A Guide to New Amendments to the UAE Excise Tax Decree Law
The UAE Excise Tax regime is governed by the Federal Decree-Law No. 7 of 2017 (“Excise Tax Decree-Law”). However, the Federal Decree-Law No. 19 of 2022 has come into effect…
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A Guide to the Significance of Cost Accounting for Businesses
All entrepreneurs start their businesses to make a profit. However, knowing how much your business spends is critical to determine whether you are making a profit or not. This is…
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How Does the UAE VAT Apply to Electronic Services?
The digital economy is a critical part of global trade and the sector continues to grow. However, the application of Value Added Tax (VAT) on digital services can be complex,…
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DDA Makes Audit Report Submission Mandatory: Deadline Approaching
Free zone companies licensed by the Dubai Development Authority (DDA) are required to submit their audited financial statements to the authority. The deadline for submitting the audited financial statements to…
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An Auditor’s Guide on Why You Must Conduct a Business Valuation
Most business owners know their business from A to Z. However, many of them are unaware of the true value of their company in the market. Understanding your company’s real…
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UAE Corporate Tax: Why Audits and Maintaining Books of Accounts Are Critical
Companies in the UAE are required to maintain their books of accounts as per the UAE VAT Law and the regulations of certain free zone authorities. However, there are many…
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AML in the UAE: The Role of Financial Intelligence Units
The UAE established the Financial Intelligence Unit (FIU) as an independent authority for investigating financial crimes, frauds and suspicious transactions. Even though established in 1998, the FIU assumed its current…
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Everything You Must Know About Foreign Branch Profit Exemption
As the UAE corporate tax is proposed to take effect from June 1st, 2023, companies need to analyse the potential impact of the tax on their business earnings. UAE businesses…
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Critical Accounting Challenges Faced by E-Commerce Firms in 2022
When it comes to financial management and accounting, every industry has its pros and cons. However, the e-commerce industry faces some unique challenges and most online sellers are not equipped…
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What Role Audit Firms Can Play in the Growth of Startups in 2022?
Most startup owners in Dubai dislike carrying out an annual audit and view it as a ‘necessary evil’, a regulatory compulsion or an unnecessary overhead. However, they fail to realise…
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