How To Decide Frequency of Internal Audits in your Organisation?
In the corporate world, it takes a huge effort from the management to run the business at full capacity to meet the customer demand. Yet, most business owners perform a…
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Top Ways to Improve Your Accounts Payable & Receivables Process
Every business needs to constantly keep track of accounts payable (AP) and accounts receivable (AR) to ensure the organisation’s smooth functioning. These two processes are responsible for keeping track of…
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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…
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Top Qualities that Make a Good AML Compliance Officer
Financial institutions and Designated Non-Financial Businesses and Professions (DNFBPs) in the UAE are required to appoint a compliance officer to combat the crime of money laundering and financing of terrorism. Article…
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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. However, one…
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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 for public transportation…
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What Are The Major Objectives Of An External Audit
Not long-ago businesses in Dubai were free to get the bank facilities without being their books of accounts audited. However, things changed in the 1990s when many investors went burst…
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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 allowed to claim a…
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Companies Need to Sort Out these Issues before Starting the Audit Process
In Dubai, an audit can be viewed both as a mandatory requirement for compliance as well as an optional process. For instance, audit report submission is mandatory for Dubai free…
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Corporate Tax in UAE: A Guide to Non-Taxable Income & Exempted Entities
The UAE corporate tax (CT) is set to come into force from June 2023, prompting investors to assess whether or not their businesses would come under its ambit. Carrying out…
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