The Value Added Tax (VAT) is a consumption tax that is applied to most services and goods sold in the UAE. Businesses that are registered for VAT are needed to file VAT returns on a quarterly and monthly basis. Filling VAT returns can be a difficult...
Most startup owners in Dubai do not like carrying out an annual audit and view it as a regulatory compulsion. However, they fail to understand that audits conducted by the best auditors in Dubai can bring fortune to their business. An annual audit gives you...
As corporate tax is effective now in UAE, more business owners are now approaching tax consultants. As it is effective now, we can carry out an assessment of the impact of the UAE corporate tax on legal persons. Businesses are cautioned to follow the UAE...
Companies in the UAE are needed to maintain their books of accounts as per the UAE Law and the rules of free zone authorities. However, there are many businesses, especially small businesses who are yet to keep their books of accounts. Corporate tax consultants in...
During an audit, the Dubai auditors will request access to a lot of company information. Audit firms in Dubai ask for this information to know that their practices comply with proper regulations. Auditors in the UAE may require key information including employee data, payroll, and...
If you are the owner of an SME new to the UAE business landscape, you may be trying to prepare your audit. Some SME owners can find it difficult if the first audit of their company. Improper preparation will leave you tensed and frustrated when...
Business slowdowns are a common occurrence, and they can be difficult for businesses to weather. However, by taking steps to improve their accounting strategy, businesses can increase their chances of surviving and thriving during a slowdown. In this blog, we will discuss some key tips for...
When your small business progresses and grows there will be a point in time that requires an upgrade of the company’s reporting and accounting system. Improving the reporting and accounting system helps the business entity to better its reporting process and provides them with insights...
A letter of credit (LC) is a report given by a bank in line with a client (the candidate) that ensures installment to an outsider (the recipient) for labor and products given. In international trade, LCs are frequently utilized to lessen the likelihood of nonpayment. LCs...
The use of bank guarantees is popular among business owners seeking corporate finance services in Dubai. A bank guarantee is a promise by a commercial bank to the beneficiary that it will assume liability for the debtor if it fails to meet the obligations. Bank guarantees...
