A business may apply to register if they do not meet the mandatory registration criteria and:

The total value of their taxable supplies or taxable expenditure in the previous 12 months exceeds the voluntary registration threshold, or
They anticipate that the total value of their taxable supplies or taxable expenditure will exceed the voluntary registration threshold in the next 30 days.
The voluntary registration threshold will be AED 187,500.

Consideration as “all that is received or expected to be received for the supply of Goods or Services, whether in money or other acceptable forms of payment”.

A business must register if:
The total value of their taxable supplies made within the UAE exceeds the mandatory registration threshold over the previous 12 month period, or
They anticipate making taxable supplies with a value exceeding the mandatory registration threshold in the next 30 days.
The mandatory registration threshold will be AED 375,000.

An estate plan is a written document that outlines the disposal of one’s estate and includes such things as a will, trust, power of attorney, and a living will. An estate plan is critical for the family and the business because without it, you will pay higher estate taxes than necessary, allocating less of the estate to your heirs. The estate plan should be used in conjunction with the succession plan to see that the family business is transferred in a tax effective manner.

All business records, especially sales and payroll must be kept for seven years. The Social Security Administration requires discrepancy be resolve anytime within this seven year window. The IRS and the states will audit within the seven year window. Keep all federal, state and local returns indefinitely and the all supporting documents for seven (7) years. Real Estate and stock market transactions records should be kept. Tax consequences of a transaction can depend on events that happened years earlier. Taxpayers often keep files in a single, easily accessible location. Consider keeping your files in a safe deposit box or other safe place outside your home.

All of our services are billed out at competitive hourly rates, unless other arrangements are made.