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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The Four Types of Audit Opinion/Report Every Entrepreneur Must Know
Auditors in Dubai make certain judgemental assumptions before finalising their audit reports. Such judgments also known as opinions are reflected in the audit report, which is the most crucial outcome of the…
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Why Accounting Systems Analysis is Essential for Business Growth in 2022?
Companies in the UAE are required to maintain the books of accounts as per the Commercial Companies Law and various free zone regulations. Various other laws such as the UAE…
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AML Compliance in UAE: A Guide to Record-Keeping of Customer Identity and Transactions
As per Article 24 of Cabinet Decision No. (10) of 2019, Financial Institutions (FI) and Designated Non-Finance Businesses & Professions (DNFBPs) are required to maintain proper records to ensure compliance…
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Deadline Alert: December 31st is the Due Date for Tax Penalty Redetermination
Only a few days are left for the UAE tax registrants to avail the benefits of the tax penalty amnesty scheme rolled out by the Federal Tax Authority (FTA). Tax…
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