Audit requirements in UAE – how important is it?
Introducing the Commercial Companies Federal Law, No.32 of 2021, has shifted the air in the United Arab Emirates (UAE) business world. The law mandates the audit requirements in the UAE, ensuring that businesses operating in mainland UAE follow strict financial transparency and compliance guidelines. The most notable change is the statutory audit requirement for mainland […]
Avoid Double Tax In Dubai For Indian: Know More About India Double Tax Treaty With United Arab Emirates.
The India-UAE Double Taxation Avoidance Agreement (DTAA) ensures that individuals and businesses aren’t taxed twice on the same income, fostering a more favourable environment for trade, investment, and economic cooperation between the two countries. As cross-border transactions increase, understanding this treaty becomes essential for smooth financial planning, particularly when considering the tax in Dubai for […]
Understanding UAE Corporate Tax Law: Penalties, Fines, and How to Stay Compliant
Understanding the UAE’s Corporate Tax Law Corporate tax in the UAE became effective on June 1, 2023. It is governed by Federal Decree-Law No. 47 of 2022, as amended by Federal Decree-Law No. 60 of 2023, and applies to locally incorporated businesses and foreign entities effectively managed from the UAE. The tax rate is set […]
A guide to VAT: Zero-rated or VAT Exempt Supplies in UAE – What benefits you?
Understanding VAT in the UAE The UAE implemented VAT to diversify its economy and reduce reliance on oil revenues. Understanding VAT implications is crucial for businesses to comply with regulations and optimise tax efficiency. Among the critical distinctions in UAE VAT law are zero-rated supplies in the UAE and exempt supplies in UAE. While zero-rated […]
Tax Refund Dubai: A Golden Privilege for UAE Nationals Building New Residences
As of 2024, property prices in the UAE have steadily increased. Dubai, in particular, has seen a surge in villa prices due to high demand, with some areas experiencing double-digit growth over the past year. Multiple other challenges exist, including value-added tax (VAT) on construction-related expenses. However, understanding the VAT refund scheme will save you […]
Boost Your Revenue and Efficiency with Accounting Outsourcing Services
“The common question that gets asked in business is, ‘Why?’ That’s a good question, but an equally valid question is, ‘Why not?’ – Jeff Bezos – “Why not?” It’s a question that pushes boundaries, challenges norms, and invites innovation. So, why not outsource your accounting services? It might seem unconventional to hand over a […]
Understanding Re-KYC for AML Compliance
KYC is the basic step for regulatory compliance. Especially in AML, it helps assess and manage the risk of financial crimes on a large scale. KYC (Know Your Customer) and AML (Anti-Money Laundering) are crucial for preventing financial crimes. KYC and Re-KYC processes continuously safeguard your clients and business by ensuring accurate and up-to-date customer […]
Know everything about the American Tax UAE and Save Your Dollars
The “American tax UAE” situation for Americans has more to do with the IRS than the UAE. For Americans in the UAE, being in the country impacts their taxes primarily through US tax obligations. Dubai, the most populous city in the UAE, offers unparalleled experiences with its iconic skyscrapers, massive shopping malls, and bustling airports. […]
The Ultimate Guide to Outsourced CFO Services in the UAE
In this era, where flexibility and adaptability have been redefined for companies, outsourcing leadership roles is a channel worth exploring. Leadership roles require specific skill sets, qualifications, and a rooted network in the field. And when it comes to CFO services, the expertise needed is critical, yet hiring someone with such skills and experience can […]
Everything About UAE’s Law Framework to Combat Money Laundering and Terrorism Financing
The United Arab Emirates (UAE) has been making significant progress in fortifying its financial security and integrity by combating money laundering and terrorism financing. These efforts align with global initiatives and underscore the UAE’s commitment to being a secure and dependable place for international business and finance. The Role of the UNSC and UAE in Implementing […]
