The COVID-19 pandemic wreaked havoc all over the world by itself, but now the after-effects of the virus are gradually getting visible. It is anticipated that the whole world will plunge into a global recession. This will be caused as almost the whole world is currently under lockdown and almost all the business are not […]
Accounting service is a worldwide service that plays a vital role in every industry. Overall accounting can be categorized as a comprehensive and systematic way of analyzing, summarizing and preparing reports based on the transaction, taxation, and regulations. Accounting comprises of many types of accounting such as management accounting, cost accounting and some basic accounting […]
Excise tax is a type of indirect tax that applies to specific goods like tobacco products, caffeinated drinks and also on sugary drinks. Such goods are generally harmful to human health and also to the surrounding environment. These goods are categorized as “excise goods” and the tax applied to it is referred to as the […]
On the 30th of April 2019, the UAE enacted the Economic Substance Regulation (ESR) by introducing the Cabinet Decision No. 31. According to this decision, economic substance requirements for the businesses which were carrying out “Relevant Business Activities” were provided. This decision was issued by the Ministry of Finance (MoF). Further updates were also later […]
The United Arab Emirates comprises of many free zones which provide numerous advantages and benefits to the upcoming businessmen and entrepreneurs. These free zones act as a springboard for the budding companies and provide various benefits to the companies. One such Free zone is the Sharjah International Airport Free zone (SAIF). Sharjah International Airport Free […]
The presence of various free zones in the United Arab Emirates along with various other essential factors such as proximity to markets, smooth transportation of goods and raw materials, stable government and a very cooperative business environment is a significant factor due to which the companies from all over the world flock to the country. […]
During the COVID-19 crisis and oil price slump, the UAE are spending tens of billions on supporting their economies, but the scaling back of state projects is counteracting the impact. Due to the downfall of the world economy and global travel disturbances and the lockdown of most public venues, the pain is felt by the tourism, retail, […]
One of the most attractive factors for a businessman to set up their business in a different location is if a particular set of conditions will be available to its business. All such factors, whether it is a suitable location, proximity to raw materials and market, cheap and knowledgeable labour or any other, are available […]
There are many tax-related frauds which happen all over the world. To combat this situation, Economic Substance Regulations (ESR ) have been presented all over the world in the countries which have none or very less corporate taxes. This move is a welcome one as it will help notify the business activities of the company […]
Restaurant business has been evolving continuously in every era. The whole concept is now limited to serving food and grabbing the attention of food lovers. Today, the competitive market forces the business entities to keep an eye on the overall aspects of the business entity. Imagine yourself to be the owner of a restaurant that […]
