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.
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 […]
What you should know about Direct debit in the UAE
It was recently announced that the UAE Central Bank has approved of a direct debit marketplace making it easier for both merchants and customers to make their monthly payments. Before we look at this any further we need to know, what is direct debit?When you allow for direct debit it means that you give a […]
What you should know about UAE Tax Invoices
As in many other countries, in the UAE there is a Value Added Tax (VAT) charge on most goods and services provided and once your business has exceeded the mandatory registration threshold of AED 375,000 you are required to register for VAT. Thus you become what is referred to as a registrant and now you […]
UAE Insurance for involuntary loss of employment
Starting from 1 January 2023 the UAE introduced Involuntary Loss of Employment (ILOE) Insurance. What is ILOE?ILOE stands for Involuntary Loss of Employment. This unique scheme provides security for employees who lost their jobs due to reasons other than disciplinary action or resignation until they find a new job. Who is eligible for subscription? All […]