Withholding tax is a form of income tax that an employer or payer is required to deduct from the employee’s wages, salaries, and other payments. It is usually based on the amount of money being paid out and the applicable rate set by the government. The purpose of withholding tax is to ensure that employees pay their taxes on time. It also helps reduce the burden of filing taxes for employers and employees.
A Small Good News for You
The UAE has long been known for its tax-free environment. Currently, there is no WHT in UAE, unlike other GCC countries. However, from June 1, 2023, the UAE will introduce federal corporate income tax (CIT) for certain businesses and sectors.
So if you are a business in the GCC region looking for ways to minimize taxes, look no further! Avyanco Withholding Tax solutions enable you to save money by fixing complex WHT payments in Kuwait, Oman, Qatar, and Saudi Arabia. Plus, with our experienced team of tax experts and our best-in-class customer service, you can rest assured that your taxes are handled correctly and efficiently.
How Will Avyanco Help You?
Avyanco services provide businesses with the tools and resources needed to understand and comply with CIT regulations, helping them remain compliant and avoid hefty fines. It offers country-specific tailored solutions for every business belonging to any industry. Avyanco will help you adapt to the changing landscape, so your business can continue operating smoothly in the UAE.