In today’s world, it is essential to understand the financial standing of the business, and this can be found out by performing an audit of the company. In a company audit, the concerned officers inspect all the books of accounts, and through their inspection, the various loopholes within the company or any procedure which may […]
A company needs to hold a Tax Registration Number in the United Arab Emirates as only a business which has the said TRN will be able to claim for taxes and also will be eligible for a refund. This 15-digit number is also known as a VAT registration number and will be of great help […]
The United Arab Emirates has seen a considerable increase in the number of companies set up in the country. It is also considered a breeding ground for businesses from all around the world. Many functions should be performed while establishing a business, such as accounting and auditing, as these functions can have a significant implication […]
Accounting is an integral part of a company and is regarded as the lifeblood of a company. Without accounting, it will be very challenging for a company to understand the inflows and outflows of cash in the company. One of the crucial things to comprehend in Accounting is Bad Debt and its effect on the […]
Things are slowly turning back to normal, and businesses are gradually starting up. But still, there is fear in the hearts of the people regarding the Coronavirus. Many companies are not working at complete efficiency due to the virus and have to get used to such situations in the future as the virus is going […]
Accounting is one of the vital elements that help a business to measure and keep track of the performance. With the help of reliable accountants and bookkeepers, a business entity maintains a complete record. However, being a business investor, do you think that recording the transactions is enough for a business to grow? No, right? […]
With the recent advancements in technologies, there have been developments in tools and methods to handle a particular subject in almost every topic. Even the field of business accounting has not been left untouched by it. There have been developments in software which will handle all the accounting requirements of a company. The main aim […]
With the implementation of VAT proceedings, the region of UAE has figured out new ways of generating revenue. The concept of VAT holds the specific term “Zero-rate” is used in countries where Value Added Tax (VAT) gets implemented. In business terms, zero-rate means that the good or service involves GST/VAT, but the rate that gets […]
Every business entity needs to pay a certain amount to the government at the end of the financial year, referred to as “Tax.” Recently, the Government of the United Arab Emirates has implemented the VAT law that applies to the business entities at a rate of 5 percent. Now, this step has been helping the […]
On 1st Jan 2018, the United Arab Emirates have implemented the concept of Value-Added-Tax (VAT), to build a unique route for revenue generation. This concept gets implied on the business entities who are entitled to deal with VAT with a rate of 5 percent. Over the implementation of the same, there is another concept referred to […]
