A summary on Tax groups: Eligibility, Benefits & Drawbacks
The UAE Corporate Tax (CT) Law introduces the concept of a “Tax Group,” allowing eligible resident companies to be treated as a single taxable entity for tax purposes. This article explores the key aspects of Tax Groups in the UAE CT framework. What is a Tax Group? As per the Corporate Tax Law, two […]
Top Benefits of Accounting Services for Businesses in UAE
Why Understanding the Benefits of Accounting Services for Businesses in UAE Matters? Accounting helps the businesses to analyze the financial performance, make decisions, and strategize for future growth. By providing insights into revenue streams, expenses, and overall profitability, accounting serves as a crucial tool for management to navigate challenges and seize opportunities in a competitive […]
Affordable Accounting and Tax Compliance Packages for Businesses
Affordable Accounting and Tax Compliance Solutions in UAE The UAE has been a hub for businesses across all sectors. With the growth of industries and businesses, the accounting sector is also growing at a fast pace. We understand that accounting is an industry that thrives on trust, transparency, and adding value. Being transparent about pricing […]
Everything You Need to Know About Trade License Renewal UAE
Trade License Renewal UAE: Why It’s Essential for Your Business? A trade license is the most crucial license to carry on business in the UAE. A trade license is a legal document for conducting business in the UAE. It ensures that the business is operating within the laws and guidelines of the government. Trade licenses […]
Why is Zoho Books Accounting Software Gaining Reliability Among Businesses in UAE?
Discover Why Zoho Accounting Software UAE Stands Out Among Competitors There is no doubt that the UAE is emerging as an epicenter for growing start-up businesses. Moreover, it is also a nurturing ground for small and medium enterprises to flourish. Small and medium-sized businesses require reliable yet robust accounting solutions that meet their unique demands […]
How Odoo is Helping Businesses in UAE?
Why Odoo is Perfect for UAE Businesses? The UAE is emerging as a global hub for growing businesses and start-ups. With its dynamic market, the business requires a robust tool to stay in the competition. Odoo has emerged as a leading business management software providing accounting, CRM, project management, etc., under a single roof. In […]
UAE Transfer Pricing Regulations | Final Call For Disclosure
Understanding UAE Transfer Pricing Regulations and Disclosure Requirements FINAL CALL FOR TP DISCLOSURE COMPLIANCE With the UAE Transfer Pricing (TP) Disclosure Form deadline approaching, businesses must prioritize compliance with tax regulations. As outlined in Article 55 of Federal Decree-Law No. 47 of 2022, Taxable Persons are required to submit a disclosure form alongside their Tax […]
Financial Year in UAE
Understanding the Financial Year in UAE: Key Insights The financial year is an important factor for individuals, businesses, and entities worldwide, as it is generally defined as a period of twelve months to calculate their budgets, profits and losses, taxes, etc. Duration of the Financial year: In the UAE, the financial year typically starts from […]
How to Set up or Open a Mainland Company in Dubai?
The booming economy, investor-friendly policies, and strategic location of Dubai attract entrepreneurs from around the world. Opening a mainland company offers numerous benefits. For detailed information, refer to our blog on mainland vs. freezone, link- https://bcl.ae/setting-up-a-business-in-uae-mainland-vs-free-zone/. Why choose any consultant? Starting a business in Mainland Dubai provides the business with immense opportunities but also requires […]
How to Open a Company in IFZA?
IFZA Company Formation: Benefits and Requirements: International Free Zone Authority (IFZA) offers dynamic and economical environments for setting up a business in the UAE. The essence of this freezone lies with the fact that this freezone is in Dubai, offering Dubai emirates unlike other freezones offering other emirates. Moreover, its cost-effectiveness sets it apart from […]
How to Prepare for an Year-End Audit in Dubai, UAE?
Essential Year-End Audit Tasks for UAE Businesses As the year-end approaches, the businesses in the UAE must get ready to finalize and prepare a smooth transition to the new year. Year-end accounting aids in smooth audit functioning, compliance with UAE laws, and provides the management with a clear picture of the performance of the business. […]
Mainland vs Freezone, Choosing the Right Setup for Your UAE Business
Setting up a Business in UAE | Mainland or Free Zone Guide UAE offers immense business opportunities due to its strategic location, investor-friendly policies, and growing economy. However, the first step for the entrepreneur is to evaluate the setup in which he wishes to start his business. UAE has two ways of setting up business […]
UAE Transfer Pricing Disclosure Form: TAX ALERT
UAE Transfer Pricing Disclosure Form Overview The UAE Federal Decree-Law No. 47 of 2022, which governs the taxation of corporations and businesses, mandates that taxpayers submit a Transfer Pricing (TP) Disclosure Form along with their Corporate Tax Return. This disclosure form requires information on arrangements with related parties, as stipulated in Article 55(1). The Federal […]
UAE Regulatory Update- ESR No More!!
UAE Regulatory Update: End of ESR Filing and What It Means for Businesses The UAE is a leading provider of business-friendly environments, recognized for its simplified regulations and ease of doing business. With the introduction of VAT and Corporate Tax (CT), companies were required to comply with ESR in addition to the CT and VAT […]
Understanding Management Remuneration Deductions under Corporate Tax UAE 2023
Corporate Tax UAE 2023: Can You Claim Management Remuneration? The United Arab Emirates (UAE) has introduced a corporate tax law on 1st June 2023. While this is a significant development for the country’s economic growth, it also raises several questions for businesses operating there. One such question pertains to the deductibility of management remuneration for […]
What Does Full-Service Bookkeeping Include?
For any growing business, it is important to track and manage the daily transactions. Bookkeeping and accounting often equip business management to make informed decisions. Full-service bookkeeping takes this further by offering support to handle the financial aspect of the business. In our blog today, we explore what exactly full-service bookkeeping includes. What are Book-keeping […]
Get Affordable Monthly Accounting Services in Dubai with VAT Support
Monthly Accounting Services in Dubai – Expert Accounting Solutions Get professional monthly accounting services in Dubai, including VAT compliance and business advisory. Explore monthly accounting services in Dubai with tailored packages starting from AED 350/month. Affordable Accounting Services in Dubai Packages Type of Companies Monthly (In AED) Annually (In AED) Micro Companies 350 4200 Small […]
Why You Should Prioritize an Audit in The UAE for Your Business?
The Importance of Audit in UAE for Businesses in Freezones An audit is a process in which a qualified independent entity reviews and evaluates the effectiveness of internal controls, identifies potential risks for fraud or inaccuracies, provides guidance to strengthen existing processes, and issues a report with their opinion to ensure alignment with statutory requirements […]
Difference between an Accountant and an Auditor
Understanding the Core Difference Between Accountant and Auditor Roles The two professions—accountant and auditor—seem synonymous for the outer world. While both professions play a crucial role in managing financial data, there is a wider gap in their roles and responsibilities. In this blog, let us explore the difference between an accountant and an auditor. This […]
Corporate Tax Return UAE: What You Need to Know Before Sept 30’2024
UAE Corporate Tax Filing: 2024 Return Due Date is Sept 30 The UAE’s introduction of a corporate tax is a significant step towards a more diversified economy. Effective from 1st June 2023, the new tax regime applies to businesses with annual taxable income exceeding AED 375,000. This landmark change aligns the UAE with international tax […]