Do you know how accurate your accounting and financial statements are? Are you sure your accounting practices are adhering to the UAE legalities? Before knowing about the best practices, you should be aware of the consequences improper accounting. Poor accounting can cause hefty penalties and, in worse cases, even suspension of your business license. How […]
Dubai is one of the best places to start a business. The liberal government and the efforts taken by the government made Dubai a business-friendly place with extraordinarily built modern and high-tech infrastructure. Doing a business setup in Dubai is a straightforward process, but entrepreneurs face hurdles when it comes to auditing. Every second counts […]
Business setup is not that hard in today’s business world, but companies slip when it comes to accounting. For managing the accounts, you always have two options: doing it by yourself and when it comes to doing it within the company by hiring an accountant. You should take care of the eligibility, qualifications, experience, and […]
Not everyone is familiar with the provisions, guidelines, and subdivisions of law that the government has changed regarding the tax system. When a subject is complex and relatively new to everyone, paying attention and following all the protocols is challenging. For businesspeople and professionals in Dubai, the same principles apply. You can avail of the […]
Transfer Pricing, also known as (TP), refers to the prices of transactions of the goods and services charged by the related parties. For example, if X owns two companies, Company A and Company B, the price set by Company A to Company B on the sales of goods and services is known as Transfer Pricing […]
The UAE government has launched the ‘In-Country Value’ Program, which is also called (ICV). This program is a part of “Projects of the 50”, which will be implemented under the supervision of the MoIAT – Ministry of Industry & Advanced Technology. So, obtaining an ICV Certificate in the UAE will help to boost the nation’s economy. […]
The UAE Ministry of Finance (MoF) has announced the issuance of a cabinet decision on a non-resident person’s Nexus in the UAE for the purposes of corporate tax. Foreign companies and other non-resident juridical persons will be subject to Corporate Tax in UAE on income derived from real estate and other immovable property located in the country […]
Do you need to file a VAT Return in UAE if you operate a business here? We’re here to help, and in this post, we’ll go over how UAE businesses can file VAT Returns precisely and easily. All About the VAT Filing in UAE For firms that have registered for VAT in the UAE, filing a VAT return […]
The Ministry of Finance (MoF) in UAE has published Cabinet Decision No. (49) of 2023 specifying the Categories of Businesses or Business Activities Conducted by a Resident or Non-Resident Natural Person that are Subject to Corporate Tax. As per the released Decision: 1. Income from business activities conducted by a resident or non-resident natural person in […]
If you are in business, you cannot disregard the value of accounting and bookkeeping since, regardless of the kind of your enterprise, you must maintain accurate and complete business records. Today, many business owners select Dubai as their upcoming business location so that they may manage and grow their operations in the Middle East. Conversely, […]
