VAT Treatment of Transfer of a Business as a Going Concern in the UAE
When you sell a business as a Transfer of Going Concern (TOGC) in the UAE, it is not considered as a supply. And hence the sale of the business as a TOGC is not... Read more.
Top Insights For Effectively Accounting For Inventories
Accounting for inventories is critical for companies in the retail sector. Many people often think of on-hand inventory simply as a stock that is yet to be sold.... Read more.
VAT On Automotive Sector: Major Obligations For Car Dealers, Service Centres
Supplies made by businesses in the automotive sector are generally subject to VAT in the UAE. Qualified means of transportation such as buses are designed and used... Read more.
A Comprehensive Guide to Special VAT Refund Schemes in the UAE
Since the introduction of VAT in the UAE in 2018, the government has introduced various refund schemes for the benefit of specific persons. Eligible persons are... Read more.
A list of Critical Business Expenses that Entrepreneurs fail to Prepare for
It goes without saying that running a business is an expensive affair. Rookie entrepreneurs spend more energy, money and time on launching their businesses. Inexperienced... Read more.
Tax Invoices in UAE: Key Obligations Businesses Must Know
As per the UAE VAT Law, a tax invoice is a document made in written or electronic form, which records the occurrence and details of a taxable supply. Article... Read more.
A Guide to Best Accounting Practices to Sustain Your Startup in Dubai?
Entrepreneurs must devise strategies for financial planning & management to sustain their startups in Dubai, which is a highly competitive and dynamic market.... Read more.
A 2022 Guide to VAT Obligations For Businesses in the UAE
January 2022 marks the fourth year of the introduction of Value Added Tax (VAT) in the UAE. The introduction of VAT has changed the entire regulatory landscape of... Read more.
Tips for New Businesses to Start a Robust Accounting System
An international market such as the UAE offers unparalleled opportunities to entrepreneurs to start a business and make it successful. However, lacking a strong... Read more.
Navigate These Accounting Challenges to Run a Successful Business in Dubai
Small businesses in Dubai encounter a wide range of challenges every day and the accounting process accounts for a major share of such challenges. Entrepreneurs... Read more.
