Liquidation is the winding-up of an organisation where the management sells all the assets of the business and distributes them among the shareholders of the company. The company liquidation typically occurs when a limited company has reached a point where for one reason or another, it has is decided by the board of directors and […]
Value Added Tax (VAT), considered an all-purpose utilization tax, is levied on the mainstream businesses in supplies/goods and services. It is advised to consult a VAT consultancy service in the UAE to pursue business within a legal framework. VAT Intimations on Corporations Companies involved in business or trade are accountable to carefully document certain features […]
A well-managed accounting is vital for real estate business. Working in real estate, whatever genre it is, means dealing with large sums of money regularly. The genres may be ranging from running a real estate agency employing commissioned salespeople, to managing a commercial or residential real estate for clients, to handling the accounts of a […]
On the 24th September 2017, the cabinet of the United Arab Emirates issued Decision number 36 on the Executive Regulation of Federal law number 7 of 2017. This decision deals with the tax procedures and the importance of various other provisions which include keeping accounting records and commercial books relating to tax purposes as well as […]
The UAE is one of the leading business hubs in the world. Accounting and bookkeeping services are of significant importance for any business firm irrespective of its size and demographics. Many businesses fail to survive the competition and thrive mainly due to two reasons. The inadequacy of- Timely or pivotal or accurate reports Confidential accounting […]
The importance of auditing can be overstated. A professional auditor not just clears all your issues, but also helps in improving your organisation. An auditor’s statement provides an opinion on the reliability and validity of a company’s financial statements. What is an Auditor’s Report? An auditor’s report is a written letter from the auditor containing […]
Payroll is a significant business expense and is subject to various procedures and regulations, so every business must ensure that the payroll process is 100% precise and reliable. Personnel need to be able to rely on being paid the correct and agreed amount and on a steady basis. Payroll affects every aspect of a company […]
There is a piece of good news for the businesses that are looking to set up a company in the United Arab Emirates. DP World, which is the owner of the Jebel Ali Free Zone, has reduced the cost of the license fee. These cuts relate to the Administration and the registration associated fees in […]
The United Arab Emirates is a league of seven emirates, with local governments and the autonomous emirate. When the countries like Libya, Syria, and Egypt were withstanding some severe turbulence, the federation of seven emirates was considered a safe playground for the investors since the beginning of this century. Businesses have grown seamlessly in the […]
In an announcement followed by the introduction of the VAT regime in the UAE, the Federal Tax Authority (FTA) revealed a list of suppliers across the country’s various sectors to be subject to VAT. In addition, FTA also disclosed the list of supplies that apply to zero-rated tax. Some of the government activities and supplies […]
