very fruitful. If you are looking for company formation in Dubai, you may consider reaching IMC Group.

India, Newsletter

For Foreign and Non-Resident Indian Visitors relaxed Residency Rules in Wake of COVID-19 Pandemic

May 14, 2020

As per the Income Tax Act, 1961 Section 6 provides for the residential status of the individual based on the stay during the financial year that commences from April to March every year. This year due to the hardship created by the Coronavirus pandemic, foreign nationals and non-resident Indian visitors who have come to India for business, employment, or personal reasons have been unable to leave and return home. As a result, the CBDT (Central Board of Direct Taxes) has relaxed residency rules under Section 6 of the Act vide Circular No. 11/2020 dated May 8^th, so that visitors who are compelled to stay will not have to change their non-residential status. Residency rules have been relaxed as follows:

For those individuals who haven’t been able to leave the country on or before March 31^st and have been quarantined as a result of the COVID-19 pandemic after March 1^stand evacuated on or before March 31^st

For those individuals who haven’t been able to leave the country on or before March 31^st from the date of quarantine until their departure (or March 31^st as may be the case) or has evacuated India on or before March 31^st

The CBDT’s clarification will provide relief for individuals who were about to exceed the threshold for non-resident status/RNOR (Resident but Not Ordinarily Resident) because of being quarantined in India during the financial year of 2019-20. Currently, there is no relief being provided for an extended stay during the 2020-21 fiscal year. However, the CBDT is aware of the issue and is reassuring individuals that they will be provided with relaxed residency rules. The Organization for Economic Corporation and Development (OECD) has given guidelines to encourage countries to adopt coordinated measures adopted by Ireland, UK and Australia.

Consequently, relief will be provided to those individuals who were visiting India and were unable to leave because of the COVID-19 lockdown. Individuals should have the proper documentation and be able to demonstrate that they were forced to stay in India because of the lockdown. Furthermore, the OECD (Organization for Economic Co-operation and Development) has recommended that tax authorities shouldn’t change an individual’s residential status of senior executives and main functionaries of the companies, based on these circumstances.

Additionally, the circular did not provide relaxation in regard to any ‘permanent establishment’ (PE) of the company that are staying under the lockdown or forced extension of the stay period.

Newsletter, Saudi Arabia

Mitigating the Developmental and Economic Impact of COVID-19 with new VAT Incentives in Saudi Arabia

May 11, 2020

In order to mitigate the developmental and economic impact of the Coronavirus on the Saudi Arabian private sector, the General Authority of Zakat and Tax (GAZT) recently launched a number of incentives that will provide support for taxpayers and stimulate the economy. These General Authority of Zakat and Tax incentives in Saudi Arabia fall in line with:

The International Monetary Fund recommendations for global tax authorities
Ministry of Finance resolution announcements
Royal Decree No. 45089 dated March 18^th, 2020

The scope of these incentives applies to companies doing Business in Saudi Arabia and that failed to meet their registration obligations and enables them to register for VAT. Here is a quick recap of the provided incentives related to the VAT as it gives the taxpayers a chance to get relief from penalties.

As the opportunity is time bound till end of June, experts recommend that the companies and taxpayers look over the past tax returns and disclose all of the errors or omissions under this window of opportunity. The following is a summary of these incentives as they relate to the VAT:

Eligibility and timeframe – benefits are extended to all registered taxpayers as well as those that are required to register according to KSA VAT legislations (includes non-residents who are required to pay VAT in Saudi Arabia. In addition to this, any VAT registration as well as return amendments made between March 18^th and June 30^th, 2020 will be eligible for benefits.

Late registrations – for resident and non-resident entries that should have been registered prior to the original date of March 18th, NO penalties will be imposed from 18^th March to 20^th June 2020 and this holds valid for non-resident taxpayers.

Returns and voluntary disclosures – VAT returns that were due prior to March 18^th can be filed up until June 30^th without incurring penalties. Taxpayers are allowed to make amendments to previously submitted returns up until June 30^th without incurring penalties. Furthermore, that can apply for an installment plan and make payments during the incentive period. Previously audited GAZT returns can also be amended while those returns that are undergoing an audit can be amended by contacting the GAZT directly.

It should also be noted that there are limitations that will apply where these incentives are concerned. For example, any additional taxes or penalties that were imposed prior to the date of the initiative will not be cancelled. Additionally, any requests for tax refunds due to VAT returns amendments will no longer be accepted. They will be processed as per the current KSA VAT Legislation. For additional information or to learn if these new VAT incentives apply to you, contact a VAT consultant in Saudi Arabia.

Thus, to claim benefits under this new scheme, all previous liabilities need to be cleared before 1^st July 2020. Thus, it is time to review the previous and current VAT position to keep your tax returns in order and smoothen the process.

If your company is looking for professional assistance with VAT and tax filing procedures, contact Intuit Management Consultancy (IMC Group). With years in the

Industry, we offer business set up solutions, tax advisory, international tax structuring, bookkeeping and VAT. Call us today and let us help you.

Bahrain, Newsletter

Deadlines for reporting Economic Substance have been extended for Businesses in Bahrain

May 11, 2020

It goes without saying that the economic impact of the Coronavirus pandemic has been felt on a global scale. Consequently, this has created a number of unprecedented challenges for hundreds, if not thousands of businesses in Bahrain and throughout the Middle East. Various Middle Eastern tax authorities have taken supportive measures to benefit the different business sectors by extending compliance deadlines. According to experts, the following is a summary of these measures concerning the Bahrain business sector.

As of March 29^th, of this year, the Bahrain MOICT (Ministry of Industry, Commerce, and Tourism) has confirmed an economic substance reporting deadline extension in response to the Coronavirus pandemic. Businesses with a fiscal year that ended on December 31^st, 2019 will have until June 30^th, 2020 to file their notifications and relative reports with the MOICT. The original deadline date was March 31^st. Hopefully, this measure will benefit the different Bahrain businesses that have been impacted by this global pandemic.

Additionally, measures regarding economic substance regulation notifications have also been adopted by the following:

ADGM and DIFC of the UAE
DSO and RAKICC of Ras Al Khaimah
Kingdom of Saudi Arabia
Nation of Qatar

The media hasn’t addressed any other specific matters at this time, including deadlines for the filing of appeals and objections. To know more about the recent information on this subject, contact Intuit Management Consultancy (IMC Group). With years in the industry, we have assisted a myriad of companies with tax advisory services, business setup solutions, corporate advisory services, global mobility, bookkeeping and accounting among other services. Call us today.

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Dubai may become the next Silicon Valley

The Pandemic Shift

Penalties

How IMC can help?

What is a VAT Refund?

Timeline for VAT Refunds

VAT Refund: Helpful Tips

We are here to help with Your VAT Refund

How will the VAT increase affect Businesses?

Additional Considerations

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