Is Audit Season approaching? No worries! We are here with this ultimate checklist to navigate your internal auditing process smoothly and confidently. From a mere compliance check to a strategic decision-making process. Internal auditing has evolved from a mere compliance…
From data analysis to decision making, AI is revolutionizing the accounting and finance industry. As we investigate the dynamics of accounting and finance, the practical implementation of AI technology presents impressive growth in enterprises by increasing efficiency and accuracy. Embracing…
Tax Alert! Bahrain to Introduce Domestic Minimum Top-up Tax for MNEs On September 1, 2024, the Kingdom of Bahrain introduced the domestic minimum top-up tax (DMTT) for large multinational enterprises (MNEs), by releasing the Decree Law (11) of 2024. Moreover,…
Key Updates to DMCC Regulations and Licensing Rules You Need to Know The Dubai Multi Commodities Centre (DMCC) has recently updated its regulatory framework, with new rules coming into effect on October 10, 2024. These changes are designed to simplify…
Navigating FTA’s UAE Corporate Tax Guide – Real Estate Investment for Natural Persons On 24 October 2024, the UAE’s Federal Tax Authority released a comprehensive guide that outlines the implications on income derived from real estate investments for natural persons….
The International Financial Reporting Standards (IFRS) for Small and Medium-sized Entities (SMEs) were developed by the International Accounting Standards Board (IASB) as a simplified framework for smaller businesses. These standards cater specifically to entities that do not have public accountability,…
VAT Update Alert! Amendments On Executive Regulations Effective From 15th November 2024 On 2 October 2024, The UAE Federal Tax Authority released amendments to VAT Executive Regulations of Federal Decree-Law No. 8 of 2017 by publishing Cabinet Decision No. 100…
VAT Public Clarification (VATP038) on Manpower & Visa Facilitation Services in UAE On 31 May 2024, the Federal Tax Authority (FTA) issued VAT Public Clarification VATP038 regarding the VAT treatment of manpower and visa facilitation services concerning employment visas and…
Overview Federal Decree-Law No. 47 of 2022 on Corporations and Businesses (“Corporate Tax Law”) was issued on 3 October 2022 and published on 10 October 2022 in Issue #737 of the Official Gazette of the United Arab Emirates (“UAE”). The…
While COVID-19 may have slowed down certain activities, as well as inadvertent breakdowns in financial reporting matters. Consequently, global regulators and watchdogs have issued reports and standards to address these concerns. In this edition of the Audit & Accounting Alert,…