Tax recordings are one of the integral parts of the business that needs to be clear and error-free. Just like accounting and audit procedures, the tax records are scrutinized during an audit procedure, and any error in them will have a negative impact in the mind of the auditor, and ultimately affect the audit score. […]

A business entity is entitled to pay tax at the end of the financial year. The region of UAE has implemented the concept of VAT on 1st Jan 2018, wherein the business entities are entitled to pay the VAT at 5 percent. Now, many at times it becomes difficult for the business entities to cope up […]

The recent implementation of the Value Added Tax in the United Arab Emirates was a brilliant move on the part of the Government of the country. The application of this new tax will not only help the country in getting a new source of the fund but will also assist the company in acquiring new […]

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 […]

The United Arab Emirates understood that the country could not depend upon the revenue from a single source. Thus the Value Added Tax (VAT) was implemented all over the country from 1st January 2018. The new tax will not only help the economy of the country to obtain an original source of revenue but will also […]

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 […]

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 […]

Excise tax is a type of indirect tax that applies to specific goods like tobacco products, caffeinated drinks and also on sugary drinks. Such goods are generally harmful to human health and also to the surrounding environment. These goods are categorized as “excise goods” and the tax applied to it is referred to as the […]

The UAE Federal Tax Authority (FTA) has recently introduced a new feature on the portal for Tax registered persons which is to seek a “Tax Clearance Certificate” from the Authority. This feature will be available to a person as soon as he or she logs in to their respective portal. After logging into the portal […]

The world is drifting through innovation and most entrepreneurs have already set up their own businesses in the UAE. As a patriot or a businessman conducting business in UAE, one has the responsibility to adhere to the tax laws and regulations of that state by taking a tax registration number. Are you an entrepreneur yourself? […]