ESR- Which Companies Should Be Worried?
The European Union’s review of the tax framework in the United Arab Emirates led to the UAE being listed as a non-cooperative jurisdiction for tax purposes, also known as the EU Blacklist. To address this, the UAE introduced the Economic Substance Regulations (ESR) to align with international standards and remove its name from the blacklist. […]
ESR Amendment – Reporting Requirements and Penalties
The United Arab Emirates is widely regarded as one of the prime locations for establishing and conducting business operations. With its progressive and growing economy, strategic location, access to diversified markets, strong cultural background, and favorable business environment, the UAE offers numerous advantages for entrepreneurs and businessmen. However, with the increasing influx of people and […]
UAE VAT Health Checks: Why Are They Important for Businesses?
Ensuring VAT Compliance in the UAE: A Comprehensive Guide VAT compliance is a crucial aspect of running a business in the UAE. To avoid penalties and operate efficiently, businesses must adhere to the regulations set forth by the Federal Tax Authority (FTA). Here’s everything you need to know about conducting a UAE VAT health check […]
How can I register for UAE VAT and file a VAT return in the UAE?
Guide to VAT Return Filing in the UAE If you operate a business in the UAE, understanding the process of VAT return filing is essential. Here’s a comprehensive overview to help you navigate VAT filing procedures effectively. Overview of VAT Filing in UAE: For businesses registered for VAT in the UAE, filing VAT returns is […]
How VAT Services Work in Dubai:
Here’s a simplified breakdown of how VAT collection operates in Dubai: Step 1: A farmer grows dates and sells them to a processing factory. The farmer charges VAT to the factory. Step 2: The factory processes the dates into date syrup and sells it to retail chains. The factory collects VAT from the retail chain. […]
Corporate Tax Calculation in UAE?
Corporate Tax in the UAE: Understanding Calculation and Examples In January 2022, the Ministry of Finance in the UAE announced the introduction of Corporate Tax on business profits, effective from July 1, 2023, across all emirates. Definition and Calculation: Corporate tax is a direct tax levied on the net income or profit of corporations and […]
What is corporate tax and how does it work in the UAE?
What is Corporate Tax in the UAE? Corporate tax in UAE also referred to as “Corporate Income Tax” or “Business Profits Tax” is a form of direct tax levied on the net income or profits of corporations and other entities derived from their business. Except for the extraction of natural resources, which will continue to […]
Factors to consider before hiring an audit firm in Dubai
Audit firms in Dubai play a pivotal role in facilitating businesses to navigate financial challenges seamlessly. Engaging auditing firms in management processes can be highly advantageous for companies, ensuring the maintenance of financial stability and fostering business growth. Hence, it becomes imperative for businesses to select the most suitable audit firm in Dubai, capable of […]
These are the documents that are required for an audit of a company
Undertaking an audit can indeed be a complex and time-consuming endeavor, which often deters many entrepreneurs and business owners. However, despite the challenges, conducting regular audits is essential for any business. It serves as a critical tool for identifying loopholes and irregularities within the company’s operations, enabling management to implement corrective measures promptly. Table of […]
How can I initiate an audit process in Dubai?
Are you someone with aspirations of launching a business in Dubai but finds the prospect of company audits daunting? If the answer is yes, then fret no more! You’ve arrived at the ideal destination where you’ll gain invaluable insights into navigating the intricacies of initiating an audit in Dubai with confidence and clarity. Initiating Audit […]
