In this new age and time of the “new normal,” auditing too is taking a turn towards working remotely. Though the physical presence of the auditor or the auditee is…
Auditing conflicts of interest
Keen understanding of the client’s third-party transactions is necessary to avoid any conflicts with the audit.It is essential to be aware that one client has businesses involved with another client,…
Business Setup & Auditing in Dubai Silicon Oasis
Dubai Silicon Oasis is a major technology park in Dubai, which was launched in October 2002 by Sheikh Mohammed bin Rashid Al Maktoum, ruler of Dubai, with the aim of becoming a global hub of electronic innovation, research…
DTEC FreeZone Company Formation
An initiative of Dubai Silicon Oasis Authority, Dtec is designed to conveniently set up a new business in Dubai. From 100% business ownership, visa processing, 24/7 access, high speed wifi,…
UAE VAT Refund for Business Visitor/ Foreign Business – For Businesses from outside UAE paying UAE VAT
Overview UAE Federal Tax Authority (FTA) has introduced Business visitor VAT refund to help foreign businesses / business visitors check if they are eligible to make a claim for refund…
VAT Public Clarification – Zero-rating of export of services
This Public Clarification provides a high-level clarification of the FTA’s view of the zero-rating conditions in Article 31(1)(a) of the Executive Regulation relating to the residency and location of the…
UAE Economic Substance Test (ESR Test)
In continuation to our earlier article published on ‘UAE Economic Substance Regulations (ESR) Return – The Contents of the ESR Return Form’, we described in brief in the UAE ESR…
ESR Return for Distribution and Service Center Business Relevant Activities
This blog is part of our series on UAE Economic Substance Regulations. You can read activities under Economic Substance Regulations to find relevant activity and its importance. Here, you will…
UAE Economic Substance Test (ESR Test) for Distribution and Service Center Business
What is Distribution and Service Center Business Activity? A “Distribution and Service Centre” Business refers to two distinct activities that are covered under one “Relevant Activity” heading. A Licensee is…
Business Risk Vs Audit Risk – Key differences and considerations
What is audit risk? Any risk that’s expressed by an auditor on the financial statements. This could be caused due to omission/manipulation in the financial statements and/or misstatements in the…
DMCC Free Zone – Dubai Multi Commodities Centre Free Zone
DMCC is one of the fastest growing Free Zone’s in the world. It was established in the year 2002 with headquarters in Dubai to facilitate DMCC Free Zone as a…
RAKEZ – Ras Al Khaimah Economic Zone
Ras Al Khaimah Economic Zone (RAKEZ) was established to oversee and consolidate the specialized zones and clients of both Ras Al Khaimah Free Trade Zone and RAK Investment Authority.RAKEZ is…