The past few decades have seen considerable advancement in the technologies in all walks of life. Be its manufacturing industry, communication industry, retail industry, automotive industry, etc. the development of technology has impacted every sector. The accounting industry, though, has been a little slow in catching up with the latest technological know-how but is slowly […]
To make the company a successful one, the management should pay close attention to the finances of the company and how they are handled. Initially, the funds of the company can be managed by the owner of the company, but as the size of the company grows, the finances of the company become more complex. […]
Dubai has recently announced the introduction of a ‘Virtual Commercial License’ in Dubai. This license is the first of its kind, and the possession of this license will allow entrepreneurs and businessmen all around the world to conduct their business in Dubai on a digital platform without any physical presence. About the Virtual Commercial License […]
Starting a business in the UAE is a feasible option for business investors and entrepreneurs. However, it is to be noted that once the business entity gets established, the real challenge is to maintain its existence. Any small move or miscommunication in the internal proceedings might have a drastic impact on the business entity in […]
It is a well-known fact that a business entity needs to undergo the audit process once in the financial year. Now, proceeding ahead alone with the business audit is a crucial task as it involves inspection and scrutiny of multiple scenarios. However, there are chances of error in the internal report that is not well-versed […]
On 1st Jan 2018, the government of UAE has taken a step forward to increase the revenue sources in the nation by implementing the VAT system at a rate of 5 percent on the taxable supply of goods and services at every point in the supply chain. Any business entity that holds taxable supplies and imports […]
Accounting is a very important part of any business, so important that it is considered as the language of businesses. Accounting deals with the recording summarizing analysing and presenting all the business calculations performed by an organization over a definite period or the business cycle. Now, there are a number of subcategories of accounting that […]
One of the most certain scenarios for a business entity is the tax calculations and payment proceedings on a periodical basis. As per the rules stated by the UAE government, the business entities Must submit VAT/Excise returns either monthly or quarterly. The VAT was introduced effective from 1.1.2018 and it turns out to be a second source […]
Tax recordings are one of the integral parts of the business that needs to be clear and error-free. Just like accounting and audit procedures, the tax records are scrutinized during an audit procedure, and any error in them will have a negative impact in the mind of the auditor, and ultimately affect the audit score. […]
With the growing number of company formation in Dubai, the demand for accounting and audit services has continuously been increasing. A business entity needs to implement multiple services to monitor the growth possibilities and grab on colossal revenue. However, implementing numerous services at one time is not possible for a startup, but ignoring them is […]
