Economic Substance Regulations In The UAE
The regulations require UAE onshore and free zone companies and other UAE business forms that carry out any of the “ Relevant Activities†to maintain adequate economic pressure in the UAE relative to the activities they undertake. The Economic substance rules in UAE were introduced in April 2019, and businesses need to assess how they […]
Sheikh Mohammed Issues New Law on DMCC
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, on Sunday issued Law No. (3) of 2020 on the Dubai Multi Commodities Centre (DMCC). Established pursuant to Decision No. (4) of 2002, DMCC is dedicated to enhancing the flow of commodity trade through Dubai. […]
Common mistakes made by SMEs on VAT filings in UAE
It has been almost two years since the introduction of 5% VAT on goods and services. Since the taxation system has been introduced for the first time in the country, a number of smaller companies have been prone to making mistakes in filing their tax returns, thus attracting fines. Tax experts say poor planning, hiring […]
Facebook announces 5% VAT on ad services in UAE
Facebook announced a tax on one of their services in UAE this week. In a notice issued to users in UAE, the social media giant said that it was implementing value-added tax (VAT) on the sale of ads in UAE: Due to an implementation of a value-added tax (VAT) in the United Arab Emirates, Facebook […]
Feasibility Study
Feasibility Study: In this era of globalization, where every business competes with the other in order to attain and achieve huge amounts of profits and establish a better corporate image, it becomes really necessary that all the decisions are taken after due assessment of the factors that are capable of affecting the profitability as well […]
EXCISE TAX on sugar based product in UAE
Do you import, produce, stockpile, or release Sugar-Based Products? Have you registered for Excise Tax? As per the Cabinet Decision, no 52 of 2019, EXCISE TAX on sugar-based products will become effective from Dec 01, 2019. Therefore, any company involved in Trading, Importing, Producing or Stocking of such goods need to make Excise Tax registration […]
No Excise TAX on some products in UAE
Excise Tax is a form of indirect tax levied on specific goods. These goods are typically those that are harmful to human health or the environment. The objective behind the introduction of the excise tax in the UAE is to reduce their consumption so that it promotes a healthy lifestyle in the nation. Excise tax […]
The Free Zone Company Liquidators in UAE
There are several free zones that have been established all around UAE and there are special rules and regulations that govern these free zones. All the firms and businesses who wish to set up themselves in the free zones need to follow and adhere to all the regulations in the specific free zones. These […]
Dubai Police Audit Report
There are certain circumstances in filing criminal case in Dubai court relating to financial dispute that has technicalities that are beyond what the judge or arbitrators can grasp. Under such circumstances an expert is appointed to ensure impartial opinion on particular aspects of matters within his expertise which are in dispute before coming up with […]
Get To Know About Registered Auditors in DIFC
UAE is renowned for the great business opportunities it deals and the innumerable facilities the place offers to the businesses. Several free zones in the UAE offer diverse opportunities for business entrepreneurs to begin their company and business. All free zones are operated and directed by specific rules and regulations for the companies that are […]