The cabinet of ministers of UAE made new changes to the Economic Substance regulations. This was done to determine the actual profits earned by the entities which will eventually help the economy of UAE.  The new Economic Substance Regulations are…

“As part of the UAE’s commitment as a member of the OECD Inclusive Framework, and in response to an assessment of the UAE’s tax framework by the European Union Code of Conduct Group on Business Taxation, the UAE issued Economic…

Value Added Tax (VAT) was introduced in the UAE on January 1, 2018, as part of a broader economic diversification strategy across the Gulf Cooperation Council (GCC) countries. For businesses operating in the UAE, understanding and complying with VAT regulations…

“In April 2019, the UAE issued Cabinet of Ministers Resolution No. 31  concerning Economic Substance (“Resolution 31″) as part of its commitment as a member of the OECD Inclusive Framework, and in response to an assessment of the  UAE’s tax…

ADNOC In-Country Value (ICV) certificate is a program for suppliers. It is a process of ADNOC suppliers of goods and services calculating their certified ICV scores and submits, in order to show how they are helping to deliver In-Country Certificate…

Audit firms in Abu Dhabi serve an important role in ensuring that organizations maintain financial transparency, regulatory compliance, and excellent corporate governance. They offer a variety of services, including statutory and internal audits, financial statement preparation, compliance assessments, VAT and…

An indirect tax levied on all the goods and services consumed is the VAT- Value Added Tax. More than 160 countries throughout the world adopted this. One of the most dynamic countries of the world is the Middle-East country UAE….

The introduction of the taxation system by the FTA-Federal Tax Authority played a vital role in expanding business in UAE. FTA UAE has initiated the registration process for tax agents.  In this blog, let us discuss in detail the tax…

There are a lot of transactions happening in a firm. The transactions are too numerous to remember all of them. Therefore, bookkeeping is a means to make this easier. Bookkeeping is the process of recording and verifying day-to-day transactions in…

VAT or Value Added Tax was introduced  by the Government of the UAE. The UAE VAT law requires businesses having taxable supplies and imports worth over AED 375,000 to register under the VAT regime. VAT registration in UAE for new…