Financial Advisor or Financial accountant: who will benefit you more?
Where did the money go? This is a question that we ask ourselves every single time a bonus or an increment is spent. Financial prosperity does not begin or end with the potential to earn. It goes beyond that and in that journey, we as Nair and Nelliyatt Chartered Accountants can help you make the […]
New Tax in UAE. What every freelancer in UAE should know in 2023!
The UAE Ministry of Finance has recently announced that a new corporate tax will be applied to all businesses and commercial activities in the country, including freelancers. This means that freelancers who earn more than AED 375,000 (US$102,000) per year will now be required to pay tax on their income. This change has come as […]
The complete guide to legal requirements to start an Online Business in UAE
2023 onwards is the best time to begin online ventures. It is a booming industry due to consumer comfort, lesser financial investment and the flexibility it provides to entrepreneurs and consumers. This is your go-to guide if you plan to begin an online start-up. We list here your legal requirements to start an online business […]
Transfer Pricing in UAE. Know the Definition, Methods & Regulations
Did you know that transfer pricing is crucial in taxation, especially for global companies working across countries and continents? Transfer pricing is a system followed by businesses to regulate the prices of goods, services, or intangible assets traded between related branches within the same corporate group. The UAE is a hub for global business; hence, […]
A complete guide to the benefits of statutory audits
When trying to understand the benefits of statutory audits, transparency is perhaps a great place to start. Companies should always strive for legal and financial compliance in their operations. And from the perspective of shareholders and investors, such an audit is a great way to show that your company is indeed serious about transparency. An […]
The ultimate guide to non deductible business expenses under UAE Corporate Tax
Business expenses are a dynamic aspect of running a business, as they can arise from various operations and locations. Keeping track of the types of business expenses for taxes and ensuring their compliance with tax laws can be challenging. Taxes are compulsory contributions created by a government entity on individuals or corporations. For companies, non […]
Everything about your Emirates ID & Emirates ID status and why it matters for your business
As a business owner in the UAE, compliance will always play a big part in your business life. Over the years, the UAE has come out with various rules and regulations that have contributed to creating a strong, vibrant and business friendly economic climate. An Emirates ID serves as a common thread that connects various […]
Why the depreciation rate in UAE & fixed asset audits matter for your company
By definition a fixed asset could be anything ranging from equipment to machinery, land, buildings etc. and represents something that exists physically. These assets cannot be easily liquidated as cash when compared to other assets. Establishing the number of fixed assets and evaluating their value is core to the auditing process for any company. Identifying […]
Latest updates on custom duty exemption in UAE & customs tax
Customs tax is and has always been a complex subject. Due to the number of stakeholders involved and the scale at which customs clearances happen in the UAE, it continues to develop periodically. For companies and professionals in the industry, this poses a challenge to understand custom duty exemption in uaeand abide by the relevant […]
EVERYTHING ABOUT THE SEEMINGLY ENDLESS BENEFITS OF ICA SMART SERVICES IN UAE
UAE is one of the most preferred destinations in the world for those who are opting to settle or seek employment outside their home country. If you are planning to open a business or looking to relocate to the UAE, you need to know about ICA Smart Services. From the normal jobseeker to the various […]
