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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...

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...

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...

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...

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...

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...

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...

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...

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...

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....

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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....

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...

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...

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...

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...

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...

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?...

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...

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...

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...

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...

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...

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.

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. 

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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.

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...

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...

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...

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...

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...

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...

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...

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...

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.

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...

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.

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...

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...

​​​​​​​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...

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...

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.

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.

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...

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...

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

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.

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.

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.

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.