VAT compliance

Managing costs of VAT compliance

2019-05-25

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 →

Date of Supply

Date of Supply

2019-03-28

Date of supply is a very important concept to be well versed with to ensure full compliance with the VAT guidelines in place. Date of supply is the date or point where VAT becomes chargeable, the tax period within which this date falls requires the tax to be reflected inRead More →

uae vat tax invoices

Tax Invoices

2019-03-03

Tax Invoice – UAE VAT requirements It has been over a year of implementation of VAT in UAE and still, we find that businesses have to get their head around tax invoices.  This is surprising as UAE VAT registered businesses are pretty comfortable with the Tax Invoices that they issueRead More →

entrepreneurial success

Secret of entrepreneurial success

2018-11-28

What does it take to make a business successful?  A good Entrepreneur with adequate capital, attitude and skills……. Well as a start-up owner in recent years, I have had the first-hand experience on what works and what doesn’t.   During my corporate stint as a risk professional, I have always hadRead More →

VAT in UAE

VAT side-effects – Improved business processes

2018-08-28

It has now been 7 months of tax compliance for businesses registered for VAT.  Having been in the accounting business well before the introduction of VAT, it is indeed heartening to note the subtle but definite changes in the business processes that the introduction of VAT has brought about.  TheRead More →

UAE VAT

Tax Returns and payment cycle

2018-05-01

A majority of the small and medium businesses had their first tryst with Tax Return Filing and Payment of taxes in the month of April. The FTA had initially given varying tax periods for businesses as and when they registered for VAT, however, subsequently, they streamlined the tax periods byRead More →

VAT services

Living in the new VAT environment and VAT accounting

2018-04-18

The VAT was effectively implemented on 1st January 2018 by the United Arab Emirates Government. While consumers had apprehension on the impact of VAT on their budgets, visible in the way the bills were scrutinized in 2018 to assess the extra amounts paid, in general, the impact on budgets hasRead More →

Entering a new era of Taxation in the region 1

Entering a new era of Taxation in the region

2017-12-30

We are now a day away from the effective date of Value Added Tax (VAT) implementation.  There is apprehension, resolve and a bit of worry among businesses to be able to fully comply with the regulations. VAT is expected to improve the business culture in this part of the worldRead More →

Business Culture in UAE

VAT – Impact on business culture in the region

2017-10-10

The introduction of VAT is on the anvil. The registration has also commenced in both KSA and UAE. What will the impact of VAT in this erstwhile tax-free region be? By sheer numbers, the small and medium enterprises in the region form a big chunk of the overall businesses, theseRead More →