The European Union has performed a review of the tax framework of the United Arab Emirates, and in the review, it was found by the European Union hat certain conditions were not met. This led to the EU adding the UAE to the list of Non-Cooperative jurisdictions for tax purposes, which is also known as […]
The term due diligence may sound like a new concept but this term has been in use since the mid-fifteenth century. Due Diligence can be explained as taking steps in order to avoid any mistake or offence. In the business scenario due diligence plays a very important role, especially has taken an essential role in […]
Auditing is an age-old procedure of understanding the position of your company. An auditor will try to analyze the performance of a company by evaluating the data produced in performing the various activities of the business. In older days, an audit comprised of systematic and regular checks to understand the present condition of the business […]
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 […]
The Government of the United Arab Emirates considers the people in the country as the people close to it and wants to take care of everyone. The UAE government has taken up to protect the citizen from any goods which can harm their health by levying taxes on them called the Excise Tax. These taxes […]
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 […]
