ESR Portal is Live: What UAE Businesses Should Have to do Now?
Businesses in the UAE are now in the last sprint of ESR submissions as the Ministry of Finance (MOF) Portal is lived since 1st December 2020. And the deadline for…
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FTA Clarifies VAT Obligations of Real Estate Management Entities in Dubai
In a significant update on VAT in the UAE, the Federal Tax Authority (FTA) has issued a public clarification on the VAT obligations of Real Estate Management Entities, which has…
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Determining Single Composite & Multiple Supplies is Vital in Dealing with VAT in the UAE
Taxable persons in the UAE need to be wary of supplies of goods & services composed of multiple elements combined in a single transaction. When such supplies occur, the taxpayers…
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Know the Key Role an Accountant Play in the Corporate Organisation
The role played by accountants in ensuring the correct use of funds for the corporate organisation should not be undermined. The Accountant is a major barrier to goal displacement and…
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Economic Substance Regulations: Are you Prepared for the Updated Rules & Deadlines?
As the UAE is inching towards its goal of attaining economic transparency, investors need to be prepared enough to comply with the regulations. This is especially true in the case…
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5 Accounting Myths Small Businesses Need to be Aware of
As an entrepreneur, you cannot downplay the role played by accountants in enhancing the growth of your business. If your business is witnessing success, a good part of the credit…
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Everything MNCs Need to Know About the New Financial Reporting Requirement in the UAE
The UAE has set December 31st as the deadline for the Multi-National Entities (MNEs) to register in the ‘MNEs Notification and Reporting System’ as per the Cabinet Resolution no. 44…
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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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