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 UKPenalties under the UAE Corporate Tax Law
With the introduction of a federal corporate tax law, the United Arab Emirates (UAE) has undergone significant changes in its tax arena in recent years. This new legislation has implications for businesses operating in the UAE, including foreign companies with a presence in the country. One crucial aspect of this tax framework is the enforcement […]
Audit Requirements in the UAE: Are All Companies Required to be Audited?
Introduction The UAE is well-known for its rapidly expanding economy and thriving business environment. With a multitude of companies operating within its borders, it is essential to maintain transparency and financial integrity. One crucial aspect of ensuring this transparency is through auditing. Auditing serves as a means to verify the financial accuracy and compliance of […]
Top 9 UAE Digital Banks to Watch
The banking landscape has undergone a significant transformation in recent years, thanks to the rise of digital banks. These financial institutions provide their customers with a convenient and efficient way of managing their finances exclusively online. In the United Arab Emirates (UAE), the digital banking sector has been growing rapidly, providing residents with innovative banking […]
Is Accounting Mandatory in Dubai?
Over the last few decades, Dubai has seen enormous growth and development. It has established itself as a global business destination due to its diverse economy, which extends across sectors such as trade, tourism, real estate and finance. One crucial aspect of doing business in Dubai, or anywhere else in the world, is Accounting. But […]
Common Mistakes Filing VAT Returns in UAE? Avoid these
Value Added Tax (VAT) is a consumption tax that has been implemented by many countries around the world, including the United Arab Emirates (UAE). Since its introduction in the UAE on 1st January 2018, VAT has become an integral part of the business landscape. It was introduced to compensate for the decline of oil industry […]
Types of Company Registration in Dubai
Entrepreneurs and investors looking for lucrative opportunities in the Middle East are largely attracted to Dubai, a booming city and business centre of the United Arab Emirates (UAE). Dubai appears to be a strong choice for the formation of companies, as it is strategically situated and has world class infrastructure and an atmosphere conducive […]
Start a Business in Dubai as a Foreigner
Dubai, the thriving hub of the Middle East, has become a magnet for foreign entrepreneurs seeking to establish their businesses. It provides many opportunities for entrepreneurs to start their businesses in the Middle East, as it is strategically located, has a strong economy and an attractive business environment. Navigate the below process if you consider […]
Benefits of Outsourcing Accounting Services in Dubai, UAE
Outsource Accounting Services in Dubai It is undeniable that the introduction of corporate tax in the United Arab Emirates (UAE) has had a tremendous effect on business culture and practice which will, indeed, contribute positively to the country’s economy. With the new law in force, business owners have a greater responsibility to comply with accurate […]
Transfer Pricing – End is the New Beginning
United Arab Emirates (UAE) has always been an attractive destination for businesses due to its strategic location, business-friendly environment, world-class infrastructure and a tax-free country. The country has recently introduced a new tax law known as the Federal Corporate Tax (“Corporate Tax Law”). This law aims to establish a legal framework for the collection and […]
What is VAT? A Value-Added Explainer for UAE Taxation
One of the unequivocal truths about taxation is – neither anyone likes to have it nor everybody wants to pay it! When such is the case, a Value Added Tax sounds like an oxymoron. No wonder the history of VAT began during the First World War. although German industrialist Wilhelm von Siemens proposed the concept […]