Value Added Tax is an Indirect tax which is levied on most supplies of goods and services. With effect from 1 January 2018, VAT is paid at each phase of the supply chain and is valid to all eligible companies. VAT-registered companies will submit a VAT return document to the Federal Tax Authority (FTA) periodically […]
Accountancy is a necessity for all types of business organisations. Human memory power cannot remember every transaction concerning business for an extended period of time. So accounting becomes necessary to record, analyse and summarise all business transactions. Accounting statements and documents can be used as evidence in case of disputes. With the accounting records, profit […]
As there was almost no tax levied on the companies in the United Arab Emirates, some of the companies abroad started taking undue advantage of this fact. They may have production of goods in some other country, but to save money, they will reroute the entire shipment through the United Arab Emirates by setting up […]
The COVID-19 crisis is a crucial stage where businesses need all the guidance they can get to navigate through the storm. It is advisable to go for accounting service either by hiring an accountant or else by outsourcing an accountant. Accountants can help you by joining their hands with your organization on this battlefield. Advantages […]
VAT is a kind of indirect tax applied in more than 180 countries around the world, on all purchase of products or services paid at the time of sale. In the region of the UAE, it has been made mandatory to pay VAT. Thus, before the imminent deadline, all the companies in the region must present […]
VAT Return, also known as the Tax return is a statement which a registered person needs to submit to the government authority. VAT Return Filing is a structured documentary statement of income earned, the loss incurred if any, and VAT paid and imposed on the total commodities sold for the specified quarterly or monthly period […]
Financial advisors will support you in so many ways to invest and to achieve your long-term objectives. A financial planner also is liable on behalf of his clients for more than just conducting business on the market. Significant Roles of a Financial Advisor 1. Expertise Financial advisors are more knowledgeable than most people about investment […]
A review of the tax framework of the UAE was done by the European Union, and some of the criteria were to meet by the UAE, which led to the addition of the country to the EU list of Non-Cooperative jurisdictions for Tax Purposes, also known as the EU Blacklist. This, along with the fact […]
Every business needs to follow an accounting method that follows specific predefined standards. These accounting standards help the management of a company in measuring the performance of a company. The administration has to choose from the various types of accounting standards, but in general, there are two main types of accounting standards that are most […]
The implementation of Value Added Tax (VAT) in the country helped the government tap into a new source of revenue for the country. This tax has been introduced in the United Arab Emirates on the 1st of January 2018 and requires special attention from the side of businesses. A business must be registered for VAT as […]
