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22 Oct 2021

What Is A Statutory Audit And What Are The Procedures Involved In It?

The main aim of conducting such an audit is to ensure that the financial records and information provided by the companies to the public are true and fair as it represents the financial position and performance of the company.

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Duties of An Auditor Under UAE-AML
19 Oct 2021

What Are The Duties of An Auditor Under UAE-AML?

It is important for the auditors to understand their obligations under UAE Anti Money Laundering Law because of the unique nature of their profession of evaluating the accounts of the clients, examining records, papers, control procedures and policies etc. with the help of which they can probably detect...

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16 Oct 2021

Forensic Audit And Its Advantages

The main objective of a forensic audit is to prosecute any party who is involved in fraud, malpractices, or any embezzlement. Forensic audits can also be conducted to regain public confidence which may be reduced due to false allegations imposed by other parties on the firm.

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08 Oct 2021

Vat Implications On Donations, Grants and Sponsorships

It is important to know the applicability of VAT and its respective implications to follow the required accounting and reporting procedures. Here we discuss the various aspects regarding that. Read to know more

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Vat Impact On Disbursements And Reimbursements
06 Oct 2021

Vat Impact On Disbursements And Reimbursements

To make it easy to interpret the related VAT provisions, FTA has explained in detail the VAT impact on disbursements and reimbursements in a public clarification statement, highlights of which are discussed below.

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VAT impact on change in the permitted use of building
17 Sep 2021

VAT Impact on Change in the Permitted Use of a Building, UAE

Supplies involving building, whether they be sales or leases, are one of the common types of business transactions in UAE mainly due to the prominence of the real estate sector in the region. Apart from the frequently encountered residential type of supplies, there are scenarios that involve a mixed natu...

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15 Sep 2021

VAT Obligations of Property Management Entities in Dubai

Dubai has always been in the forefront as distinguished for its economy rich in real estate investments and related business activities. Investors and owners of properties in this region also feel it very convenient to have the privilege of an organized and systematic way of getting the real estate trans...

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13 Sep 2021

Redetermination of Administrative Penalties

Recent amendments on administrative penalties as issued in April 2021, as ardently welcomed by the business enterprises, have for certain brought in major alleviation to many entities of the region. Apart from the significant reductions and relaxations instigated in some of the penalties, a procedure for...

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Medical equipment which can be zero rated
09 Sep 2021

Temporary VAT Rate of 0% For Medical Equipment in UAE

The current pandemic situation has impacted us all in a big way and the efforts made by the government of UAE to support the business enterprises here in various genres is noticeable. One of such attempts in the tax arena, which was the temporary zero rating on supplies and imports of certain medical equ...

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26 Aug 2021

What Are the Challenges Faced by the Payroll Accounting Team?

Payroll processing is one of the tedious tasks which are performed by every kind of businesses irrespective of their nature or size. It is not only a time consuming process but it is one of the most intricate processes. Mostly the firms allocate such processes to the HR department or the finance departme...

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Amendments to administrative penalties relating to UAE
23 Aug 2021

Amendments to Administrative Penalties Relating to UAE VAT

Similar to any other regulation, VAT law in UAE also consists of provisions for administrative penalties which will be levied against non-compliances of various specified natures. In the public clarification issued by FTA in April 2021, there were multiple changes introduced in terms of penalty amounts a...

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Impact of remote working process on accounting firms
16 Aug 2021

Challenges of Remote Working Processes for Accounting and Auditing Firms

Remote working process was in the picture even before the pandemic. Majority of accounting firms were adopting cloud based accounting systems and encouraging their staff and accountants to train themselves to work and perform their duties and tasks from any computer or device. Technological advancements...

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13 Aug 2021

VAT on Farmhouses and Farm lands in UAE

There are numerous farmhouses and farm lands in UAE, which are used for various commercial or non-commercial purposes including vacation rentals and staycation destinations. Investors or owners of farms need to know about the implication of VAT before making any decision on the supply of such properties....

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11 Aug 2021

VAT Treatment on Dividend Income

Dividend income is one of the major income streams for many in the region and there are also companies here which pay excellent dividends every year. Being a major contributor within the investment income, receiving the dividend income and accounting it properly as per the applicable laws, will be of con...

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What Information Must be Included in Your Tax Invoice
27 Jul 2021

What Information Must be Included in Your Tax Invoice In UAE?

Tax Invoice is the quintessential record issued by a VAT-registered person to the recipient when a taxable supply of goods or services is done.  Article 59 of the Executive Regulations on VAT directs the requisites for a Tax invoice and when it must be issued. A tax invoice must include certain impo...

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23 Jul 2021

VAT Adjustment Relating to Bad Debt Relief

There can be many scenarios in the business, where a supplier has to opt for a write off of a receivable amount from a customer for which VAT has already been paid to FTA. In such circumstances as the write off amount including applicable VAT hits the accounts of the supplier as an expense, there is an o...

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Budget and Forecast for Your Small Business Effectively
15 Jul 2021

How to Budget and Forecast for Your Small Business Effectively?

Many times it is observed that small businesses try to avoid or underestimate budgeting and forecasting processes as it involves huge costs. They rely upon opinions and guess work instead of conducting a systematic forecasting. But in reality the business is exposed to huge risk of uncertainties without...

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VAT Treatment of Options and Option Premiums
12 Jul 2021

VAT Treatment of Options and Option Premiums

Options are often found to be part of financial management and investment decisions by entities in the modern business world. There are frequent transactions involving Options in large organizations, where it is essential to know about the VAT implications and related monetary impact to apply the right t...

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09 Jul 2021

VAT on Transfer of Business as a Going Concern

Many times, transactions that involve transfer of business from one party to another happen in the interest of investment opportunities and it is crucial to know about the VAT implications to ensure compliance and to plan the deals properly. FTA has published a clarification document exclusively to expla...

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07 Jul 2021

How to Restructure Your Business to Increase Profits During the Pandemic?

Given the amount of unprecedented changes that the world has experienced in 2020 a lot of firms are forced to change, they are forced into some sort of transformation whether they like it or not and along with that comes restructuring more often. Many companies during the pandemic recognized that they we...

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Anti-Money Laundering terms
24 Jun 2021

Important Anti-Money Laundering Terms

In recent years financial industries and non-financial industries have been facing one of the major problems relating to money laundering and terrorist funding.  All the nations, associations and companies are putting all their efforts to combat these challenges by introducing and complying with rel...

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Prevent your business from financial crimes
21 Jun 2021

How To Prevent Your Business From Financial Crimes?

Financial crimes have been one of the pivotal issues in the global arena for several decades. It is always a cat-mouse game between the authorities and the criminals as authorities are constantly trying to detect and prevent the financial crimes in the firm

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How can you avoid payroll fraud in your firm
17 Jun 2021

How can you avoid payroll fraud in your firm?

Emily was Dr. Watson's office manager who was with him for 20 years, and he always considered her as a life saver because she dealt with all the administration and bookkeeping responsibilities which helped him to focus on his profession and provide service to the people peacefully. After some time Emily...

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VAT refund for business visitors in UAE
14 Jun 2021

VAT refund for business visitors in UAE

The UAE Federal Tax Authority (FTA) had made available a convenient VAT refund facility for business visitors in UAE from foreign countries. The authority recently published in April 2021 an updated version of the guide for this VAT refund scheme for business visitors. In this updated VAT guide from FTA,...

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Business Valuation and Its Key Market Drivers
10 Jun 2021

Business Valuation and Its Key Market Drivers

Business valuation is a subject that is of interest to a wide range of stakeholders especially, the investors. The process of business valuation can sometimes be challenging when too many uncertain factors are involved. Nevertheless, it stays as a distinguished tool to draft and make informed investment...

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Blockchain technology and its impact on accounting and auditing
29 May 2021

Impact of Blockchain Technology on Accounting and Auditing

Any new technological opportunities have been perceived as challenges initially and the blockchain led solutions are also not different. Opening more scope for advisory services in its developing stage, the new perspectives that have been brought about by this digital transformation are enormous and yet...

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Implications of IFRS
25 May 2021

Implications of IFRS 16

Lease accounting drew more puzzlement and uncertainty as the new IFRS 16 replaced the existing accounting standard IAS 17 in the year 2019. Though most of the entities have now completed the transition as required by the standard, accountants across the industries often face many challenges in applying I...

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Accounting for Cryptographic Assets in UAE
18 May 2021

A Guide to Accounting for Cryptographic Assets in UAE

Cryptographic assets, especially bitcoins are getting lots of attention and interests recently among investors across the globe. Even in UAE, there are more and more exchange platforms getting established to facilitate the trading of cryptographic assets. The subject of Cryptographic assets is very new t...

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Zero-rating on Export Services in UAE
14 May 2021

All About Zero-rating on Export Services in UAE

Zero rating on export services means that the services which are rendered or exported outside the UAE are charged VAT at ZERO rate i.e. the supplier doesn’t have to pay output tax on the export of services and the registered entities can reclaim the input tax on the services provided by them. If you make...

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Internal Controls Over Financial Reporting
12 May 2021

Everything About Internal Controls Over Financial Reporting/ICFR

More than a compliance requirement, ICFR engagements are being recognized and seen as opportunities to enhance the efficiency and effectiveness of the operating models by the companies, uplifting themselves to the global leading practices. Indeed, the regulators across the globe have been increasing the...

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IFRS 9 Assessment during pandemic period
10 May 2021

IFRS 9 Assessment during pandemic period

IFRS 9 has been perceived as one of the complex financial reporting standards, considering the fact that many companies still face challenges in updating the assessments even after completing three reporting years, since the requirements of the standard became effective and mandatory. Also, it is apparen...

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goAML Platform
27 Apr 2021

Everything about UAE goAML Platform

Introduction of goAML platform has been considered as one of the major regulatory strides in the fight against money laundering and terrorist funding. Based on the national risk assessment conducted in UAE and the enforcement of AML (Anti-Money Laundering) /CFT (Countering Financing of Terrorism) legisla...

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Top Accounting Challenges Faced by Corporate
26 Apr 2021

Top Accounting Challenges Faced by Corporates

Rapid innovation in the field of accounting has made accounting tasks simpler and less burdensome. The updates made in accounting systems enabled the companies to get professionalized services at low costs. In the present scenario accounting is both a complex as well as a simple task. Various companies a...

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22 Apr 2021

How To Find The Right Tax Advisor For Your Business In Dubai?

A tax advisor is a person who has complete knowledge about the tax laws prevailing in the state and helps its clients to file tax returns on time. He always ensures that the firms or clients always adhere with the tax laws and manages to pay the taxes on due time. A competent and qualified tax advisor pr...

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Online Accounting
20 Apr 2021

How Does Online Accounting Save Time?

Time is the wisest counselor of all. It is the most important element of all the business activities; every individual tries to use it in an efficient and productive manner. Every business adopts all the available strategies and technologies to save their precious time. And when it comes to accounti...

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15 Apr 2021

Changes to reporting on Ultimate Beneficial Owner

For companies of UAE mainland and free zones, the regulatory requirement became effective in 2020 for updating details relating to Ultimate Beneficial Owner (UBO) in the designated registers and portals in order to be made available for reference to the public. Notifications were being issued by several...

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12 Apr 2021

Ways to Monitor Financial Growth of a Company

Auditors are the entities who strictly check the working of a company, and ensure whether they comply with the rules and regulations of the state and follow all the required procedures while performing the business activities. They conduct investigation, attestation, reporting processes and communicate t...

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08 Apr 2021

How does VAT affect commercial real estate transactions?

Real estate development and supply of properties by way of leasing out or sale of properties is one of the prime business segments in UAE. The overall economic growth and emerging investment opportunities in the region drive the demand here for real estate properties, especially the commercial real estat...

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31 Mar 2021

When should internal audits be done for your business

Whenever you feel weak or ill, you approach a doctor for a health checkup, and the doctor examines your whole body to find out the reason for the weakness or illness. Similarly when your business undergoes any challenging circumstances, it needs to be evaluated to find out the faults, this process is ref...

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29 Mar 2021

What is meant by cost audit?

Cost audit refers to the complete verification of the cost records, statements and data. It also ensures whether the cost accounting is carried out according to the prescribed cost accounting procedures and plan. It keeps a check on all the cost reports and statements, to avoid any mistake, fraud or any...

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26 Mar 2021

VAT on Artists and Social Media Influencers

As the social media platforms are getting more and more audiences these days, there has been a significant increase in the professionals who recognize themselves as artists or influencers. With the far reaching attention that they have, such artists or influencers now play an inevitable role in promotion...

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23 Mar 2021

Insights on Robotic Process Automation in UAE

Robotic Process Automation has now been transpired and endorsed as a revolutionary initiative in various business platforms of UAE. While digital transformation has subjugated every aspect of our lives here, its sways over the business world is also discernable. If you are evaluating the possibilities of...

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20 Mar 2021

Reclaiming VAT on Expenses in UAE

The process of reclaiming VAT expenses or input VAT recovery is one of the crucial aspects in the VAT governance of an entity which can have substantial impact on the cash flows and working capital of the business. Understanding the various elements with respect to reclaiming VAT expenses will give an aw...

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17 Mar 2021

All You Need to Know About VAT Deregistration in UAE

There can be various circumstances under which a registered VAT entity becomes eligible for cancellation of its VAT registration. Similar to VAT registration procedures, the regulation for UAE VAT has provided the details of procedures to be followed in the cases of VAT Deregistration. Here we discuss th...

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10 Mar 2021

Deemed Supplies Under UAE VAT Law

Suppliers often engage in promotional activities and offerings to customers for attracting more business. It is important for them to be aware of the applicability and impact of deemed supplies, to go by the VAT accounting and reporting rules. The UAE VAT regulation includes specific cues to check on the...

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22 Feb 2021

Insights on VAT Voluntary Disclosure in UAE

Errors or omissions in a submitted VAT return is possible and they can be identified in a later stage which arises concerns for any available chances of their rectification then. FTA has allowed an option of voluntary VAT disclosure for tax payers to amend the amounts of a previously filed return. Though...

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18 Feb 2021

Possibilities to change the VAT return filing period in UAE

Filing VAT return is one of the key activities within the tax function of any organization. The return filing period as assigned to each taxable person has a significant impact on the processes involved in successful preparation and submission of the return on time.

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15 Feb 2021

Insights on Zero Rated and Standard Rate VAT on Healthcare Industry

VAT services in health care industry include a variety of separate transactions which have different tax treatments for themselves based on the nature of the services and parties involved. A general statement that ‘all healthcare services are zero rated’ is not possible considering the various aspects fo...

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11 Feb 2021

Concept of VAT Free Sale in UAE

We often notice that competitive market situations urge the retailers to come up with various sales promotion strategies such as “VAT free sales”, “VAT on us” etc. to attract more customers. It is the responsibility of the sellers to make sure that these business development activities are in line with t...

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08 Feb 2021

Insights on Commercial Activities Certificate under UAE VAT Law

The Federal Tax Authority (FTA) has recently started issuing the tax-related certificates including commercial activities certificates which were previously issued by the Ministry of Finance, UAE. Since FTA has all the details of the VAT registered individuals and corporates, this change has made the pro...

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06 Feb 2021

VAT Registration of Sole Establishment in UAE

Natural persons having different business establishments can follow the provisions of sole establishments under UAE VAT law to optimize their time and efforts in completing the tax-related functions. FTA has published specific guidance with respect to sole establishments which is further discussed in det...

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20 Jan 2021

Why is fixed asset important for a business in UAE?

It refers to all the assets which are owned by the company and use it to generate revenue. These are not meant to be sold within a financial year, instead, these are utilized for a longer period of time. These assets are the core part of a company which is to be maintained very well to generate sufficien...

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18 Jan 2021

Benefits of Accounting in the Hospitality Industry

Accounting plays a vital role in every sector; it is a process through which every individual can analyze his expenses, revenue, profit, loss, assets or liabilities. Every institution which deals with cash needs a systematic accounting facility to record all the transactions. The hospitality industry als...

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15 Jan 2021

Benefits of getting tax residency certificate in UAE

UAE has signed the Double Taxation Avoidance Agreement with many countries across the world. In this context, tax residence certificates are used widely to get the benefit from these agreements with other countries. Here we discuss mainly the inference of tax residency certificate for individuals in UAE.

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13 Jan 2021

Rebate Calculation and VAT Implications of Rebate for Customers

Rebates or discounts are the concessions that suppliers offer as part of their sales and marketing strategies to attract customers. These are always considered as among the appealing factors in the gamut of shopping experiences for any customer for that matter.  As these are part of regular business...

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11 Jan 2021

VAT Impact on Banking Transactions in UAE

Banks in UAE charge VAT on their certain services as applicable at a standard rate of 5%. As an account holder, it is important to know about those taxable services, in order to manage the expenses, to record them properly and to claim for input tax recovery, if possible. Here we discuss the implications...

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08 Jan 2021

Are all expenses relating to building a residence by UAE nationals eligible for input...

Along with the provisions of tax rules in UAE, FTA has included some relaxations and refund schemes for certain transactions by eligible individuals. Tax refund scheme for construction of residence is one of them.

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05 Jan 2021

VAT refund for building new residences by UAE nationals

FTA has issued specific guidelines to facilitate the UAE nationals to obtain refund of VAT incurred by them on building new residence. Such refunds are processed by the authority after a process of thorough verification of details submitted by the applicant. It is to be noted that the refund option is av...

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28 Dec 2020

Points to be noted while making FTA payment

All taxable persons in UAE are mandatorily required to file the VAT return on a timely basis as stipulated by FTA and make the payments due if any to FTA within the prescribed time period. FTA has issued guidance regarding the process of making tax payments and the taxable persons shall be aware of the s...

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23 Dec 2020

Conditions for Retailers to Participate and Register Under Tax Refund Scheme for Touri...

The Federal Tax Authority (FTA) in UAE has implemented the tax refund scheme for the convenience of the tourists visiting UAE. This has been a remarkable initiative in line with the continuous efforts by the UAE government to promote the trading activities and for the development of tourism in the countr...

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21 Dec 2020

Tax Refund for Tourists in UAE

Following the introduction of VAT in UAE, FTA has made the tax refund possible for the tourists with the help of an integrated electronic framework. To make your shopping experience in UAE much enjoyable, the entire process of tax refund is facilitated in a convenient and prompt way which is discussed be...

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19 Dec 2020

Financial Feasibility Study of Net Present Value and Internal Rate of Return

NPV and IRR are terms regularly used in the world of financial management and they play a crucial role in the allocation of available funds in a way to obtain optimum results. Financial feasibility study helps you assess the success or failure probability of your business. Here we discuss in detail the c...

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18 Dec 2020

Oman's Withholding Tax Explained

As effective from 2010, direct taxes in Oman mainly compose of Corporate Income Tax and withholding tax. There are companies in UAE having routine transactions with their counterparties in Oman and it is important for them to know about the tax implications and provisions relating to withholding tax in O...

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10 Dec 2020

How Accounting Services Can Decrease Unpaid Invoices?

Overdue invoice refers to the amount that a company should receive or pay to its clients or customers, which is already delayed or failed to make the payment within the due date and should be cleared as soon as possible. If a client purchases any product or gets any service then, the company rendering se...

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08 Dec 2020

Claim Refund of Value Added Tax Paid on Goods and Services

UAE VAT law stipulates specific steps to be followed by Expo 2020 participants with respect to their claim for any VAT refund on expenses incurred by them during their participation in the exhibition. The participants should consider the various aspects of VAT in UAE for effective tax planning and compli...

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05 Dec 2020

Reason Why Expo 2020 Participants Need Proper Accounting Support

Along with the preparations for their participation in the Expo 2020, the official participants of the Expo shall give due care in maintaining proper accounting records for their activities. Here we discuss various aspects and challenges relating to the accounting function of Expo 2020 participants.

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04 Dec 2020

The Impact of Tax on Expo 2020 Dubai

Considering the fact that the EXPO 2020 dates are approaching, the entities involved in the global exhibition in their various capacities are expected to assess their tax responsibilities and ensure compliance with the VAT in UAE.

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02 Dec 2020

IFRS 15 - Implementation in Financial Statements

Implementation of IFRS 15 - ‘Revenue from Contracts with Customers’, sometimes can involve lengthy deliberations in companies which handle multiple products or services. A detailed review of revenue generating transactions and agreements with customers is always recommended to ensure compliance with the...

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27 Nov 2020

Implications of ECL Calculation Under IFRS 9

Most of the companies face difficulties in developing and updating the ECL (expected credit losses) calculation models, especially at these uncertain economic times where finding reliable information is challenging. Implementation of IFRS 9 mandates the proper calculation, accounting and disclosure of ex...

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26 Nov 2020

The Role of Corporate Governance and Effective Internal Controls in the Existence of B...

In view of various accounting frauds that have been coming to light, establishment of a good governance framework is a decisive need of the hour in the corporate world and the same has been brought in as a regulatory requirement in many countries. The ultimate responsibility for establishment of an effec...

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24 Nov 2020

Circumstances Leading to FTA Tax Audit in UAE

There can be so many possible circumstances that can drive into a tax audit of a business entity by FTA. Here we discuss a few major factors among them, which can potentially lead to a tax audit. It is to be noted that the proper functioning of tax related activities in a company is one of the fundamenta...

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23 Nov 2020

Understanding UAE VAT Recoverable Input Tax

The possibilities of input VAT recovery is implied within the name of the tax itself which is “Value-Added Tax”. The ultimate tax impact to the companies is supposed to limit to the extent of their part of value addition involved in their respective stage of the supply chain and thereby companies can rec...

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16 Nov 2020

Transfer Pricing in Multinational Companies

Have you ever thought about a transfer pricing system? As the process trend continues, transfer pricing problems still be a key focus for multinational companies. Establishing transfer pricing tax ways permits multinational companies to optimize operations, whereas at an equivalent time ensuring complian...

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13 Nov 2020

All You Need To Know About Tax Registration Exemption for Companies Operating in UAE

It is important to be aware of the tax registration rules in UAE, for any business entity in the region to take care of its tax-related responsibilities as mandated by the regulator and also to efficiently plan its resources and cash flows. Especially if you are thinking of starting a business entity in...

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12 Nov 2020

What are the VAT Implications on Transactions in Marine Sector?

Mainly due to its geographical standing and the proximity to sea waters, UAE has been destined to witness business transactions relating to shipping and vessel management in an extensive way. It is crucial to note that the tax treatments on each of those transactions in the marine sector may differ based...

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10 Nov 2020

VAT Guide on Goods Supplied Within a Designated Zone in UAE

Once you incorporate a legal business entity in a Designated Zone of UAE, which is a qualified Free Zone, there falls a responsibility to apply correct VAT practices. There are so many misconceptions over the applicability of VAT and tax treatments on the context of business transactions within a Designa...

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09 Nov 2020

Impact of UAE VAT on Designated Zone Company Operations

Planning to open an import/export business in the UAE? Designated Zones let you save in several areas including taxes. The Designated Zone is a VAT-free zone which is supposed to be outside the State of UAE for the scope of VAT. Hence, VAT will not be levied on any transfer of goods between Designated Zo...

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07 Nov 2020

Understanding UAE VAT Reverse Charge Mechanism

Reverse charge mechanism has been always hashed out as one of the distinguishing practices embedded in UAE VAT law. It is such a vital piece of the ruling especially for the entities engaged in import transactions to study the features and implications of this particular regulatory provision in UAE.

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06 Nov 2020

The Significance of Management Information System in Advanced Business Environment

Do you want to know how to make business more efficient, effective and competitive? Is it possible to work on global problems with people from all over the world? Yes!!!!Management Information System (MIS), an innovative, cutting-edge technology solution which created a dramatic change in organizations o...

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03 Nov 2020

The Value of Benchmarking in Business Hub

Nowadays organisations are running towards to satisfy their aspiring targets and emphasis on reaching their ultimate goal. It not only deviates them from the focused path but also diverges the thirst of observing and learning, which are an inevitable element of the business services. The most effective w...

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30 Oct 2020

Benefits of Outsourcing Restaurant Accounting Services

Are you a restaurateur? Day by day, the ambition of the restaurant has been striking to hike. Food industry is a game of capability where they have to deliver the consistency and quality that diners expect. It is imperative that restaurant homeowners boost the performance of their operations by reducing...

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29 Oct 2020

The Importance of Strategic Management Accounting in Decision Making

Whether the adoption of strategic management accounting contributes to decision making? Let’s take a look!! In the current business scenario, organizations are experiencing greater challenges, increased complexity, and changes within the global economy, increased competition and rapid diffusion of data....

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28 Oct 2020

UAE Cabinet Decision Regulating the Ultimate Beneficial Owner Procedures (UBO) 2020

Dubai introduces many welcomed resolutions to take care of UAE’s position as a world-leading trade hub, it enhances the economic stimulus of the state towards transparent business functioning. UBO (Ultimate Beneficial Owner) Cabinet Resolution No. (58) of 2020 is the latest resolution introduced by UAE i...

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27 Oct 2020

Implications of Registration as a Tax Group in UAE

It is indeed another progressive element to note that, as part of adopting the global best practices, FTA has included the facets of tax group also into the fast-evolving niche of VAT in UAE. Two or more persons conducting businesses may apply for tax registration as a tax group in UAE. Taking into accou...

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23 Oct 2020

VAT Implications When Agent Imports Goods on Behalf of VAT Registered Persons in UAE

With its advancement in logistics facilities and easy access across the world, UAE has been a focal point for the trading transactions in the Middle East. Also, the favourable efforts from the UAE government have played a decisive role to support the exports and imports by the companies in a controlled e...

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22 Oct 2020

Value Added Tax on E-commerce Transactions

E-commerce has been sustained as one of the favourable turnouts from advancement in technology all over the world. Apparently, the comfort and convenience offered by many vibrant virtual markets have highly changed the expectations and choices of the customers. Also as it can be seen, the recent pandemic...

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21 Oct 2020

Value Added Tax in UAE and Tax Refund Scheme for Initial Set Up Cost of Expo Pavilions

Expo 2020 hosting vibes have been waving around all across Dubai for a long time now. The region is getting prepared for this most awaited event that is coming up with much eagerness. When the participating countries are actively busy putting up their exhibition spaces, it is extremely important to be aw...

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19 Oct 2020

Why You Should Outsource Payroll Services

Payroll can be referred to as the number of employees getting paid by their employer for the work they carry out. It is also related to the tasks involved in paying the employees such as calculating the tax, deducting it, making federal contributions such as in different insurance policies etc.  It...

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17 Oct 2020

The Role of Accountants in Law Firms

Do you know about the accountant’s role as monetary interpreter or advisor in law firms? Since lawyers are not accountants, there must be an accounting department to handle the accounts. While many small businesses can handle the books themselves and get away with hiring a part-time bookkeeper, your busi...

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15 Oct 2020

The Impact of Technology Advancement in Decision Making

Does the technology influence decision make of top-level management? Today, the business environment is changing ever faster and organizations must be more responsive to it. Companies want to be flexible, compensation schemes and control mechanisms are rigid. With the help of technology, managers will be...

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13 Oct 2020

Importance of Freelance Bookkeeping Services in UAE

Are you a freelancer or solopreneur? Do you need a strategic plan for attaining your financial objectives? No matter the dimensions of your start-up, you can enjoy the benefits of employing a firm that helps to organize your finance. When you’re a solopreneur you’re liable for not so thrilling business o...

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09 Oct 2020

Certificate of Entitlement for Expo 2020 Dubai

Ever since the announcement in the year 2013 on the hosting location, Dubai has been eagerly looking forward to welcoming the Global exhibition in 2020. To add on to one of the pandemic impacts, the event has been postponed to start by October 2021. In spite of the rescheduling to the year 2021, the auth...

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07 Oct 2020

How Income Under CIGAs Is Treated By Companies

What are CIGAs? How income under CIGAs is treated are some of the recent queries received from the business owners since the ESR implemented in UAE. Before answering these queries, you should be aware of ESR regulations and examine if any UAE entities are within the scope of the economic substance requir...

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05 Oct 2020

Proper Bookkeeping in Times of COVID-19

Are you struggling to balance your business transactions during this pandemic? For many businesses, small and large, the measures taken to reduce the spread of the pandemic have led to shifting workplaces, declining revenues and, in some cases, workforce reductions, among other effects of varying scale....

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01 Oct 2020

Benefits and Challenges of Adopting IFRS in UAE

Is IFRS an inevitable concept in Emirates? prior to beginning the pros and cons of IFRS let us assess it. Conceptual framework of IFRS is an asset of theoretical principles that underlie the preparation and presentation of financial statements. In the absence of the accounting standards, it is more likel...

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30 Sep 2020

Advantages of Registered Auditors in UAE

In UAE, an audit is a very extensive and complex task as it is mandatory for the companies to be audited annually. An audit is the independent examination of the financial report of an organisation by a third-party. The purpose of an audit is to form a true and fair view of the financial reports presente...

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23 Sep 2020

How a Tax Consultant Can Save Business Money

Before analyzing the role of a tax consultant let us examine who is a tax consultant, and what does he do for a firm? A tax consultant is a person who looks after all the business transactions regarding the payment of tax and tries to minimize those payments abiding by the laws and regulations. He must h...

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21 Sep 2020

Accounting Considerations for Oil and Gas Companies

Do you know, oil and gas industry has contributed high revenues to UAE national economy as well as high per capita income. The resources from the oil and gas sector are invested in other industries. Thus, the oil and gas sector in the UAE contributes to the well-developed infrastructure and attracts fore...

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19 Sep 2020

The Effect of VAT on UAE Free Zones in 2020

Free Zone is a trade Zone, designed to market the international business in UAE by providing 100% foreign enterprise ownership. Free Zones offer attractive incentives like no requirement for a UAE national as an area partner/shareholder, tax exemptions on duties and taxes like Corporate, income Tax, all...

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16 Sep 2020

How to Choose a VAT Return Filing Consultant

To remain on the safe side of the VAT law, one must get the simplest VAT firms in Dubai to assist with filing the returns. Today, we shall check out what to think about when hiring a VAT firm in Dubai. The implementation of the Value Added Tax within the United Arab Emirates may be a reasonably new chang...

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14 Sep 2020

Managing Cash Flow During Business Expansion

Have you ever dreamt about expanding your business? Business growth and expansion is a big dream of the small business owner or start-up entrepreneur, who wants to take his company to the subsequent level. All multinational corporations that we see today began as a small local business, which grew and ex...

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10 Sep 2020

VAT Implications for the Healthcare Sector in UAE

The UAE healthcare authorities focus on providing high-quality healthcare services to all the residents that contribute to their better living. As a result, UAE has made the majority of the healthcare services subject to zero-rated VAT. There are also healthcare services that are 5% standard rated. Healt...

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07 Sep 2020

Top 5 Benefits of Outsourcing Accounting Services

Being a business owner, you need to keep an eye fixed on everything. Being liable for your company’s success and ensuring everything happens as you've got envisioned may be a tough job that you simply had best. But there's one specific area that ought to be an equivalent for all companies, something that...

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03 Sep 2020

Impact of Bad Debts on Businesses

Most companies have long term plans to expand their businesses but don't have the acceptable funds to ascertain these plans through. Under such circumstances, the corporation chooses loans or borrow money from various other sources to fulfil their plans. Off late, debt is considered as a fundamental part...

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01 Sep 2020

All You Need to Know About Tax Audit in UAE

Taxes are significant for the rustic functioning of an organization. The revenue from taxes is the continuing source for the growth and development of the country. Thus, a rustic organization must periodically conduct a tax audit for the varied businesses within the business environment. The tax audit he...

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28 Aug 2020

What‌ ‌are‌ ‌the‌ ‌Advantages‌ ‌of‌ ‌Cash‌ ‌Flow‌ ‌Forecasting?

Every business, at any time, has the possibility of falling victim to cash flow issues. It could be a case of late payments or any issue of oversupplying for low demand, within which any business problems of cash flow could occur. A reliable source states that almost 90% of the failures in business are d...

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26 Aug 2020

Amendments in International Financial Reporting Standards

Before discussing what the amendments to IFRS 16 Leases are, what exactly does this IFRS relate to? Mainly, the IFRS explains how to recognize, measure and disclose leases. It provides a single lessee accounting model for all leases unless the lease term is 12 months or less or the underlying asset has a...

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24 Aug 2020

Why Data Analytics is Important for Internal Audit?

As we are living in a data-driven world it's very essential to adapt to the mundane of technology. Internal audit with the help of analytics helps to ensure the effectiveness of risk management and compliance processes. Integrating and properly embedding data analytics into internal audit approaches the...

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19 Aug 2020

CFO Cash Flow Management During a Period of Crisis

The COVID-19 outbreak is causing widespread concern across the world, many companies are striving to module proactive measures like stress tests to tackle the unprecedented supply chain disruption and risks. During this recession looming time, cash and liquidity are paramount for the business. Operating...

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17 Aug 2020

Removing a member from Tax Group

As you know the tax system is one of the strongest assets of the UAE Federal Government, it was implemented to improve the standard of living and services. The VAT group registration is when two or more persons conducting businesses may apply for a single taxable person as a tax group. A company can get...

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14 Aug 2020

Outsourced Accounting Services in UAE During Post Pandemic Period

Yes, we vouch you for the best outsourced accounting services. When the novel coronavirus outbreak arrived in UAE, most of the enterprises found it as challenging and depriving. Businesses were forced to shut office spaces and terminate their services with poor cash flow. This has been especially problem...

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12 Aug 2020

Importance of Financial Advisor During Post Pandemic Situation

As the world is going through the pandemic crisis the financial uncertainty in the economy badly affected the business functioning. Which adversely impacted the business and investor community across the planet. It has shuttered businesses and disrupted supply chains around the globe, forcing companies t...

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10 Aug 2020

ESR Implementation: Its Major Impacts and Benefits on Businesses in UAE

As long as the time runs for doing ESR Compliances it's knocking at the doorsteps of businesses, it might be prudent for the companies in UAE to start out getting ESR Impact Assessment. To measure the impact a brief study on ESR is an inevitable part. UAE Economic Substance Regulations (ESR) was introduc...

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07 Aug 2020

Is it Mandatory to Maintain Books of Accounts for Businesses in UAE?

Yes, Maintaining the books of accounts and necessary supporting relevant records of businesses are highly essential requirements for efficient management and control of the business operations. This may facilitate the right receipt and payment of money and other transactions entered by the corporate. Hen...

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05 Aug 2020

Accounting Software for SMEs in UAE

Is accounting software typically used in a mid-sized enterprise? Yes, Accounting Software plays a key role in the expansion of a business in UAE where it handles and provides complete information about your business financials. The right accounting software helps to manage the income and provides real-ti...

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03 Aug 2020

Importance of Financial Statements for Business

A company's financial statements provide vital information about its financial health. Financial Statements accurately reflect business performance and financial position of the corporate. Additionally, it helps all stakeholders including management, investors, securities analysts etc. to gauge and take...

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29 Jul 2020

Profit Margin Scheme under VAT in UAE

The profit margin scheme is a way of VAT calculation certainly on a product and services. Beneath this theme, you'll calculate VAT supported the ratio rather than the whole worth of the sale. This theme was introduced to avoid double taxation on the second-hand product. The merchandise eligible for the p...

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27 Jul 2020

Why Vendor Due Diligence in UAE is Important?

Almost like customer due diligence, a vendor due diligence in UAE is vital because it provides reassurance for the potential buyer that the prospect for the transaction is healthy financial-wise. So as to conduct vendor due diligence in UAE properly, a business has got to understand all the sorts of data...

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24 Jul 2020

Auditing of a Partnership Business

As we all know, the disputes among the partners are common and often lead to loss. In every firm audit is a compulsory one. There are many advantages of getting the accounts; audited, nowadays many firms make a provision for audit in their Partnership Deed. In partnership firms, the accounts are audited...

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22 Jul 2020

Changing Roles and Responsibilities of Modern CFO

As you know, amidst this business revolutionary era the CFO roles are changing. It’s becoming more focused on strategy, value and future. But the role in the service and utility sector is changing faster than the most. The ambit of the service sector is being reshaped by the general transformation that's...

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20 Jul 2020

Audit Report - Basic, Types, Contents

Nowadays opinions matter a lot, one such opinion in a statement is an Audit report. An audit report is the end product of the audit process, a mode of communication on the output results of the audit work. It acts as the written opinion of the auditor relating to the company’s financial statements. It ce...

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17 Jul 2020

Accounting‌ ‌Errors‌ ‌Commonly‌ ‌Made‌ ‌by‌ ‌Construction‌ ‌Companies

Running a construction company and want to avoid the common accounting‌ errors committed by construction‌ firms? Yes, Construction is a growing industry in the United Arab Emirates, the growth of which is measured by its project efficiency and the time taken to complete a project. In most of the cases, a...

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15 Jul 2020

Role of Accounting in IT Business

The IT industry in Dubai is an ever booming sector. Information Technology firms in Dubai are already making a big mark on a global level by employing a large number of techies from around the world. Dubai is focusing on hosting many global level technical events that will increase the participation of i...

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13 Jul 2020

Business Valuation Services in Dubai

Each time the management of the company dreams to maximise the company’s worth and shareholders wealth. If you ever commit to get a brand-new business or sell associate, the primary and foremost issue you wish to try and do is to seek out the worth of the business. It’s conjointly applicable to grasp the...

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10 Jul 2020

The Ultimate Guide to UAE VAT Administrative Exceptions

The recent guidelines on UAE VAT Administrative Exceptions indicate that the economic scenario is changing from time to time, complying with VAT rules. You may face some complexities and challenges to get fully compliant with VAT law. These challenges can be related with sorting of tax invoices of the su...

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08 Jul 2020

The Ultimate Guide to Real Estate Accounting

How useful is real estate accounting? As we all know the Real Estate industry is one of the booming sectors for the United Arab Emirates. As stated by the Khaleej Times, in 2019, more than 35,000 residential units were completed, and that has marked the highest number delivered in a single year in Dubai....

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06 Jul 2020

Restaurant Accounting Tips to Manage Your Finance

Effective accounting is equally essential as having a good chef to run your restaurant successfully. After all, one of the most important parts of travelling to a foreign country is to indulge in local and global cuisine. Setting up a restaurant instil food safety standards and it is equally important to...

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04 Jul 2020

Input VAT Recovery on Expenses in Dubai

You may be interested to know the various VAT recovery expenses for your tax planning. The thought of VAT payments itself pulldown the head. If you often get confused about the VAT treatment in business check it out here you will find something new on the VAT recovery expenses while tax planning. The bes...

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02 Jul 2020

Tax Consultant in UAE for Business Growth

Why companies require tax consultants in the UAE? A tax consultant can help the individuals as well as business concerns to advise on the taxability of transactions and to ensure that the business is complying with the UAE VAT Laws. The tax regimes vary from country to country along with the complexities...

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29 Jun 2020

VAT Penalties in UAE

Is your company prepared for the UAE VAT? As a small word tax often strikes a little bit of fear in the minds of people and creates a dilemma regarding the tax to be paid from the point of origin- point of consumption. So herewith sharing the views, concepts and ideas behind the UAE Vat penalties in ligh...

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26 Jun 2020

Benefits of Using Virtual CFO Services

Is your business thriving to survive? Are you in need of someone who keeps an eye on your cash flow? All these questions can prevail in your mind but remember apart from accounting there are other aspects which help in ticking over your business as life support. Sometimes the business owners are forced t...

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24 Jun 2020

EXCISE TAX IN UAE

Nowadays, there are countless pieces of queries on the excise tax and its calculation. The frequent enquiries regarding excise tax in the UAE put forward includes: how to register for excise tax? How to get prepared for excise tax? And how to make sure your business is 100% compliant with UAE excise tax?...

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22 Jun 2020

Needs for Financial Restructuring in Business

Sometimes your company shows a creep due to the dynamic economic situation in the market. These issues grow and make the company go through a situation that never saw coming and hitting its flow. Simply hoping that these issues get fixed by themselves, helps to see the company crumble from it. Financial...

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18 Jun 2020

How do Internal Auditors add value to the business

Have you ever thought of how internal auditing is a value-adding component to an organization? You might know that internal audit is conducted by the internal bodies of an organization to verify the accuracy of business control procedures, governance structure, risk management and overall operations syst...

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17 Jun 2020

How to Choose the Right Auditor for Your Business

Before choosing an auditor for your business, a few questions can come to your mind such as trust, guarantee on their capacity to handle your audit within the timeframe, and deadlines you require. You need to feel confident in the auditor that he shows a genuine understanding of your business and industr...

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15 Jun 2020

Business Compliance with UAE VAT Law

If you want to make sure that your business is compliant with UAE VAT law, don’t worry. Here are some ways to meet the unique needs of your business ensuring complete, VAT compliance. Value Added Tax is an indirect tax on consumption and it is mostly applied on goods and services at 5% standard rate. GCC...

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12 Jun 2020

Mistakes to Avoid While Choosing Accounting Software for Business

Still, you find issues with your accounting software? Here is the rundown of the top mistakes you perform while purchasing accounting software. As you evaluate your company’s needs, avoid the common pitfalls that undermine the potential growth of your brand value. The best way to avoid mistakes in your s...

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11 Jun 2020

Bookkeeping and Accountancy Practices for SMEs

Is your business striving to roll on higher efficiency? To get your business rolling, you need help to maintain your finance for ongoing success. In the market, you can find countless pieces of advice on accounting and bookkeeping practices for SMEs.

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06 Jun 2020

Business Finance Management During Tough Economic Times

What's the best way to manage your business finance in tough economic conditions? Considering the big picture of business amidst this pandemic, there is a tendency to attack the problems with vigour. Read more and understand how to strengthen your business finance in serious economic situations. 

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03 Jun 2020

Professional Accounting Help For Small Business Owners

Thinking of how a professional accountant can help small-business owner? Read more and understand why a trained accountant is essential for small and medium businesses. Starting a business is an exhilarating task, you need to create a strong foundation to withstand the competition in the market. Business...

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20 May 2020

UAE Economic Substance Regulations - Facts about UAE ESR

UAE Economic Substance Regulations (ESR) is one of the initiatives introduced by the UAE in response to the requirements of OECD. Two resolutions were passed on ESR on 30th April 2019 and 11th September 2019. CDA explains the things one should know about the Economic Substance Regulation of UAE.&nbs...

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15 May 2020

How Can a Professional Accountant Help your Business?

A professional accountant can help your business grow and flourish in flying colours. Every entrepreneur starts a business with the intension to grow and earn profit. Accounting plays a key role in running a business as it is vital to track income and expenses, ensure statutory compliance, and provide go...

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11 May 2020

Impact of Corona Virus on UAE Economy

The coronavirus has created chaos and has brought a huge impact on the economy in the UAE. As far the UAE is concerned, the novel Coronavirus will create an immense effect on various sectors including travel, tourism, construction, commodities, hospitality industry, and a lot more. The article describes...

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27 Apr 2020

Why is Accounting called the Backbone of Business?

Accounting must be called the ‘key to Social Change’. History says so. In history every country has a story of trade. Trade was/is considered as one of the most influential weapons by many countries. If trade is there accounting will be there. Before reaching the now, developed and technologically improv...

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27 Apr 2020

Accounting Reports Helps in Decision Making Process

Every businessman’s life is constantly streamed with making decisions. Envisioning your future by peeping through your smart decisions helps in investment of funds. Accounting reports provide prompt information on the financial aspects of the business and functioning. Accounting & Financial Reports a...

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27 Apr 2020

Stop Procrastinating on Your Finance

Stop thinking and start doing the best way to get out of this messy behaviour of Procrastinating your finance. Most times our finances don’t function within the predetermined timeline and don’t maintain a system to meet the definitive due dates, which creates a last minute rush in closing of accounts lea...

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24 Apr 2020

How to do Bookkeeping for small Business in Dubai?

For us Dubai is an omphalos to business, as a land of prosperity. Dubai welcomes all the business intents to start-up their dreams. For any successful business, bookkeeping services are very crucial. Booking the economic activities of the business in summarized entry format is the major part of bookkeepi...

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13 Apr 2020

How to organize your bookkeeping at Tax time in Dubai?

Bookkeeping is the course of recording all business transactions to produce a set of accounting records. Bookkeeping services in Dubai allows the owners of the business to maintain useful accounting information about the business’ sales, expenses, assets, liabilities and equity. The role of a bookkeeper...

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13 Apr 2020

Tips To Separate Business And Personal Finance For Startups

Building of a formidable financial infrastructure for the start-ups is an extremely challenging process. The business saying “Time is money” acts as a motto for startups to begin their business journey. In their journey they always dream about a bigger financial picture. The management of your start-up f...

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09 Apr 2020

Advantages Of External Audit Services In Dubai,UAE

An external audit is the detailed and independent examination of the books of accounts of a company which is prepared by the accounts department or an independent auditor. It is an impartial scrutiny which aims at zero error within the financials.It urges as a form of objective analysis on the financial...

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07 Apr 2020

Tips To Avoid Internal Audit Mistakes In Dubai, UAE

Still you find mistakes with your financials, then it's high time to focus on internal audit services. Internal Audit is a micromanaging independent function within an organization for measuring the internal control procedures and quality check. For the purpose of achieving this objective, the Internal A...

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bookkeepers in dubai
24 Mar 2020

Most Common Bookkeeping Mistakes To Avoid To Have Successful Business In Dubai

Bookkeeping is the platform for maintaining the track of financials, and it act an integral part of the accounting process. The accounting process includes purchases, sales, receipts, and payments by an individual or an organization. In this era of business revolution, it is necessary to maintain systema...

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financial planning tips for startups dubai
24 Mar 2020

Financial Planning Tips For Startupreneurs & Professionals In Dubai

Most start-ups fail due to running out of cash? If you are among them just start to low your expenses, to remain in longevity. No one knows what’s going to happen next in business better be prepared for any worst situation, so go for financial planning, It creates a timeline to follow your financial goal...

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organize your finance for 2020
20 Mar 2020

How To Organize Your Finance For 2020

In this burgeoning business world, a better way to start 2020 is by organizing your finance. Planning, the stepping stone to organizing, create a clear picture of a fiscally sound future. The efficiency of any business is portrayed in its smooth functioning without running out of cash and in securing fun...

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outsourced accounting services for startups and entrepreneurs dubai
03 Mar 2020

How Outsourcing Accounting Services Helps Startups Or Entrepreneurs in Dubai?

Compiling appropriate accounting records is naturally an imperative aspect for all successful businesses. Accounting Services is the procedure of meticulously recording accounting transactions and conducting constructive analysis of the results to take rewarding decisions. Nevertheless, the provision of...

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cfo for startups in Dubai
24 Feb 2020

Why should startups hire a CFO in Dubai?

When starting your own business, you often ask yourself the inevitable question of ‘where from and how much finance should I invest in my business?’. Especially in a market as competitive as Dubai, with so many established firms and countless sources to obtain finance from, business owners may be emotion...

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dubai expo 202 investment source of funds
24 Feb 2020

EXPO 2020 – Importance of selecting the Investment source of funds

Businesses must assess certain factors before making a new investment. These include the rate of return from EXPO 2020, the appropriateness of promoting their company through EXPO 2020 and the agreement of the EXPO 2020 environment with their business activities. They should most importantly determine if...

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choose financial advisor for startups dubai
19 Feb 2020

How to choose a financial advisor for your startups in Dubai?

Financial advisor is a professional who has the skill and expertise to provide financial guidance about money decisions to a business allowing the owner(s) to make the most out of their initial capital investment into the business. He or she can help the business assess its financial performance and cons...

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VAT Registration Threshold Computation in UAE
10 Jan 2020

Vat Registration Threshold Computation In Dubai, UAE

Value Added Tax or VAT is a tax on the consumption or use of goods and services levied at each point of sale. VAT is a form of indirect tax and is implemented in more than 180 countries around the world. The end-consumer is ultimately bearing the cost. Businesses collect and account for the tax on behalf...

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vat effect on startups in dubai
06 Jan 2020

How Vat Will Affect The Newly Registered Companies In The Light Of Expo 2020

Dubai was selected as the titleholder to host The World Expo 2020 with the theme 'Connecting Minds, Creating the Future'. As of now, a total of 190 countries have confirmed their participation in the mega event. The international business exhibition is going to be hosted by Dubai from 20th October 2021 t...

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reverse charge mechanism
26 Dec 2019

Reverse Charge Mechanism

CDA has been providing its skillful services to the business world for the last so many years fulfilling the needs of its clients with complete satisfaction. We can assist you deal with the VAT filing of your business in a better way and help you comply with the VAT rules on Reverse Charge Mechanism.

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books of accounts vat in dubai
20 Dec 2019

Books of Accounts – Under VAT Scenario in Dubai

CDA provides highly qualified and experienced chartered accountants as tax advisers who have relevant industry specific experience in taxation complying with UAE Laws to prepare books of accounts and to meet the VAT filing requirements for your business. We are committed to provide the best VAT Advisory...

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18 Dec 2019

Bad Debts Adjustment Scheme Under Vat In Dubai

VAT filing has become an outlandish situation for many businesses due to ignorance of the compliance to law and lack of proper guidance. Any wrong interpretation of the law will lead to any bizarre situation with hefty penalties, loss of goodwill and lack of peace of mind. CDA professionals will examine...

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dubai expo 2020
16 Dec 2019

Dubai Expo 2020 And Its Effect In UAE Economy

Expo 2020 Dubai will definitely be an entryway into new markets for all businesses, offering them the chance to develop relationships with nations, multilateral organisations, corporations and educational institutions, as well as millions of visitors, reverberating Expo’s theme of ‘Connecting Minds, Crea...

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part time accounting services in dubai
29 Nov 2019

Advantages Of Part Time Accounting Services In Dubai

CDA is a pioneer in providing part-time accounting services in Dubai and all over the UAE. It’s a team of highly competent and skilled accounting professionals. CDA offers categorically skilled and professional Part-Time Accountants who are cost effective for your company and in compliance with universal...

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how vat work in uae
18 Nov 2019

How Does Vat Work In Uae?

The United Arab Emirates Implemented Value Added Tax (VAT) on 1 January 2018 with a rate of 5 percentages on goods & services. VAT provides the country with a new basis of income, donating to the continued facility of high-quality public services in the future. It also helps the government move towards...

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accounting and bookkeeping requirements of startups in dubai
21 Oct 2019

The Accounting & Bookkeeping Requirements for Start-up Companies in UAE

In the busy schedule, it may not always be possible to stay up to date with limited knowledge and resources. In this situation, outsourcing is a better option. Since your balance sheet, your bookkeeping and your cash flow forecasts often control your growth strategy, as a beginner, you may be in a dilemm...

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internal auditors in dubai
04 Oct 2019

Role and Functions of Internal Auditors in UAE

An expert auditor can provide you with certified assistance and guide you in all your financial matters to tackle the turtle and gear up; for, the audit report delineates a clear-cut and comprehensive representation of the pecuniary stability of a company. Read more to understand the role and functions o...

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how vat affect common man in uae
04 Oct 2019

How VAT in UAE Will Affect the Common Man

The tax-free life of the citizens of the UAE came to an end on 31 December 2017 by the implementation of Value Added Tax by the Emirates. The GCC countries agreed to impose a rate of 5% tax on certain goods and services from 1 January 2018. Though the VAT rate is minimal compared to other countries in th...

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professional bookkeepers in dubai
03 Oct 2019

Why You Need a Professional Bookkeeper to Run a Business in UAE

The primary purpose of bookkeeping is to keep an entire and exact documentation of all the pecuniary operations in an arranged and organized mode. A book of account reflects the fiscal upshots of these operations or transactions.

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03 Oct 2019

VAT Deregistration Penalty in UAE

Deregistration of VAT in the UAE means business in UAE cancels its VAT registration with the Federal Tax Authority (FTA). VAT deregistration in UAE is as important as registration for a VAT. There could be various reasons for canceling the registration for VAT in UAE. But such reasons should comply with...

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17 Sep 2019

Why VAT Consultancy Services required for your business in UAE?

A brilliant VAT consultant not only helps your business meet the required VAT standards but also provides inclusive solutions to run the business successfully and productively. A competent VAT consultant improves your business performance, operational efficiency, and VAT compliance.

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business advisory services in dubai
10 Sep 2019

Business Advisory Services and its Effective Benefits on Business

Business Advisory Services are provided with the intention to support businesses to identify their strengths and overcome weaknesses in precise areas. These services give advice on business strategies like Budgeting and Cash Flow, Business Improvement and Transformation, Buying or Selling a Business, Pro...

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outsourcing accounting services uae
30 Aug 2019

Benefits of Outsourcing Accounting Services for Your Business in UAE

There are several benefits of outsourcing accounting services for your business.It may be difficult for a business to manage the Accounting Activities within when compete with others and to comply with the legal requirements in the fast growing economy of the region. So Outsourcing Accounting Services ca...

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importance of tax audit
29 Aug 2019

Importance of Tax Audit And Its Effect On Business

​​​​​​​Tax is an enforced contribution to a state’s revenue, imposed by the government on workers' income and business profits, or added to the cost of some goods, services, and transactions. Taxation is a method by which governments back their overheads by imposing charges on citizens and business entit...

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cfo services in dubai
19 Aug 2019

How a Qualified CFO can Bring Added Value to the Company

CFO or the Chief Financial Officer is one among the strategic higher-ranking executives in any private concern and is imperative to an organization’s long-standing success. He is the one responsible for the financial actions of a company. In the past, the CFOs had to concentrate only on the financial ope...

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the digital tax stamp scheme in dubai
19 Aug 2019

The Digital Tax Stamp Scheme

The Federal Tax Authority of the UAE has announced that from 1 August 2019 onwards, the sale or possession of any kind of cigarettes which do not bear the Red Digital Tax Stamp will be banned in the UAE domestic market.

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07 Aug 2019

The Effect of UAE VAT Law in Real Estate Sector

The value-added tax law (VAT) @ 5% came into effect in the UAE from 1 January 2018. According to FTA (Federal Tax Authority) and DLD (Dubai Land Department), the impact of VAT on Real Estate in the UAE will be trifling, as about 85% of the components in the Real Estate are not exposed to tax.

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tax refunds for international funds
19 Jun 2019

Tax Refunds for International Events & Seminars Conducted in UAE

On 16th June, 2019, the UAE Cabinet has approved the decision of tax (VAT) refunds for all international events and seminars conducted in the UAE. This decision specifies that the facilities operating in the seminars, conferences, or exhibitions sector are qualified for VAT refund imposed on the arrangem...

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vat refund scheme in uae
19 Jun 2019

Vat Refund Scheme for Tourist Visa holders

Good News! for tourists in UAE. Visitors and tourists can now claim VAT refund which they have paid on purchases during their stay in the country. Upon leaving, the tourists can reclaim taxes for their purchases from a fully electronic system or self-service kiosks. That means instead of going to an offi...

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vat de-registration services
02 Jun 2019

When and Why You Need to Deregister VAT in UAE

Here we will see the situations when you need to deregister VAT in UAE. Individuals and companies in UAE who registered with the FTA (Federal Tax Authority) for VAT (Value Added Tax) can deregister from

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vat refund scheme for uae
20 Apr 2019

VAT Refund Scheme for UAE Nationals

Under the UAE VAT Law, construction of any type of buildings is a taxable supply. Thus, when an individual build even a residential building, he needs to pay government tax for the construction related expenses which includes contractors’ bill, building materials, and so on.

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vat planning and execution services dubai
17 Jan 2019

Business and Accounting Advisory Services , Proper VAT Planning & Execution, Effective...

Almost every business owner understands the need of keeping their financial books right. This is mostly due to the legal implications of failing to do so. For instance, in a region like United Arab Emirates, incompliance towards financial laws would invite serious issues to the company’s existence.

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outsourced accounting services in dubai
17 Jan 2019

5 Key Benefits of Outsourcing Accounting Activities

There is no doubt over that accounting activities are essential in every organization. It does not matter how small or big your organization is, you have to keep everything under transparent eyes. That is why you would have to enable consistent services of accounting and bookkeeping all along.

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accounting services for business services in dubai
17 Jan 2019

Accounting Services – Taking Your Business To The Next Level

We often think accounting services are quite underrated. Not many business owners understand how useful they can be for their organization. To say the least, the right accounting services can take your business to a new level.

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