The Role Of The Financial Statements For SMEs in Dubai in Uncertain Times
Though people say Dubai is a tax haven or there are no taxes. True but very few people realise the fixed administrative cost is very high. Hence keeping watch on…
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An Essential Guide To Conduct An Internal Audit In Your UAE Organisation
Performing consistent internal audits is essential for businesses to accomplish their corporate objectives by analysing the efficacy and consistency of their best practices. Unlike an external audit, an internal audit…
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Administrative Penalties for ESR Non-compliance in the UAE
The Cabinet Resolution no. 57 of 2020 has given the administrative penalties related to various violations related to Economic Substance Regulation (ESR). The new resolution has increased the number of…
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An Accountant’s Guide To Monitor Financial Growth Of Your Company
Finance can be intimidating for upstart entrepreneurs but failing to give it due care will steer your business into the wrong trajectory. Tracking the financial performance of your business regularly…
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A Guide to Exempted Licensees under ESR in the UAE
The UAE’s amended Economic Substance Regulation (ESR) has categorised businesses into licensee and exempted licensee, which determines an entity’s ESR obligations. The categorisation is based on the nine relevant activities…
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ESR Implications for IP Businesses and Corporate Franchise Agreements in the UAE
It is common for investors to form Intellectual Property Holding Companies (IPHCs) Or Special Purpose Vehicle Companies (SPVs) or sign a corporate licensing (franchisee) agreement with other companies to use their…
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AML / CFT in UAE: Everything You Need To Know About goAML System
If we make a list of buzzwords that generated much attention in recent times among investors in the UAE, ‘goML’ would definitely take the top slot. Originally developed by the…
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DNFBPs: Everything Auditors Need To Know About Ensuring AML Compliance in The UAE
Auditors who are practitioners and employees who work for audit firms in the UAE are required to know and assess the risk of money laundering involved in their profession. Auditors…
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5 Accounting Challenges for SMEs in 2021: How to Overcome Them?
As with any other industry, a big wave of change is sweeping across the accounting industry in line with the challenges posed by the post-pandemic scenario. Accounting firms in Dubai…
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A Detailed Guide to VAT Applicable on Director’s Services in the UAE
The director of the LLC in the UAE who receives the director’s remuneration for his services to companies regularly and independently are responsible to charge VAT on their directorship fee…
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