Businesses are constantly under pressure to perform better and develop original solutions due to shifting stakeholder expectations and dynamic market patterns. Internal audit is an excellent tool for assessing the overall performance of any firm or organization. Regulation compliance, data…
A feasibility study is a vital step for business owners to do in order to establish whether or not their project or business idea is suitable for commercialization. It comprises conducting an exhaustive analysis of the market environment, determining whether…
Penalties for Failure to Comply with Economic Substance Regulation, UAE The Cabinet Resolution No. 57 of 2020 established administrative fines for numerous Economic Substance Regulations infractions (ESR). The number of fines for infractions committed by both Licensees and Exempted Licensees…
A new resolution lists the breaches as those that fall under the definition of the Cabinet Resolution No. 21 of 2020 governing service charges and administrative fines by the ministry and its amendments. The violations are defined in a newly…
Business ideas in Dubai might invigorate your entrepreneurial spirit and generate a substantial return on investment.
UAE’s National ICV Program In the UAE, obtaining an In-Country Value (ICV) certification has grown to be one of the most crucial requirements for operating a successful business. The Abu Dhabi National Oil Company (ADNOC) introduced the ICV programme for…
By evaluating the effectiveness and consistency of their best practices, firms can achieve their corporate objectives by consistently doing internal audits. An internal audit seeks to guarantee that corporate policies and processes are carefully followed, as opposed to an external…
Emphasis on Risk Approach The primary role of internal audit function is to support an organization in achieving its objectives. By definition, the internal audit function provides a systematic approach to evaluate and improve the effectiveness of risk management and…
About DMCC The acronym DMCC stands for Dubai Multi Commodities Center. It is one of the largest and most well-known free zones in the UAE. It is situated in the Jumeirah Lakes Towers district of Dubai. Over 14,000 businesses call…
Why are Directors’ Services Vatable? The general rule is that directors’ independent service (services other than those rendered in the capacity of employee) to their company is considered taxable supply for VAT purposes. The Federal Decree-Law No. (8) of 2017…