What is Equity in Accounting? Everything business owners need to know.
As a small business owner, you may have heard the term “equity” thrown around in conversations about finance and accounting. But what is equity in accounting, and why is it important for your business? In this article, we’ll explore what business equity is and how it represents the value of your small business. We’ll also […]
100% Foreign Ownership in UAE authorised – Everything you need to know.
On November 23, 2020, the UAE Commercial Companies Law (the “CCL”) announced its decision to allow 100% ownership for foreign investors in UAE. This new policy marks a significant shift in the UAE’s business landscape and aims to attract foreign investment, enhance economic growth and stimulate innovation. Read on to find out more about this […]
A Comprehensive Guide to the Accounting Cycle for Trading Businesses
Accounting is an essential aspect of any business, and trading businesses are no exception. All organisations require accounting because dealing with numbers is not an easy task; and as a business, keeping a record of all transactions is crucial in the long run. The recorded information may be needed for various purposes, such as making […]
A detailed guide to the best investment in UAE for maximising your wealth.
The United Arab Emirates (UAE) is a land of great economic opportunities and has a high potential for sustained growth. With its strategic location between Europe, Asia, and Africa, the country has become a hub for business, trade, and investment. Moreover, the UAE government has made considerable efforts to promote foreign investment and create a […]
UAE’s Finance Ministry clarifies the country’s tax residency rules
The Ministry of Finance in the UAE recently issued a decision regarding the determination of tax residency for individuals residing in the Emirates. The ministry clarified that, for tax purposes, an individual’s “usual place of residence” will be considered to be in the UAE if that is where they normally or habitually reside. The clarification […]
Comprehensive guide to taxes in UAE – Income Tax, Property Tax, Corporate Tax UAE and more.
Apart from the incredible skyscrapers, golden beaches, and countless tourist destinations to explore, UAE has one of the most liberal tax policies in the world. Many people consider the UAE to be the financial and commercial hub of the Middle East and coupled with the attractive tax policies make the country an alluring option for […]
What is an MIS Report and why does it deserve your attention? Explained.
Thanks to the implementation of new economic reforms by the UAE government, businesses in the country are slowly but surely realigning themselves to comply with these accounting practices. In order to comply with the amendments to the Commercial Companies Law, VAT, Economic Substance Regulations (ESR), Anti-Money Laundering and Combating Financing of Terrorism (AML-CFT), and Ultimate […]
Attestation mandatory for import invoices worth AED 10,000 and above.
Companies in the UAE will soon be subject to a new compliance requirement as they would be required to attest import invoices with a value of AED 10,000 and above by the UAE Ministry of Foreign Affairs and International Cooperation (MoFAIC). Effective February 1, 2023, The Ministry of Foreign Affairs, and International Cooperation (MoFAIC) has […]
