Year-end book closure by including the effect of Transitional Provisions for Corporate Tax (CT) and other Provisions What is Year End Closure of Books of Accounts? A systematic review…
Empowering Emirati Workforce
Empowering Emirati Workforce: Key Highlights of Ministerial Resolution No. 455/2023 for Private Sector Establishments with 20-49 Employees.” Emiratisation, the drive to boost local employment in the UAE, has taken a…
The Crucial Impact of Expert Payroll Processing in Organizational Excellence!
In today’s dynamic business landscape, effective payroll processing stands as a cornerstone of organizational success. The following article delves into ‘The Crucial Impact of Expert Payroll Processing in Organizational Excellence,’…
Accounting Standards and Interaction with Corporate Tax
The Ministry of Finance and Federal Tax Authority (FTA) has issued a new guidance on November 06, 2023, on which accounting standards are accepted in the UAE for Corporate Tax…
International Financial Reporting Standards for Small Medium Enterprises
In this article, let’s delve deeper into understanding the International Financial Reporting Standards for Small Medium Enterprises. Definition of SME’s as per Corporate Tax law: As per Ministerial Decision…
Cabinet Decision No. 100 of 2023 on Determining Qualifying Income for the Qualifying Free Zone & Ministerial Decision No. 265 of 2023
IMPORTANT: The Ministry of Finance has issued a new Cabinet Decision no. 100 of 2023 which replaces Cabinet Decision no. 55 of 2023. The Ministry of Finance has issued a…
Guide on Arm’s Length Principle for Financial Transactions
The Federal Tax Authority has issued a guidance in October 2023 detailing specific areas for Transfer Pricing that are relevant from a UAE perspective as a financial and investment hub.…
Corporate Tax & Compliance in Real Estate Business
Spectrum Auditing conducted an enlightening webinar on 3rd November 2023 on “Corporate Tax & Compliance in Real Estate Business”. You can watch more webinar videos on our Spectrum Auditing’s YouTube…
Exploring Offshore Company Establishment in the UAE: A Comprehensive Guide
Introduction: The United Arab Emirates (UAE) has become a global hub for commerce and trade, thanks to its strategic location, top-notch infrastructure, and favorable regulations. Many entrepreneurs and investors worldwide…
Your Guide On Non-Resident Person’s who are Subject to Corporate Tax
The UAE Ministry of Finance has released a guidance on the corporate tax law and implementing decisions on Non-Resident individuals or entities but have a source of income in UAE.…
FTA VAT Audit in UAE
What is FTA VAT Audit? As per Article 1 of Federal decree law, the definition of Tax Audit is “A procedure undertaken by the Authority to inspect the commercial records…
Contents of Internal Control over Financial Reporting (ICFR)
Spectrum Auditing conducted an enlightening webinar on 28th September 2023 on “Internal Control over Financial Reporting (ICFR)“. You can watch more webinar videos on our Spectrum Auditing’s YouTube channel. …
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