Author name: pkumar

VAT-Related Mistakes Made by Businesses in UAE

Common VAT-Related Mistakes Made by Businesses in UAE: A Comprehensive Guide to VAT Compliance

Understandably businesses in the UAE surmount several challenges. When coming to Value Added Tax (VAT) compliance, and most of them make errors that result in penalizations and legal hassles. As experts in accounting and tax services, we have created a comprehensive guide to help you avoid the most common VAT-related mistakes in UAE. This guide …

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VAT Audit Notifications in UAE on the Rise: Are You Prepared for FTA Audits?

The introduction of VAT in the UAE has completed five years, and it has brought mandatory record-keeping and FTA audits into the spotlight. As a result, many companies have already received a notice to start the VAT audit process, which requires them to maintain records for additional years, as per the FTA requirement, from the …

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corporate tax in uae

What are Corporate Tax benefits that businesses avail in UAE?  

Corporate Tax comes to UAE – Summary   The newly implemented UAE Corporate Tax will now apply to all businesses in the Emirates, with the exceptions of mining industries and any work involving extraction of natural resources, which would still remain subject to Emirate level corporate taxation. All foreign entities and individuals likewise shall be …

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corporate tax in Dubai

What are the taxable and accounting profits of corporate tax in Dubai?

In the recent few years, the UAE experienced significant tax changes with an objective to streamline its tax system and bring it in tandem with international best practices, also diversifying its state revenue. Starting with the implementation of Value Added Tax (VAT) in January 2018, and followed by the introduction of economic substance rules (ESR) …

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vat in uae

How does VAT vary for different businesses in the UAE?  

In the UAE VAT is broadly classified as taxable supplies in businesses, which include both zero-rate supplies and exempt supplies. Taxable supplies are levied a standard rate of VAT at 5% whereas on zero-rated and exempt supplies, no tax is levied. However, the VAT treatments for zero-rated and exempt supplies are quite different.   The applicability …

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Accounting and bookkeeping in uae

Interesting fact about Accounting and Bookkeeping in UAE

Accounting & Bookkeeping in Dubai, UAE.  Here Are Some Interesting Facts That Maybe Be Unheard Of.  The UAE, and Dubai specifically, are active business hubs. Owing to the fact that Dubai’s economy has been flourishing, there are millions of aspirants who not only wish to work here but also plan to set up their permanent …

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corporate tax in Dubai

What are the corporate tax regulations in the UAE specific to the oil and gas industry?

Each passing day, the world’s shifting gears towards a unified collaborative model amidst all industry sectors and fields aiming to achieve different goals while carving tangents at a wider level. Setting up a business with investments and stakeholders worldwide, is a great growth opportunity for every investor post pandemic. Currently, AE is advancing its taxation …

What are the corporate tax regulations in the UAE specific to the oil and gas industry? Read More »

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