A Small Guide For A Hassle-Free Audit In Dubai
Dubai has long been one of the most important business cities in the world, encouraging entrepreneurs, professionals, industrialists, & foreign investors to set up companies. As more businesses establish themselves in Dubai, the demand for accounting and auditing services has grown in tandem. These services are necessary for all businesses, regardless of their size or type. Furthermore, […]
Tips From UAE Accountants To Deal With Overdue Invoices
The UAE has one of the most dynamic business environments in the world. It’s a great place to do business, but at times it can be challenging, too. Businesses must adjust rapidly, particularly when presented with an issue such as past-due payments. The problem of unpaid bills is not uncommon in any country, but some […]
A Look at the Key Role & Responsibilities of Internal Auditors
An internal audit helps companies accomplish their goals by using a methodical, disciplined approach to assess, manage, and control risk and checking to ensure their adherence to laws and regulations. Internal auditing, in a nutshell, is the financial examination of a business. It may be verified whether the company’s assets have been correctly recorded & […]
Forensic Audit and Its Advantages
A forensic audit is a review of a company’s financial statements to obtain information that may be used in a court of law or legal procedure. Its principal goal is to punish anyone who is involved in fraud, misconduct, or corruption. It can also be used to reclaim public trust that has been degraded as […]
A Brief Guide to the Tax System in the UAE
The UAE is a free economy, which means that residents can live virtually tax-free. It has a remarkably people-friendly taxation policy. Therefore, the UAE is a very desirable location in terms of economic freedom, tax rate-to-payment ratio, ease of doing business in the UAE, and other factors. In addition, the UAE was named as one […]
What Is The TAX Group In UAE?
Two or more people operating companies in the UAE can apply for tax registration as a tax group in UAE. A tax group is the group of two or more individuals who may have enrolled as a single taxpayer with the FTA and are liable to the UAE VAT Law’s requirements. When a group of two […]
How to Amend VAT Registration in the UAE?
The government of the UAE has effectively implemented VAT regulations throughout the country. VAT (Value Added Tax) registration is required for all company activity in the United Arab Emirates. After VAT registration, you may need to make some modifications to your profile if your business encounters any changes in its details. So, it is your obligation to […]
Impact of World Expo 2020 on Dubai Financial Market
Dubai’s name has become synonymous with trade, tourism, innovation & cultural exchange, and its reputation precedes Expo 2020. Dubai, as one of the world’s fastest-growing cities, has already set numerous world records and achieved remarkable feats. Furthermore, the city’s world-class infrastructure, unique attractions, great hospitality, vibrant culture & business-friendly climate are all important assets that […]
Time Frame for Recovering Input Tax
The FTA has published a clarification to clarify the time frame within which a taxable person must recover input tax. In this Clarification, the FTA clarifies its stance on the interpretation of Article 55 of the VAT Law, as well as the time restriction for recovering input tax. This clarification also examines the options accessible […]
Which Accounting Standards Deal With Accounting For Fixed Assets In UAE?
Fixed assets are tangible or intangible assets owned by a company for use in its business activities. Tangible fixed assets have a physical form and can touch them, such as buildings, machinery, equipment, furniture, and fixtures. Intangible fixed assets are things like patents, goodwill, trademarks, and licenses. In the UAE, there are standards used by […]