How Can Accurate Financial Reporting Improve Decision Making for Businesses?
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May 21, 2024
The UAE’s business landscape is changing with the introduction of Corporate Tax (CT) alongside the existing Value Added Tax (VAT). While it might seem complex, understanding the basics can be straightforward. Here at Profitrack, we’re here to break it down for you!
Imagine VAT as a small addition to the price of most goods and services. Businesses collect VAT from customers and then pay it to the government. This tax helps fund public services and infrastructure.
CT is a new tax on the net profits of businesses operating in the UAE. This aims to diversify the government’s revenue and further strengthen the UAE’s economy.
Profitrack’s team of experts can help you navigate both VAT and CT with ease. We offer a range of services, including:
Contact Profitrack today for a free consultation and see how we can simplify VAT and CT for your business. Let’s focus on growth, while we handle the complexities of taxes.
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