A to Z on How to Claim VAT Refund in UAE for Tourists and Business Visitors
Understanding VAT in the UAE: An Overview To learn about how to Claim VAT Refund in UAE for Tourists and Business Visitors, You need to know more about VAT – On January 1, 2018, the UAE government introduced the VAT tax to diversify its revenue sources and reduce its dependency on oil income. VAT provides […]
The Benefits of Hiring a Corporate Tax Consultant in Dubai
A good entrepreneur always needs reliable and committed tax experts by their side. And that is why you need a corporate tax consultant whose vision is the same as yours. A corporate tax consultant wants to partner with you to help you save money, follow the law, and avoid financial hindrances that will harm the […]
ECL Calculation Under IFRS 9: A Practical Guide for UAE Business Owners
What UAE Businesses Need to Know: As a person in the business world, you have probably heard of ECL and IFRS 9. Let us break that down: What is ECL? Expected Credit Loss (ECL) under IFRS 9 is a feature of modern financial reporting. It helps businesses prepare for risks by predicting potential credit losses. […]
A guide to Capital Gain Tax on Sale of Shares in UAE: for individuals & corporates alike
The UAE administration has an extraordinary Tax system. It supports growth without burdening its people with heavy taxes. When discussing the tax on the sale of shares globally, the UAE stands out with its unique tax structure. Knowing Capital Gain Tax A capital gain tax is a charge on profits from the sale of assets. […]
Misclassification of Capital expenditure and Revenue expenditure and how to avoid it.
Bookkeeping is as essential to a business as breathing is to the body. It’s the company’s lifeline, so tracking every penny that flows in and out is vital. Misclassifying capital expenditures (CapEx) and revenue expenditures (RevEx) in bookkeeping will be expensive. Capital and revenue expenditures are critical for maintaining and growing a business. They serve […]
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 […]
