Ways to Address Audit Inconsistencies for your Small Business.
Small businesses need to be prepared and organised while facing an audit in the UAE. As an entrepreneur, you will be required to answer the questions posed by the auditors…
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Six Essential Qualities to Look for in Accounting & Bookkeeping Professionals
Accounting & bookkeeping professionals handle the most crucial aspects of your business such as managing and maintaining the books of accounts, financial information and handling tax-related matters. Generally, the business…
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How to Calculate Input VAT Adjustments Under Capital Assets Scheme?
With the Capital Asset Scheme, the taxpayers can adjust the initially recovered Input Tax on Capital Assets based on actual use during a specified time of 10 or 5 years.…
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Scope of External Audit: Dos and Don’ts for External Auditors
Getting the books of accounts audited by registered auditors in the UAE is mandatory for the companies in the mainland and some free zones. The registered auditors in Dubai, UAE,…
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Everything You Should Know About VAT Treatment of Compensation Payments
Businesses often make compensation payments for any loss, omission or wrongdoings and this may often lead the businessmen to ponder over the UAE VAT treatment of such compensation payments. The…
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How Do Law Firms Benefit from the Services of Accounting Firms in Dubai?
Lawyers are often regarded as intrepid in general but the aspects of legal accounting may sometimes prove to be challenging for them. The lawyers may have honed their skills for…
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UAE VAT-Free Special Offers: FTA Clears Major Misconceptions
The term ‘VAT-free special Offers’ have prompted many experts into pondering over the tax treatments of ‘No VAT Special Discounts’ in the UAE. The Federal Tax Authority (FTA) has also…
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VAT Registration for UAE Sole Establishments: What Does the FTA Clarification Say
VAT registration in the UAE is a mandatory legal obligation for taxable persons whose taxable supplies and imports exceed AED 375,000 per annum. Apart from the mandatory registration obligation, the…
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Filing VAT Returns in the UAE: Conditions & Requirements
Every taxable person is required to file a VAT return in the UAE to the Federal Tax Authority (FTA) at the end of each Tax period. As per Article 64…
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5 Tips from UAE Accountants for Your Business Expansion
As your small business or startup grows your next aim should be expanding to new territories. One of the key steps that you need to take as an entrepreneur is…
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