The UAE is considered a hotspot for emerging businesses and provides ample opportunities for companies to achieve the next growth stage. As the companies evolve externally, the internal processes should strengthen to keep up with business growth. The internal process’s strengthening involves the formulation of company operational processes and employing a check mechanism to keep […]
Voluntary Disclosure under UAE Tax Procedure Law
The Government of the United Arab Emirates has taken many steps to ensure that the businesses which have been coming into the country do not face any problems as well as also ensure that these businesses do not defraud the government and pay their dues in taxes. Lately, the government of the UAE issued a […]
What are the Objectives of an External Audit?
The internal functions work as the backbone of the organization. They play a very crucial role in the success of the organization. The internal functions such as bookkeeping, accounting and recording will provide the management with historical data on the direction of the company’s journey towards achieving the goals and targets. Similarly, the audit mechanism […]
Tips for Effective Workflow Management
Managing workflow between employees of different skills set and skillset is a rather difficult process. When people work in conditions where their natural abilities align, they tend to work more efficiently. If they don’t align, they tend to have stress and anxiety. If the person’s skills are far beyond the work they have undertaken, they […]
Why should you avail a Tax Residency Certificate?
In the present scenario of the world, there is easy access to transportation and information. The use of high-speed internet and Globalization has made it possible for businesses to set up their companies at different locations all over the world. This allows them to take advantage of different markets in the world. As with all […]
100% Ownership for Foreign Companies from 1st June 2021
If you were planning to establish a business in the United Arab Emirates but were worried about the sponsorship requirement in the UAE, there is a piece of good news for you. This Wednesday, the Ministry of Economy (MoE), UAE, has announced that it will bring a change to the Federal Commercial Companies Law No.2 […]
A Guide to Tax Group De-Registration
Companies worldwide are required by the regulations specific to the country to pay taxes and file corresponding returns with the respective authorities. UAE has been one of the most attractive investment destinations for companies worldwide because of its geographical location, stability and business-friendly regulations. Until 2018, most companies in the UAE are not required to […]
Why should Business prefer Remote Audit?
There has been a substantial increase in the number of businesses that have sprung up in recent times. Still, with the increase in the number of companies, there has also been an increase in the dangers of fraudulent activities. This has made the use of financial services such as Auditing, Accounting, payroll services etc., very […]
When Should You Outsource the Bookkeeping and Accounting Functions of a Business?
These days outsourcing bookkeeping and accounting functions helps companies of all sizes shore up their teams’ skill gap by outsourcing a particular activity like accounting or auditing or planning to a third party. Outsourcing boosts the teams’ efficiency and sharpens their focus. Advancement in technology has enabled outsourcing to be an affordable option. Since the […]
Results of late Filing /Non Filing of Vat by Businesses
In accordance with the UAE VAT Law, it has become a necessity for every registered company in the country to pay the respective tax returns on a quarterly basis by the 28 of the next month. This opened up a whole new area of tax management for which the company management should keep in mind. […]