The United Arab Emirates is popular worldwide for its profitable tax regimes for businesses of all sizes and kinds. In fact, it is one of the many reasons why entrepreneurs and businessmen want to set up or expand their businesses in the UAE. Globally renowned for its oil business, the UAE has worked systematically to break the shackles and transform itself into a modern state that caters to businesses on a wide spectrum. And one of the ways it has managed to achieve the status of a business hub is by reforming its policies, including its tax regimes.
To strengthen and maintain its position, the UAE has several tax regimes in place. These regimes also ensure that businesses here maintain a highly professional environment and strive to meet international standards. Although the UAE does not levy any income tax on individuals, it levies taxes on companies under certain conditions. And while the tax system may look straightforward, it is always better to get some assistance from a reliable tax agency in UAE. But why? Read on.
This blog will walk you through all you need to know about a tax agency – what it is, why it is important to partner with a reliable agency, and more.