It is well-known that the UAE has been considered as a favourable destination by entrepreneurs, business owners, freelancers. The region provides a platform for business organizations to establish their roots and grow to national and international level. The UAE stands as a member of the GCC countries, and an important step was taken forward to […]
The task of recording, tracking and managing small expenses may not seem important but turns out to be one of the essential functions that a company can’t ignore. Bookkeeping is the ultimate process that records the expenses, and finally builds the foundation for accounting. While dealing with the process, accuracy stands first in the priority list. […]
Insolvency can quickly and quietly sneak up to a business, and by the time you realise it, it might be too late. A company is considered insolvent when it is unable to fulfil its financial liabilities and has debts that exceed the combined value of all its assets. In such a case the business would […]
Taxes are a critical source of revenue for the government of a country and thus are very important, but, the filing of charges can pose a tricky situation in front of the one who is filing taxes. If the taxes applicable to an entity are less and can be easily calculated, you can file charges […]
The business environment is very dynamic and is ever changing its course. This is the reason many businesses are formed but gradually are burnt out. Knowing the value of the company beforehand helps to have an idea as to which aspect of the business requires your immediate attention and which part is a lost cause. They can […]
The introduction of VAT has been relatively recent, but the impact of VAT in UAE is enormous. The VAT implementation was done at a standard rate of 5% (except certain items which are taxed at 0% or are exempted under VAT) from 1st January 2018. This rate was decided by all the GCC countries together and […]
With the recent application of VAT in UAE, tax groups seem to be a very advantageous option for all businessmen and entrepreneur. It would provide a group of companies the benefit of being considered as a single entity. This would affect the way taxes are applied to the company and will also have a massive […]
Setting up a business can be a very daunting task, but when this task is completed, it is not the end of the road. It is vital for a company that should know its value in the market. This will help the management to understand the current workings of the business and will also allow […]
The Value Added Tax was implemented with a rate of 5% in UAE from 1 January 2018 with an idea to bring in a new source of revenue. Since its implementation, the businessmen are still trying to cope up with the new rules and regulation regarding VAT and are still confused between Zero-Rated VAT and […]
The accounting function in a company is synonymous to the success of the firm. The better the accounts of the company are, the better the chances of growth for the organisation. After setting up a business in UAE, one of the first jobs of the management would be to finalize a way to analyse and […]
