Digital banks There’s no doubt that digital banking is becoming popular in the UAE as well as all across the globe. Although traditional banks offer online bank facilities, users will be asked to visit the bank to create a bank account. With online banking, users have...
An audit is a statutory, independent review of financial records in any organization. An audit report reflects an honest account of the financial position of an organization. Companies can also learn about the compliance of financial records with established accounting standards and set laws governing...
The banking sector in Dubai falls under the regulation of Federal Law no. 10 of 1980 and Federal Law no. 6 of 1985. The Central Bank of the UAE is the supervisory body of financial institutions in Dubai. All commercial banks in Dubai are required...
When you run a small enterprise or large enterprise, you would need accounting services. Accounting services assist in keeping firms on track with respect to various payments, financial growth, bookkeeping, and operational costs. To maintain financial stability, professionals often advise small or newly established firms...
On April 28, 2022, the Ministry of Finance made the proposed UAE business tax document available for public comment. Companies or businesses registered in free zones are referred to as "Free Zone Persons" (FZP) from now on. These Free Zone Persons will be subject to...
It Known also as the "ESR," the Economic Substance Regulations were formally introduced to the United Arab Emirates on April 30th, 2019, by Cabinet of Minister Resolution No. (31) of 2019. According to Cabinet Decision No. 57 of 2020 concerning Economic Substance Requirements ("Decision 57") and...
Golden Visa were approved for the first time in late 2020. People who have made a significant contribution to the country, have highly valued abilities, or operate in essential areas that are critical to economic growth are granted this 10-year residency permit. What is a golden...
Zoho Corporation is chiefly known as a company that creates cloud-based business apps for businesses. Zoho Books, an accounting tool that fulfills the majority of small business needs—and more—is one of its products. In traditional bookkeeping areas including sales and purchases, time and project tracking,...
The process of documenting, evaluating, and interpreting financial transactions and information is known as business accounting. It is the method by which a company maintains track of its operations. It might be tough to keep track of these transactions at times, which is where accounting...
Accounting is the systematic approach to keep a comprehensive record of all the financial transactions of any entity or organisation. The balance sheet that accountants prepare provides businesses with a clear picture of their financial condition. Income statement, on the other hand, gives owners information...
