Growing a business in the UAE
Growing a business in the UAE (United Arab Emirates) can be an exciting opportunity due to its thriving economy and business-friendly environment. Here are some tips specifically for growing a business in the UAE: 1. Understand the local market: Conduct thorough market research to understand the UAE’s unique business environment, cultural nuances, consumer preferences, and […]
Anti-money laundering laws (AML) in UAE
The United Arab Emirates (UAE) has implemented comprehensive anti-money laundering (AML) Consulting firms in UAE laws and regulations to combat money laundering, terrorist financing, and other financial crimes. The AML framework in the UAE consists of several key laws and regulations, including: 1. Federal Decree-Law No. 20 of 2018 on Anti-Money Laundering and Combating the […]
ROLE OF ACCOUNTING IN IT BUSINESS
Accounting Services in UAE plays a crucial role in IT businesses by providing financial information and ensuring the efficient management of financial resources. Here are some key roles of accounting in the context of IT businesses: 1. Financial Record-Keeping: Accounting helps IT businesses maintain accurate and detailed financial records. This includes recording transactions, tracking revenues […]
ALL YOU NEED TO KNOW ABOUT UAE CORPORATE TAX
Corporate tax Introduction Corporate tax in UAE is a type of tax imposed on the profits or income earned by corporations, also known as companies or businesses. It is a direct tax levied by governments on the profits generated by corporate entities. The corporate tax rate is usually expressed as a percentage of a company’s […]
WHY AUDITING IS IMPORTANT IN UAE
Auditing in the United Arab Emirates (UAE) follows the principles and standards of auditing commonly practiced internationally. Auditing in the UAE involves the independent examination and verification of financial statements, records, systems, and processes of an organization to provide an objective assessment of their accuracy, compliance, and reliability. Here are some key aspects of auditing […]
PURPOSE OF BOOK KEEPING IN UNITED ARAB EMIRATES
What is Bookkeeping in UAE ? Bookkeeping in the UAE refers to the process of recording, organizing, and maintaining accurate financial records of a business’s transactions and activities in accordance with the accounting principles and regulations followed in the United Arab Emirates. It involves systematically documenting financial transactions, categorizing them, and summarizing them in various […]
HOW TO CLAIM VAT REFUND IN UAE
A VAT refund in UAE is a reimbursement of Value Added Tax (VAT) that has been paid on goods or services by a business or individual. VAT is a consumption tax that is added to the price of goods or services at each stage of production and distribution, and is ultimately borne by the end […]
IMPORTANCE OF VOLUNTARY DISCLOSURE IN UAE
Voluntary disclosure in UAE is the act of providing information or data to others without being legally required to do so. In the business context, voluntary disclosure typically refers to a company sharing information about its operations, financial performance, or other relevant information with stakeholders, including investors, customers, employees, and regulators. Voluntary disclosure can take […]
ERP SOFTWARE SYSTEM IN UAE
ERPNext is a popular open-source ERP software system that can be used in the UAE. ERPNext is a comprehensive business management software that covers a wide range of functions such as accounting, inventory management, project management, human resources management, customer relationship management, and more. ERPNext is an open-source, web-based Enterprise Resource Planning (ERP) software application […]
UAE CORPORATE TAX LAW : DEFINE TAXABLE PERSONS
In the United Arab Emirates (UAE), the Federal Law No. 7 of 2017 on Tax Procedures (the Tax Procedures Law) governs the administration and collection of taxes, including corporate tax. The UAE has implemented a corporate tax regime, which applies to certain entities conducting business in the country. Under the corporate tax law, taxable persons […]
