A Guide to New Amendments to UAE VAT Decree Law
The UAE has introduced the Federal Decree-Law No.18 2022 amending some provisions of the Federal Decree-Law No. 8 2017 on Value Added Tax (the VAT Law). Although the amended law…
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AML in UAE: How to File a Dealers in Precious Metals and Stones Report?
The Dealers of Precious Metals and Stones (DPMS) are required to ensure AML compliance in the UAE by submitting the Dealers in Precious Metals and Stones Report (DPMSR). The DPMSR…
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What Are the Two Tests for UAE Corporate Tax Permanent Establishment?
The proposed UAE corporate tax regime will follow the Permanent Establishment (PE) concept to determine the taxability of persons. PE is a critical international tax concept that refers to a…
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A Comprehensive Guide to VAT Treatment of Charities in the UAE
Charities need to understand the impact of UAE VAT on them under two contexts: its application to the activities of all charities and the approach they should take while determining…
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UAE Corporate Tax Exemption: Requirements for Investment Funds
The UAE corporate tax regime is set to become effective from June 1st 2023. However, many investors are still unaware of the proposed corporate tax’s impact on their businesses. Lack…
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Why Bank Reconciliation Is Significant for Small Business Accounting?
Not reconciling bank is one of the bad habits small business owners must ditch to ensure business success. Regularly bank reconciliation is critical for your small business to detect errors,…
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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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