The tax system in the UAE has witnessed a considerable change in recent years. At first, the country used to have almost no taxes, but to reduce the dependency of the country on the revenue generated by the oil and gas sector and to better the economy and infrastructure of the country UAE Government decided […]
The emirate of Ras Al Khaimah, better known as RAK, is considered as a hidden gem of the United Arab Emirates. It comprises of all the topographies such the desert, mountains, beaches etc. which makes it a very suitable place for everyone. These topographies have also helped in gradually increase the number of businesses coming […]
During an outbreak of infectious diseases, such as the ongoing COVID-19 outbreak, small business owners must be ready to handle the uncertainty in their business, as well as be prepared to protect the health and safety of their employees. Corona Virus outbreak has affected several small businesses. In activities ranging from functioning to hiring to […]
Everyone knows that the United Arab Emirates has an extremely rich reserve of oil and gas and has a very flourishing hydrocarbon industry. Other than Dubai, UAE is heavily dependent on the oil and gas sector. The UAE has aimed to reduce its dependence on the hydrocarbon sector and is working towards it gradually. They […]
The COVID-19 pandemic wreaked havoc all over the world by itself, but now the after-effects of the virus are gradually getting visible. It is anticipated that the whole world will plunge into a global recession. This will be caused as almost the whole world is currently under lockdown and almost all the business are not […]
Accounting service is a worldwide service that plays a vital role in every industry. Overall accounting can be categorized as a comprehensive and systematic way of analyzing, summarizing and preparing reports based on the transaction, taxation, and regulations. Accounting comprises of many types of accounting such as management accounting, cost accounting and some basic accounting […]
Excise tax is a type of indirect tax that applies to specific goods like tobacco products, caffeinated drinks and also on sugary drinks. Such goods are generally harmful to human health and also to the surrounding environment. These goods are categorized as “excise goods” and the tax applied to it is referred to as the […]
Regulatory compliance is the adherence which an organization has towards the laws, rules, policies and regulations in order to aspire and ensure that the organization is aware of the scenario and follows the rules and regulations of the particular jurisdiction. A lack of regulatory compliance can lead to many unfortunate situations with you and your […]
On the 30th of April 2019, the UAE enacted the Economic Substance Regulation (ESR) by introducing the Cabinet Decision No. 31. According to this decision, economic substance requirements for the businesses which were carrying out “Relevant Business Activities” were provided. This decision was issued by the Ministry of Finance (MoF). Further updates were also later […]
The United Arab Emirates comprises of many free zones which provide numerous advantages and benefits to the upcoming businessmen and entrepreneurs. These free zones act as a springboard for the budding companies and provide various benefits to the companies. One such Free zone is the Sharjah International Airport Free zone (SAIF). Sharjah International Airport Free […]
