Annual Tax Updates 2023 GCC Region
Annual Tax Updates 2023 in GCC Region In 2023, significant tax updates and changes unfolded in the tax landscape across the GCC countries. The GCC region is known for its dynamic economic environment, with each country having its tax regulations and policies. Recognizing the importance of staying informed, here are the major tax updates announced […]
Cabinet Decision No.52 on the Executive Regulations on VAT Law
Cabinet Decision No.52 on the Executive Regulations of Federal Decree-Law No.8 of 2017 on Value Added Tax, hereafter ‘the Executive Regulations’ Federal Decree-Law No.8 of 2017 on Value Added Tax, hereafter ‘the Law’. Cabinet Decision No.52 on the Executive Regulations of Federal Decree-Law No.8 of 2017 on Value Added Tax, hereafter ‘the Executive Regulations These […]
Why ITC Tax Consultancy is Essential for Business Success
Why ITC Tax Consultancy is Essential for Business Success In today’s rapidly evolving business landscape, staying ahead of the game is crucial for success. One area that often gets overlooked but is essential for maintaining a competitive edge is tax consultancy. As businesses navigate through complex tax regulations and ever-changing laws, having a trusted tax […]
Cash Flow Statement
Financial Reporting – Cash Flow Statement Financial reporting in accounting refers to the process of presenting financial information about a company’s performance and financial position to external parties, such as investors, creditors, regulators, and other stakeholders. The primary purpose of financial reporting is to provide relevant, accurate, and timely information that allows these external users […]
The Ultimate Guide to Starting a Business in Dubai
The Ultimate Guide to Starting a Business in Dubai Are you considering starting a business in Dubai? Look no further – this ultimate guide has got you covered! Dubai, the vibrant and cosmopolitan city known for its iconic skyline, luxurious lifestyle, and booming economy, offers endless opportunities for entrepreneurs. However, navigating the intricacies of the […]
Alternative Methods of Input Tax Apportionment and Considerations for Banks
Alternative Methods of Input Tax Apportionment and Considerations for Banks Alternative Methods of Input Tax Apportionment and Considerations for Banks: The Outputs-Based Method: This method is applicable to insurance companies and financial institutions, such as banks offering banking services. This applies to individuals, companies, large establishments, investment banks, providers of local passenger transportation services, educational […]
Simplifying Accounting Management: A Vital Introduction
Simplifying Accounting Management: A Vital Introduction Simplifying Accounting Management: A Vital Introduction Accounting Management refers to planning, arranging, and controlling an organization’s financial activities. To make decisions easier, assure compliance with laws, and meet the organization’s financial goals, it comprises gathering, recording, analyzing, interpreting, and presenting financial information. Accounting management encompasses various activities, including: Financial […]
Control System Review
Understanding Control System Reviews in Financial Services Understanding Control System Reviews in Financial Services An organization that provides financial services will evaluate and assess its internal control mechanisms and procedures as part of a control system review. Such a review’s goal is to confirm that the right controls are in place to reduce risks, protect […]
Mastering Bookkeeping: Best Practices for Small Business Owners in the UAE
Mastering Bookkeeping: Best Practices for Small Business Owners in the UAE To ensure the success of your company as a small business owner in the UAE, you must keep accurate financial records. Tracking business expenses, profits, and taxes requires the process of bookkeeping, which is the act of recording financial transactions. The ideal bookkeeping […]
Liquidation Procedure in The UAE
Liquidation Procedure in The UAE The method through which a business is shut down is called Company Liquidation. All partners receive equal shares of the company’s assets and property. Articles 306 – 326 of Federal Law No. 2 of 2015, which outlines the steps and processes for dissolving an LLC firm, provides that a corporation […]
