Globalized business world has been interested in the double taxation issue a lot with the advancement of new technology. In this context, companies and individuals operating across borders are often affected by the problem of double taxation—being taxed in both the country of income origin and their country of residence. The United Arab Emirates (UAE), which is facing a situation, whereby a residence is represented by a TRC, has one of the best methods of combating the double taxation problem.
At Vigor Accounting & Taxation, we provide the necessary clarification to the prospective clients in terms of VAT feasibility and the acquirement of Non-resident Companies (NRC) services. We frown upon tax accord breaking, forgery, tax evasion, and money laundering, among other practices. We can be instrumental in the fight against fraud and even capital loss. We inform our clients how they are subjected to as much monitoring as possible to check if they exercise a proper level of control. We keep track of their Activities in foreign jurisdiction.
A Tax residency certificate (TRC) or Tax domicile certificate is a certificate issued by the UAE Ministry of Finance (MoF) to prove that an individual or an entity is a tax resident of the UAE. It is through this certificate that the Companies and other individuals can prove that they are benefiting from the Double Taxation Avoidance Agreements (DTAA) between the UAE and the other countries meaning they cannot be ell taxed on the same income earned.
The UAE has entered into DTAA agreements with more than a hundred countries and therefore it is advantageous for investors and expatriates who wish to reduce their tax liabilities.
This shows that TRC is crucial in international purposes for it has helped in solving several issues that people could not solve on their own. Nothing is as crucial as this because through a Tax Residency Certificate businesses and individuals can be able to enjoy the foreign tax treaties and be able to avoid double taxation.
An Application of the Legal Framework for Compliance with International Tax Laws It is important for firms to adhere to the international requirements of taxation because failure to do so may lead to penalties, disputes, as well as being subjected to tax in two different countries on the same income.
The following documents are generally required to apply for a Tax Residency Certificate:
At Vigor Accounting & Taxation, we make the process of a TRC application for you as simple as pie. Here's a simple description of the entire procedure
At Vigor Accounting & Taxation, we guide our customers through the whole process of TRC application using a specialized approach. We make sure that it is as seamless as possible for businesses and individuals to get their TRC and that they stay tax compliant with the use of UAE regulations.
Our experts are knowledgeable about the laws and the application of tax laws in the UAE. One of the things we are very proud of is our knowledge of tax regulations, including the TRC area and the NAFTA provisions.
We adjust our services to fit the bespoke needs of your business or personal tax situation.
Our professional team manages the whole TRC application process and saves your time and shields you from possible errors.
Don’t wait—schedule your free consultation today and take the first step towards transforming your vision into reality!
