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 […]
One of the building blocks of any company is the investors, and all the companies required these investors to grow and expand. An investor will invest in a particular company only if he has access to all the information about the company. In the last few years, there is an increase in the demand for […]
Taxation may seem cumbersome to many people, but it has its own benefits. It is a way for the government to generate revenue on its own, which could be utilized in the development of civic amenities and helping the population of the country. With the increasing population in the world, having a separate source of […]
The Economic Substance Regulation (ESR) Reporting has been recently introduced and implemented in the United Arab Emirates. The ESR Reporting is a step taken by the government in order to combat the tax-related frauds which happen by various companies in the country. According to the ESR Reporting, all the companies must notify the relevant authority […]
Value Added Tax or VAT is one of the latest addition to the taxes which will be applicable to the entities in the UAE. VAT will not only help create a financial record for all the business entities in the country but will also assist the economy of the country by creating a separate and […]
The propagation of coronavirus around the world is affecting the economy and general business climate. The crisis has led, or is likely to lead, to at least a temporary decrease in sales for most companies – and companies that don’t respond to this situation will inevitably put themselves at risk. Wherever change occurs, there is a chance. […]
Auditing is one of the most important functions which every business needs to perform and it can become a very important factor in realising if the business is profitable or if there is some problem, either current or potential, to be faced by the business. This is the reason why it is important to have […]
An auditor is an individual who cross-checks the data of business transactions of a company which is prepared in the first instance by the accountant of the company. The auditor then prepares a report which lays down the level of precision of the financial statements presented to him. If the auditor’s findings match the financial […]
The tax system in the UAE has witnessed a considerable change in recent years. At first, the country used to have almost no taxes, but to reduce the dependency of the country on the revenue generated by the oil and gas sector and to better the economy and infrastructure of the country UAE Government decided […]
