FTA’s Tax Clinic: How Does This Help SMEs With Tax Compliance?

With the aim to encourage businesses to comply with registration requirements and timely tax return submissions, the Federal Tax Authority (FTA) has announced a new campaign to address tax issues among business sectors.

WHAT IS A TAX CLINIC?

The campaign is under a three-month period that has been set in Ras Al Khaimah, Fujairah, and Umm Al Quwain. It is yet to be implemented throughout the remaining Emirates.

FTA representatives will be available at the Tax Clinic to immediately accommodate queries on tax, such as issues on registration and its obligations. This is a way for taxpayers to directly address their questions to FTA and to also encourage them to register for Value Added Tax (VAT) to avoid penalties.

The experts from the Tax Clinic will also help businesses, especially SMEs to be familiarised with required procedures in submitting Tax Returns and settling due taxes.

TAX CLINIC CAMPAIGN RUNS

FIRST STAGE

SECOND STAGE

THE FINAL STOP AT:

TAX AWARENESS AMONG BUSINESSES ESPECIALLY SMEs

As small and medium enterprises (SMEs) and startups are being challenged with the newly VAT system in UAE, the Tax Clinic will serve as a great channel for them to raise their concerns. Many SMEs did not have a VAT accounting system prior to the VAT system implementation, leading to a difficulty in fully understanding its procedures and regulations.

The Federal Tax Authority has launched the innovative campaign to promote tax awareness among all business entities, mostly among SMEs. Through the team of experts, SMEs should get the tax-related information they need without visiting the FTA’s head office.

Aside from this, the Tax Clinic campaign aims to gauge questions that have not been raised yet. Through this, the FTA will be able to address issues at their early stages and identify solutions.

A team of tax analysts from the authority’s Registration and Taxpayer Services department shall go on an extensive tour to promote the campaign to different business sectors.

The FTA encourages businesses, particularly SMEs to support the campaign as they will benefit from the opportunity to address any concerns they might have.  

Likewise, we at Creation Business Consultants also aim to provide assistance to entrepreneurs, SMEs and multinational corporations on entering, expanding, and restructuring in the United Arab Emirates, Saudi Arabia, Kuwait, Bahrain, Oman, and Qatar.

We work closely with private equity and law firms, auditors and financial advisors who seek our expert counsel on corporate structuring matters. If you are looking into availing more business setup services in Dubai, don’t hesitate to contact us.