TAX

Taxes are mandatory financial charges imposed by governments on individuals and businesses to fund public services and infrastructure. Key types include income tax, sales tax, property tax, and payroll tax. Income tax, both personal and corporate, is based on earnings. Sales tax applies to the sale of goods and services. Property tax is based on property value, while payroll tax funds social security and Medicare. Taxes serve to generate revenue, redistribute wealth, regulate behaviors, and stabilize the economy. Different systems, such as progressive, regressive, and proportional taxes, ensure varied impacts on taxpayers depending on their income levels.

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Income Tax

Levied on individuals or entities based on their income or profits. For individuals, it is often a progressive tax, meaning the rate increases as income increases.

Sales Tax

Applied to the sale of goods and services. Consumers pay sales tax at the point of purchase, which the retailer then forwards to the government.

Property Tax

Based on the value of real estate or other property. Property owners pay this tax annually, and it often funds local services such as schools, roads, and emergency services.

Corporate Tax

Imposed on the profits of corporations. It is calculated based on the company’s net income and can vary significantly between jurisdictions.

Value-Added Tax (VAT)

A consumption tax levied on the value added at each stage of production and distribution of goods and services. It is common in many countries outside the United States.

Payroll Tax

Includes Social Security and Medicare taxes in the United States. Employers and employees both contribute, and the funds support retirement and healthcare benefits.

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To proactively guide, plan and resolve issues of our clients on all tax related matters.

Registration of entities with the Tax Authority
Computation of taxes relevant to business and filing returns with the Tax Authority
Reporting compliance with requirements of local tax laws
Advising on technical aspects of local tax laws to prospective investors
Tax due diligence for mergers and acquisitions
Advising on operation and implication of transfer pricing
Designing and implementation of internal mechanism for tax compliance
Assistance to finalize tax issues, appealing and following up with the Tax Authority
Formulating strategies for tax optimization
Tax services for expatriates
Advising on Double Tax Agreements
Capital gain Advisory

In order to pay for different public expenditures and services, governments must impose taxes, which are required financial charges or levies, on persons or businesses. In order for the government to operate and to fund public goods and services like social welfare, infrastructure, healthcare, education, and defense, taxes are necessary.

Mohamed fasly

Founder / Partner

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