UAE to Introduce Corporate Tax in 2023: Key Features You Must Know
The UAE is set to introduce the corporate tax in 2023 in a bid to modernise its economy in accordance with international norms. The introduction of corporate tax in the…
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Top Accounting Strategies in 2022 for UAE Manufacturing Businesses
Most manufacturing companies across the world rely on ”Lean Manufacturing”, which is all about minimising waste while maximising productivity. Companies that streamline manufacturing processes to reduce waste should also seriously…
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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 the UAE,…
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TFS in the UAE: Top Entities Vulnerable to Terrorist Financing Risks
UAE entities are required to comply with the Targeted Financial Sanctions (TFS) requirements as stipulated by the Cabinet Resolution No. 74 of 2020. Both institutions (FIs), as well as Designated…
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A Glimpse into Key External Audit Procedures in Dubai
Audit in Dubai is voluntary for mainland companies and mandatory for companies operating in most of the free zones in the emirate. The external audit process is defined as an…
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Why is ICV Certification Critical For Your Business in UAE?
The launch of the national In-Country Value (ICV) program offers a great opportunity for suppliers to win tenders of government and semi-government entities. Getting an ICV certificate gives the companies…
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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 grip over the company’s accounting function…
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Choosing FTA-Approved TAX Agents in the UAE: Everything You Need to Know
Hiring a tax agent in the UAE is a prime requirement for taxable entities to meet their tax-related obligations. The Federal Law No. (7) of 2017 on Tax Procedures defines…
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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 don several hats for their…
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A Guide to VAT Refund for UAE Nationals Building New Residences
UAE nationals constructing new residences for their personal use are eligible to reclaim VAT incurred on the expenses. To avail of the VAT refund on the expenses, the UAE nationals…
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