A gesture of an organization’s gratitude for an employee’s loyal service is the basic notion behind the remuneration of gratuity. This simple gesture has become strictly governed by the law to ensure the employee’s well-being. A gratuity helps a lot…

Value Added Tax (VAT) has been the most recent addition to the taxation laws in the UAE. VAT was introduced on the 1st of January 2018 and has been fixed at the rate of 5%. The TRN is also closely…

With its numerous benefits and adaptability, cloud computing has recently become widely used. Due to its remote accessibility features, COVID-19, which slowed the expansion of many businesses and organisations, accelerated the growth of cloud technology. You’re a smart accountant who…

Every corporation is expected to maintain records of its financial transactions, deals, activities, and transfers. The information contained in such records is subsequently used by chartered accountants to prepare audited financial statements and reports like as balance sheets, profit and…

Being a well-known accounting firm in Dubai, UAE for more than ten years has taught us at KGRN Accounting Associates that most business owners are unaware of the effects poor account recordkeeping may have on the health of their organisation….

The ESR compliance in UAE is an additional substance requirement added to improve the accountability of business entities. The Economic Substance Regulations are to be carried out for the relevant activities in the UAE. In this case, let us look…

All about Economic Substance Regulations(ESR) in UAE What is the “Distribution and Service Centre” Business? The Business “Distribution and Service Center” refers to two separate types of activity, which are covered by one heading “Relevant Activities”. Hence, a UAE entity…

Do the Economic Substance Regulations UAE only apply to UAE entities that are part of a foreign multinational group or foreign shareholder? Nope. The rules establish the requirements for economic substance regulations UAE for any UAE entity that carries out…

The UAE is a member of the OECD Inclusive Framework. As a result, the EU assessed the UAE’s tax framework, through the European Union (“EU”) Code of Conduct Group on Business Taxation. Therefore, to obtain a better rating, and improve…

The Federal Tax Authority (FTA) has extended VAT filing date in UAE by issuing a directive on an exceptional basis providing an alternative date of May 28, for the deadline of submitting VAT returns and the payment of due tax…

IMPORTANCE OF ECONOMIC SUBSTANCE REGULATIONS UAE The Economic Substance Regulations – ESR in UAE is effective since April 2019 and it requires all mainland and Free Zone companies established in the UAE, (“Licensees”) to notify the relevant Regulatory Authority whether…

Being one of the Top 5 Audit Services in Sharjah, KGRN offers several services. For instance, we provide internal Audit Services, external audit services, and accounting services in Sharjah. Additionally, KGRN top 5 audit services accept audit reports ought to…