UAE Corporate Tax Losses Explained: A Hidden Gem for Your Business
Confused about UAE Corporate tax law and dividends income? No more confusion after you read this article!
Understanding Dividend Income under the UAE Corporate Tax Law
Confused about UAE Corporate tax law and dividends income? No more confusion after you read this article!
Running a Foreign Company from Dubai? Here’s What POEM Means for You
In simple terms, POEM stands for Place of Effective Management. Under the UAE Corporate Tax rules, POEM helps determine where a company is really managed from, especially if it’s not a company officially registered in the UAE but in another country such as the UK or Germany. The following things you should keep in mind […]
Is an Outsourced Accounting Firm a Good Decision for Your Company?
I am frequently asked whether hiring an accounting firm as opposed to hiring an in-house bookkeeper is a good decision. Having worked as an in-house accountant (finance manager, to be precise), freelance accountant, and now as the owner of an accounting firm, I strongly believe that the accounting firm route is not for every small or medium-sized business (we will leave big companies aside, the ones that need not just one accountant but rather a whole department). However, if you are a small or medium-sized company where one accountant is enough, please read on.
Corporate Tax in a nutshell
Since its initial introduction, Corporate Tax has been the talk of the UAE with laws, guides, ministerial decisions and quite a few workshops all happening within the short space of a few months. This blog will help break down everything we know about it thus far as it is important for (almost) all businesses in […]
Payment gateways in the UAE
The most crucial part of any transaction is the payment and with technology advancing everyday the process for accepting payments has changed a few times over the last years. Payment gateways come into play as they provide a “gateway” to accept debit or credit card purchases from customers. This is not only in physical stores […]
UAE Corporate Tax: 5 most important fines
FTA issued much awaited list of penalties for violations related to Corporate Tax application. Here is the 5 most important ones: # Violation Name Fine Amount, AED 1 Failure of the Person to keep the required records and other information specified in the Tax Procedures Law and the Corporate Tax Law. One of the following […]
Changes to Tax Procedures Every UAE Business Owner Should be Familiar With
Last week UAE FTA issued a new Tax Procedures Regulation which repealed Cabinet Decision No. 36 of 2017 on the Executive Regulation of Federal Law No. 7 of 2017 on Tax Procedures that was issued back in 2017. The new regulation comes into force on the 1st of August 2023 and contains some very important updates that every business owner should be compliant with.
Financial statements you need to know
It is always important to keep track of your finances when running a business and whether you have an accountant doing that for you or you are doing it yourself, there are 4 statements that can really help with this process. In this blog we will be looking at the basic statements all businesses should […]
Emiratisation: Building an Inclusive and Competitive Economy in the UAE
In this blog we will talk about an important initiative that is shaping the workforce landscape in the United Arab Emirates – Emiratisation. As your trusted accountant, I believe it’s crucial to keep you informed and engaged in the latest developments that can impact your business. As you know, Emiratisation is a hot topic in […]