Companies doing business in the United Arab Emirates benefit
from enhanced tax representation.
TMF UAE is now an accredited tax agent and can act as a tax
representative for clients doing business in the Emirates.
Clarence Dominguez, Accounting and Tax Manager at TMF UAE, says
the enhanced capability is particularly beneficial for
international businesses:
"Non-resident entities without establishment incur VAT on
purchases here. If they're only operating in the UAE
temporarily, the VAT paid on business-related expenses can be
refunded."
Around 4% of global business travel spend offers
refundable VAT. The process can be administration-heavy,
particularly for companies without adequate expense management
systems in place. However TMF Group's tax experts say it's
well worth the effort, particularly for multinationals which can be
entitled to very large VAT refund amounts.
