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29/04/2024
Frequency of Internal Audit in Dubai

Internal Audit Frequency

What is the frequency of internal audits for a company in UAE There's no one-size-fits-all answer to how often you should conduct internal audits in your UAE firm. An effective internal audit program considers several factors to determine the optimal frequency for different areas. This b

09/12/2022
FTA Issues Corporate Tax Law

BREAKING NEWS FTA issued corporate tax law draft on 9th December 2022

The Federal Decree-Law No. 47 of 2022 on the Taxation of Corporations and Businesses (hereinafter referred to as the “Corporate Tax Law”) was issued by the United Arab Emirates (“UAE”), on 09 December 2022.  The Corporate Tax Law provides the legislative basis for the i

25/01/2023
Audit Services in Abu Dhabi

Benefits of Professional Auditing Services in Abu Dhabi, UAE

Professional auditing services are essential for businesses of all sizes, as they provide accurate financial reporting, expert tax advice, and the ability to make informed business decisions. Auditing services ensure that a company’s financial statements and practices are precise and compliant

04/02/2023
ICV Certification in the UAE

ICV Certification in the UAE: Everything You Need To Know

In 2018, ADNOC, the Abu Dhabi National Oil Company, initiated the In-Country Value (ICV) certification to promote Emiratisation, GDP diversification, and other strategic goals. By acquiring an ICV certificate in the UAE, suppliers will benefit from additional consideration during the assessment of t

24/02/2023
Accounting Firms in Abu Dhabi

Choose the Right Accounting Firm for your Business in Abu Dhabi

If you are an entrepreneur running a business in Abu Dhabi, you are likely responsible for supervising all aspects of your business operations, which includes managing your finances. However, unless you have expertise in finance, it is advisable to seek help from a professional accounting firm in Ab

10/03/2023
VAT Health Checkup in UAE

A Comprehensive Guide on VAT Health Check-ups in UAE

A VAT health check is a process of examining a business’s tax compliance and tax filing status. The health check ensures the tax return is complete and free from errors that could lead to penalties. The VAT health check also helps businesses maintain documentation of their transactions. When d

10/03/2023
Tax Agency Services in UAE

All You Need To Know About Tax Agency Services in UAE

Tax agencies play a vital role in tax services. They provide expert guidance when it comes to tax compliance and tax return filing. In the UAE, tax agency services are offered by registered tax consultants who are qualified and experienced professionals. Choosing the right tax agency can help you sa

15/03/2023
Tax Residency Certificate

New Ministerial Decision on Determination of Tax Residency

Ministerial Decision No. 27 of 2023 on Implementation of Certain Provisions of Cabinet Decision No. 85 of 2022 on Determination of Tax Residency. Below is a summary of the key changes: Simplified and standardized criteria for determining tax residency, which is based on an analysis of e

30/03/2023
Freezones in Abu Dhabi

Everything you need to know about Free Zones in Abu Dhabi

Are you looking to start a business in Abu Dhabi? The first thing you have to decide is whether to set up business on the mainland (also known as 'onshore') or in a free zone (also known as 'offshore'). Establishing a business in the free zones of Abu Dhabi presents numerous advantag

17/05/2023
Factors to consider while selecting an Auditor in Abu Dhabi

Key factors to consider while selecting an Auditor in Abu Dhabi

When it comes to choosing auditors in Abu Dhabi, UAE, businesses need to be very cautious. Why? Well, some auditors aren't recognized by banks or have a bad reputation, leading to them being blacklisted. It could lead to the denial of bank facilities and cast doubts on your financial statements

31/05/2023
Why You Need a VAT Consultant in Abu Dhabi

5 Reasons Why You Need a VAT Consultant in Abu Dhabi

The UAE has become an attractive destination for entrepreneurs and business professionals due to its business-friendly policies, excellent infrastructure, high standard of living, diverse population, and strategic location. One of the most enticing factors was its tax-free system. However, things ch

09/11/2023
tax audit

Tax Audit Services in Abu Dhabi

A Comprehensive Guide: Tax Audit Services in Abu Dhabi Introduction Commencing on January 1, 2018, the UAE is now subject to the Tax Law. To guarantee that every division is prepared for the new transition, all firms in the UAE should check. According to the Federal Decree-Law No. 7 a

20/11/2023
feasibility study process

Steps to Conduct Feasibility Studies in Abu Dhabi

Conducting a feasibility study is an integral step in assessing the viability of a business venture. This initial assessment gauges the potential success of a project, estimating possible financial gains while minimizing risks. Conducting a feasibility study can reduce risk and increase the retu

22/12/2023
vat

How to Claim VAT Refund in UAE?

There are likely a few people who remain curious about the procedure for claiming VAT refunds in the UAE. VAT (Value Added Tax) is a consumption tax that is added to the value of goods and services at each stage of production and distribution. Every company with an FTA registration must submit a

27/12/2023
How to Improve Your ICV Score in UAE

How to Improve Your ICV Score in UAE

The ICV score is determined by considering the expenses on products and services of a company that are produced in the UAE. The UAE implemented the ICV program in 2018. It helps businesses compete effectively for tenders based on the value they bring to the UAE economy. To support the country&#39

16/01/2024
fear of business insolvency

Causes of business insolvency in Abu Dhabi

Business Insolvency in Abu Dhabi Regardless of size or sector, a major issue that many businesses encounter is business insolvency. A corporation is in this financial condition when its liabilities are greater than its assets and it is unable to pay its bills as they become due. The complex i

06/02/2024
Importance of AML Compliance in the UAE

Importance of AML Compliance in the UAE

Everything you need to know about AML Compliance in the UAE Every AML (Anti-Money Laundering) service that we provide to our clients is enhanced by the contribution of our knowledge, experience, and skill in the field. Our team of experts in AML/CFT compliance services in the UAE guarantees that

10/03/2024
The role of auditors in Dubai

The role of auditors in Dubai

Striving for Excellence: The Vital Role of Auditors in Dubai   In the vibrant landscape of the United Arab Emirates (UAE), where financial advancement is fast as well as diverse, the role of auditors in Dubai stands as a keystone of monetary stability. The auditors ensure transparency, ac

28/08/2024
tax residency certificate img

Tax Residency Certificate (TRC) in UAE

How to Get a Tax Residency Certificate in UAE? A Tax Residence Certificate (TRC) is a certificate issued by the UAE Federal Tax Authority (FTA) to companies that operate in the United Arab Emirates (UAE), that certifies the company's tax residency and grants it benefits under double taxatio

09/09/2024
financialreportingimg

How to Prepare for the Year-end Financial Reporting in UAE

Financial reporting at the end of the month or year is the process of compiling and recording a business's financial status and performance after a certain accounting period, which might be one month or one year. All financial transactions—including income, expenses, assets, and liabilitie