The United Arab Emirates, or UAE, has long been hailed as a haven for tax-free businesses. Hence, small entrepreneurs and giant multinational corporations also found its highly lucrative incentives and business-friendliness attractive. The recent announcement of introducing corporate tax buries this aspect of UAE being a so-called ‘tax haven.’ This step will affect the UAE […]
Tax planning is key in financial planning, not only for businesses but also for individual persons. Understanding and applying strategies to carry out effective tax planning will lead to much financial gain, seeing that the tax landscape in the United Arab Emirates is well skewed. This detailed book travels through the best strategies for effectual […]
The UAE has, in the recent past, witnessed a rapid growth in its economy making it a global center for trade, finance and tourism. This expansion brings with it the need for strong financial oversight so as to assure integrity of financial information and efficient functioning of markets. It is through auditing standards that facilitate […]
International companies should explore how the United Arab Emirates (UAE) has long been adored by international businesses due to its strategic position, well-developed infrastructure and friendly business policies. The UAE’s corporate tax system is one of the factors that make it an attractive place for doing business. The paper examines advantages of corporate tax in […]
Introduction Value Added Tax (VAT) has become an integral part of the economic landscape in many countries around the world, including the United Arab Emirates (UAE). Since its introduction in 2018, VAT has significantly influenced the operations and financial planning of businesses across various sectors. Understanding the effect of VAT on UAE businesses is crucial […]
It is a challenge to go through the UAE VAT system even for someone who has been there for quite some time, let alone a beginner. Our guide is straightforward to follow and provides practical tips that will help you remain compliant while ensuring that you do not make costly mistakes. Keep reading for more […]
Introduction What are the International Financial Reporting Standards (IFRS), and how will they affect your audit procedures this year? In a financial world that is ever dynamic, these standards become very important to apply and adhere to by the professionals in the economic realm. In this blog, we first explain IFRS and then move on […]
A new Corporate Tax Decision No. 3 of 2024 was announced by the Federal Tax Authority (FTA) on February 22. This decision was announced to maintain the timeliness of corporate tax in UAE registration and the Cabinet decision no. 10 of 2024 with the penalty of 10k AED for violation. As of March 1, 2024, […]
Business setup in UAE, where the economy is booming and reaching beyond its skyscrapers, is a dream for many investors and entrepreneurs. The nation gives you enormous opportunities to start a business, such as governmental incentives, 100% ownership and so on. Any business owner will face issues when it comes to financial management because this […]
The UAE is highly popular for setting up businesses due to the lively environment, business-friendly policies and various other factors. However, it is challenging to keep up with economic downfalls, mismanagement and understanding the market requirements, which leads to financial losses for the company. In such cases, it is beneficial to shut down the company […]
