Any business starts small and if managed right grows consistently. Taxation is a part and parcel of business globally, which requires the business to maintain a proper book of accounts as a minimum. For a new business, outsourcing accounting activity to a local accounting services firm is the best availableRead More →
Value Added Tax is a tax that generates revenue for the Government in an effective manner throughout the value add process from raw material to finished product. So for the businesses and consumers, we do need to understand a few basic principles of UAE VAT. Contents1 Background:2 GCC common aspects: 3Read More →
We often get queries asking us what our charges are to “register company for VAT in UAE”. This prompted us to write this blog to explain that there is no need to pay for registering for VAT in UAE to any authority or consultants as it can be done byRead More →
Tax invoice records a transaction of buy and sell of goods or services. VAT as applicable is a transaction based tax. Hence, tax invoices are a critical component of VAT laws in any jurisdiction. The law in force is expected to use both the transaction data and also mandate captureRead More →
Federal Tax Authority of UAE or UAE FTA was set up in 2017 to implement and manage the introduction of Excise and Value Added Tax in the UAE. UAE and specifically, Dubai being a trading hub with a significant volume of imports and re-exports, the tax treatment for these involvedRead More →
Dubai has always been a place to build your financial plans and see it realized. It was always a place making it easy to live and grow your financial portfolio and family lifestyle. However, with the global economic environment becoming challenging and its related impact on the local economy, asRead More →
Work Permit costs have been reduced by 50 % for skilled labor!! A recent news article on Khaleej Times (dated 11th July, 2019) highlighted the slashing of rates for labor related charges by the Government. This is one of the best news to come out in recent times along withRead More →
Dubai has always focused on building its reputation as one the top tourist destinations not only regionally but at the global tourism space. Tourism has contributed to the phenomenal growth of this Emirate in this short span of time compared with other global tourism hotspots with which Dubai competes. FreeRead More →
PRO Services While generally, PR services refer to managing the Public Relations for an Organization, PRO Services in the Gulf region actually refers to managing the Government relations for an Organization. It represents the investor with the government entities, with which regular interaction is required to run a business inRead More →
VAT compliance The United Arab Emirates introduced Value Added Tax on 1st January 2018. It has now been over 18 months of implementation. As an accounting firm, we ensure that our clients achieve full vat compliance at all times. However, our review and interaction with various businesses providing services andRead More →