Deemed Supplies Under UAE VAT Law: Key Insights for Taxable Entities
The UAE charges VAT at the standard rate of 5% on taxable supplies generally but there are many factors that determine what constitutes a supply as per the UAE VAT…
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What is Tax Registration Number (TRN) & Why it is Important in Taxation?
The introduction of the Value Added Tax (VAT) in 2018 has brought fresh changes to the UAE business landscape which has been hitherto known to be a no-tax regime. As…
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Tax Audit in the UAE: Know the Procedure & Prepare Yourself
The Tax Procedures Law (Federal Decree-Law no. 7) defines a Tax Audit as a procedure undertaken by the Federal Tax Authority to inspect the commercial records or any information or…
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Six Tips from UAE Accountants to Improve the Cash Flow of Businesses Post COVID-19
We must accept that the business community has quickly learned to adapt to and live with the challenges posed by the COVID-19 pandemic. We have successfully managed to stay afloat…
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What Businesses in Dubai Need to do to Avoid the Bad Debts?
A company falls into the bad debt trap when the customer fails to pay for the products or services of your company and you cannot chase the payment and collect…
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Amendment in Economic Substance Law: What UAE Businesses Must Do?
The UAE ESR Law has once again gained traction in the public domain as the government has brought some significant amendments to certain clauses. The businesses now need to resubmit…
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How to Apply for VAT Clarification to UAE Federal Tax Authority?
The VAT has been in existence in the UAE for more than two years, yet the taxable persons may still have uncertainties over specific clauses of the VAT legislation or…
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How Does Audit Management Letter Help to Improve Your Business?
During an annual external audit process, the focus of the business owners normally falls on the annual report and the accounts. The audit report is crucial as it contains the…
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Challenge FTA’s Decisions: Submit VAT Reconsideration Form in the UAE
Business owners are required to have sound knowledge about the VAT/tax laws in the UAE as a failure to comply with the rules and regulations will attract hefty penalties. In…
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Why it is Crucial for You to Know the Financial Health of Your Business?
The skill to accurately assess the financial health of the company is a critical skill every entrepreneur or manager should master while doing business in Dubai. Getting a clear picture…
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