Why Every Entrepreneur Should Acquire Accounting Skills?
Running a company in Dubai is no easy task. Business success in any region depends on several factors such as the feasibility of the business plan, adequate funding, and favourable…
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Top Reasons Businesses Should be Serious about UAE VAT Compliance
Value Added Tax (VAT) was introduced in the UAE on January 1st 2018, which means five years have passed since its introduction in the country. Yet, it is saddening that many…
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UAE Corporate Tax: Key Insights on Small Business Relief
The UAE Corporate Tax Law, which takes effect from June 1st 2023, provides a framework for Small Business Relief. The Corporate Tax Law states that the small businesses that qualify as…
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UAE Corporate Tax Law: Defining Taxable Persons
Businesses preparing for the UAE corporate tax gained more clarity on the various tax provisions when the government released the Federal Decree-Law No. 47 of 2022 on the Taxation of…
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Insights on Updated VAT Guide on Input Tax Apportionment
The UAE Federal Tax Authority (FTA) published a VAT Guide on March 2023 detailing the special methods relevant to Input Tax Apportionment. The new VAT guide replaces the previous guide…
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Cash vs Accrual Accounting: An Essential Explainer for Entrepreneurs
Cash basis accounting and accrual basis accounting are the most common accounting methods used by businesses to keep track of their revenue and expenses. However, companies prefer one method to…
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Why employee Engagement is vital for AML Compliance?
Businesses trying to comply with Anti-Money Laundering and Combatting Financing of Terrorism (AML-CFT) laws in the UAE need to consider employee engagement as a priority. Ensuring AML compliance in the…
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Top Tips for Upgrading Your Accounting and Reporting Systems
When your small business grows, there will be a point in time that warrants an upgrade of the company’s accounting and reporting system. Improving the accounting and reporting system helps…
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What Are the Top Implementation Criteria for TFS in UAE?
Financial institutions (FIs), Designated Non-Finance Businesses and professions (DNFBPs), and Virtual Assets Service Providers (VASPs) are obliged to comply with the Targeted Financial Sanctions (TFS) regulations in the UAE. The…
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A Guide to the General Definitions under the UAE Corporate Tax Law
The UAE issued the Federal Decree-Law No. 47 of 2022 on the Taxation of Corporations and Businesses (the “Corporate Tax Law”) on 9th December 2022. The UAE Corporate Tax Law…
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