Accounting Services

How Knowledge of Audited Financial Statements in UAE Can Boost Your Business Success

What is an Audit To understand the benefits of audited financial statements in UAE, first of all let’s understand, what is an audit? Audit refers to an official inspection of an organization’s financial statements by an independent qualified auditor. The auditor is totally independent from the entity and therefore provides an independent opinion on whether

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Transfer Pricing in UAE : Corporate Tax Law

Transfer Pricing in the UAE: Navigating Corporate Tax Regulations The Transfer Pricing in UAE issued by the Federal Tax Authority (FTA) of the United Arab Emirates on October 23, 2023, marks a significant development in the tax landscape, particularly in corporate taxation and transfer pricing. Corporate tax in the UAE involves critical concepts like Transfer

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Taxation in Dubai: What Every Business Owner needs to know #2023

Taxation in Dubai: What Every Business Owner needs to know #2023  Introduction In a significant shift from its long-standing tax policy, the United Arab Emirates (UAE) announced in January 2022,  introduction of a new corporate tax. This tax, set to come into effect from June 1st, 2023, marks a turning point in the UAE’s fiscal

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UAE Corporate Tax Penalties 2023: Why Corporate Tax Planning is important in UAE

The United Arab Emirates (UAE) has long been known as a business-friendly environment with its strategic location, robust infrastructure, and favorable tax regime. However, as part of its commitment to enhance its tax system and align with global best practices, the UAE has recently introduced a new set of penalties for corporate tax violations. These

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The UAE is all set to implement the first corporate tax groups

The UAE is all set to implement the first corporate tax groups. The creation of “tax groups” will be the next significant set of updates for many business owners, even as the UAE tax authorities continue to publish updates on corporate tax. Here, various companies run by one or more dominant shareholders get together to

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Top 10 International Banks in Dubai – All You Need to Know in 2023

Introduction Dubai, the city of gold, is not just a global hub for trade and tourism but also a prominent centre for banking and finance. The city’s robust economy, strategic location, and business-friendly environment have attracted numerous international banks, making it a hotspot for global banking operations. In this comprehensive guide, we will delve into

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What is the Difference Between Bookkeeping & Accounting?

If you are not from a commerce background, bookkeeping and accounting might seem to you – doppelgangers. Although, they both are the kids of the same father i.e., finance management and are born with similar motives in the world of business but take different routes to reach their goal i.e., managing finances. Simply put, bookkeeping

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first-corporate-tax-groups

The UAE is all set to implement the first corporate tax groups

The UAE is all set to implement the first corporate tax groups. The creation of “tax groups” will be the next significant set of updates for many business owners, even as the UAE tax authorities continue to publish updates on corporate tax. Here, various companies run by one or more dominant shareholders get together to

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ESR notification and reporting in UAE – Deadline approaching 31st December 2023

Welcome to this crucial guide on Economic Substance Regulations (ESR) in the United Arab Emirates. If you’re a business operating in the UAE, you’re likely aware of the ESR notification and reporting requirements. But are you aware of the fast-approaching ESR notification deadline 2023? With the clock ticking towards 31st December 2023, understanding and complying

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