UAE Corporate Tax Registration: Companies may need to register for corporate tax, even if they are already VAT registered. Starting June 1, 2023, corporate taxes will be implemented on businesses in the UAE. To effectively handle these new regulations, it is important to understand the administrative responsibilities like tax registration, deregistration, submitting corporate tax declarations, …
According to the International Free Zone Authority (IFZA), businesses must meet certain financial requirements to maintain their license. One common question is whether an audit is mandatory during the license renewal process. An audit involves a thorough examination of a company’s financial records, practices, and controls. While IFZA does not explicitly state that all businesses …
Do You Know Audit Is Mandatory For IFZA License And Renewals? Read More »
The UAE Ministry of Finance has recently declared the implementation of a 9% federal corporate tax on business profits, effective from the start of the financial year on June 1st, 2023. This tax will apply to companies earning above AED 375,000. It is worth noting that the corporate tax rate in the UAE is …
Audit firms strongly advise business owners in Dubai to adopt efficient document management practices to streamline and simplify the annual audit procedure. Regardless of the size of your organization, external audits can be time-consuming and demanding, necessitating extensive preparation and effort. When undergoing an audit, auditors in Dubai will request specific records and documents to …
The Role of Effective Document Management in Streamlining Audits Read More »
In the UAE, appropriate individuals frequently carry out the building and management of mosques. The UAE’s standard procedures for refunding VAT did not allow for the recovery of input tax because it does not qualify as a commercial activity. According to Cabinet Decision No. (82) of 2022, the UAE now permits the Refund of Input …
FTA Guide on Refund of VAT on Building & Running Mosques Read More »
One of the negative habits small business owners need to break is not balancing their bank accounts. For a small business, regular bank reconciliation is essential to identifying errors, preventing fraud, and confirming cash flow. Accounting firms in Dubai can help you with this important activity if you lack experience with bank reconciliation or are …
Why Bank Reconciliation Is Important for Accounting in a Small Businesses? Read More »
Not all nations impose a 9% corporation tax! Your company is fortunate to have its headquarters in one of the few tax haven nations in the world. Whether paid by businesses or people, a sizeable sum of money is typically paid to the government in the form of taxes (there are many!). A startling 60% …
The UAE Golden Visa system, which was put into place in 2019, has caused quite a stir among some expatriate groups with aspirations of obtaining permanent residency in the United Arab Emirates. Foreign nationals can live, work, conduct business, and study in the UAE without needing a local sponsor thanks to the Golden Visa system. …
UAE Golden Visa – Are You Eligible for the Highly Desired Residency Visa? Read More »
Insurance packages are being introduced to reach high-net-worth individuals as the number of UAE residents with Golden Visas grows daily. The National Health Insurance Company (Daman), a major health insurance provider in the UAE, states that the annual premium for holders of Golden Visas starts at just Dh2,393 and offers a coverage maximum of up …
UAE Golden Visa holders will receive a special insurance package Read More »
The UAE government has occasionally announced a number of programs and regulations to help and support its inhabitants’ needs, making living in the Emirates easier. For more information on Esaad, the advantages of the program, and how to apply, please continue reading. ESAAD was introduced in March 2017 as a special humanitarian community quality effort, …
What Are the Benefits of an Esaad Card in Dubai and How Do I Get One? Read More »
Holders of 5- and 10-year residency visas, which now number 65,000 inhabitants, will receive an Esaad card. The government-issued Esaad card, which was previously only accessible to selected government employees, will be given to holders of the UAE’s long-term Green and Golden Visas. With this card, they will have exclusive access to deals and …
UAE Golden Visa holders will receive a special Esaad Privilege Card from the government Read More »
The Sharjah Airport International Free Zone (SAIF Zone), which was founded in 1995, has a solid reputation as a preferred free zone among businessmen looking to invest in the Sharjah emirate. Companies operating in the free zone must have their books of accounts audited by auditing firms registered with the SAIF Zone, according to a …
The value of outsourcing Audit Firms in Dubai, United Arab Emirates One of the most crucial elements of doing business globally is auditing. It reassures you that you are doing business with trustworthy organizations, which in turn convinces potential partners that you are a reliable partner. The UAE is renowned for being a vibrant central …
Accounting could be a crucial element in a company’s operation. When their business activity rises and systems need to alter, several expanding organizations find it challenging to develop well-tuned accounting processes. Strong accounting procedures enable you to base your decisions on current information and improve them. You must verify the comprehension and application of the …
How well-versed in the fundamentals is your accounting service provider? Read More »
With the government’s announcement of the Corporate Tax, the landscape of tax compliance in the UAE is poised to undergo a paradigm transformation. Businesses have been obliged to evaluate their eligibility and compliance needs due to the UAE corporation tax, which is anticipated to go into effect on June 1st, 2023. Despite the fact that …
A Guide to Filing, Documentation, and Other Important Requirements for UAE Corporate Tax Read More »
In the long term, no startup can afford to be cash-strapped. Although many startup founders have amazing ideas, this does not guarantee that they will be able to pursue their ideal firm. In such a setting, attracting outside investment is vital for a firm to proceed to the next level. A solid business idea, on …
How Can Dubai Audit Firms Assist Startups in Attracting New Investors? Read More »
Free zones have traditionally been excluded from the territorial scope of the UAE’s VAT rules. Only those free zones mentioned in a Cabinet Decision are eligible for preferential VAT treatment, according to UAE VAT legislation. Designated Zones are such free zones, and enterprises must be aware of the VAT treatment of services obtained in them …
A VAT Guide for Services Received in UAE Designated Zones Read More »
Visas for jobs, business, tourism, visits, studies, and temporary labor missions are among the new forms of entry visas that do not require a sponsor. All entry visas are available for single or multiple entries, as well as a variety of visa categories for various purposes. This is a first because it does not require …
UAE visas for jobs, tourism, and visits: A new entry system has been announced. Read More »
UAE skilled employees can now get a 5-year residency visa without a sponsor The UAE Government Media Office has issued a pair of circulars with updated information on the country’s visa policy. Residence permits, entrance, and Golden visas are the three new categories of visas. The UAE Cabinet, led by His Highness Sheikh Mohammed bin …
Green Visa for the UAE: A 5-year residence program has been announced. Read More »
The UAE Government Media Office has published a pair of circulars with updated information on the country’s visa policy. The new visa types are divided into three categories: entrance, resident permits, and Golden visas. The UAE Cabinet, led by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the United Arab …
As part of the revised Entry and Residence Scheme, the UAE has modified the conditions for the Golden Residence visa. The UAE Government Media Office has issued a pair of circulars with updated information on the country’s visa policy. Residence permits, New Entry, and Golden visas are the three new types of visas. Each has …
UAE Golden Visa residence program has been enlarged, and the rules have been modified. Read More »
Approved Auditors in Fujairah Creative City for your Company Audit and Related Business Solutions Fujairah Free Zone (FFZ) stands among the most popular free zones within the Fujairah Emirate, positioned adjacent to the Fujairah port. Regulation of all businesses operating within the Fujairah Free Zone is under the Fujairah Free Zone Authority (FFZA) regulation, which …
Companies operating in the Dubai Airport Free Zone are required to have their books of accounts audited by one of the Dubai Airport Free Zone’s registered audit firms. Audit firms that are not registered with the Dubai Airport Free Zone Authority (DAFZA) are not permitted to undertake audits or liquidations for DAFZA-licensed businesses. It’s also …
Approved Auditors in Dubai Airport Free Zone Authority (DAFZA) Read More »
Auditing is required for all companies registered in the Dubai South Free Zone (DWC) under the SAIF Zone. According to the rules of the Dubai South Authority, companies registered under Dubai South (DWC) are required to appoint only approved auditors in DWC. Additionally, these licensed auditors should audit the books of accounts in DWC every …
Approved Auditors In Dubai South Free Zone (DWC) Read More »
Dubai Silicon Oasis (DSO) was first started in 2004 and has since maintained a very high standard both in the mode of operation and in the quality of services. Governed by very high standards, Dubai Silicon Oasis Authority (DSOA) is a free zone with a global reputation as owned and managed by the Dubai Government. …
Registered And Approved Audit Firms in Dubai Silicon Oasis (DSO) Read More »
For all companies registered within the expanse of Jebel Ali Free Trade Zone (JAFZA), it is mandatory that all financial audits for the company be conducted by a JAFZA approved auditor. This means that you should identify and go for one of the Auditing Services in the JAFZA free zone and have an external audit …
KIZAD Industrial Zone, otherwise called Khalifa Industrial Zone is an Abu Dhabi-based project featuring a Free Zone initiated by the UAE Government. The main motivation for this project was to introduce a new life to the country’s industrial sector. As a concept, Khalifa Industrial Zone Abu Dhabi (KIZAD) started in 2010 and took off two …
Top UAE Authorized & Approved Auditor in Khalifa Industrial Zone Abu Dhabi (KIZAD) Read More »
The UAE has laid the groundwork for the introduction of Corporate Tax, a type of direct tax levied against the net income or profit of a business or company. SSet to commence during the June 1, 2023 financial year, this federal law was initiated by the UAE Ministry of Finance on January 31, 2022. The …
Understanding the Corporate Tax UAE and Its Potential Impacts on Your Business Read More »
The business sector in UAE is promising and investors have identified the region as the go-to place for their investment. This is made possible by the positive business climate that the government of UAE has established, helping businesses grow. The political atmosphere in the UAE is also favorable for good business operations. One of the …
UAE Auditors Helps For All Your UAE Golden Visa Needs! Read More »
The Ministry of Finance department has declared that the UAE will introduce a federal corporate tax on business profits which will be effective for financial years beginning on or after June 1st, 2023. Businesses will become subject to UAE corporate tax from the beginning or start of their 1st financial year that starts on or …
UAE announced 9% Corporate Tax from 1st June, 2023. Read More »
The corporate landscape in Dubai endures a very tough regulatory environment that has raised the bar higher for organizations. Resultantly, most companies in Dubai are suffering losses financially, having to operate under losses versus imagined profit. Even in the presence of internal auditors, the challenges persist because of the question of objectivity and how it …
7 Benefits of Hiring External Auditors in Dubai, UAE Read More »
The UAE government has declared a vast modification to the working week for all federal government entities. The UAE will switch its weekend to Saturday and Sunday for government entities, as UAE wants to bring itself additional or more in line with the rest of the globe. The government stated it’ll adopt a 4-1/2 day working week, with Friday – …
VAT Registration Services Intellect Chartered Accountants is giving VAT registration services in Dubai, UAE to urge the Tax license number (TRN) for your company in UAE. It’s required for all the businesses and people having a year-end profit of DH 375,000 or additional to register for VAT within the United Arab Emirates. The UAE government-enforced VAT …
According to a new announcement from the RAKEZ Authority, the Ras Al Khaimah Economic Zone (RAKEZ), founded by the government of Ras Al Khaimah, has made auditing essential for enterprises operating in the RAKEZ starting in 2020. Within six months after the conclusion of the company’s financial year, companies must submit a copy of their …
Our Accounting Service and Vat Packages… Accounting Service We would like to be your financial partners to help you grow, hence would propose to work with you. We are a team of Chartered Accountants who can help you with daily, weekly and monthly financial reports while taking care of your accounting needs In this way, you as …
Accounting services in U.A.E Accounting firm in Dubai is one of the most vital functional area in a business. It helps to track the company’s financial transactions and keeps a check on future transactions. It also helps to determine the financial position, VAT transactions and to make any vital decision in a particular period. We …
Dubai says no new fees, additional capital required for 100% business ownership by foreign nationals Dubai: The foreign owner of a business enterprise in Dubai will not need to raise additional capital or pay new fees to become the sole owner of a the entity. This was clarified by the Dubai department for Economic Development …
