If a company’s POEM is situated in UAE; it will be treated as a UAE resident. Its global income will be taxable in UAE. An Overview: POEM has been…
ESR Practical Challenges and FAQs
Economic Substance Regulations (ESR) is a set of regulations introduced by the UAE as a part of UAE’s commitment as a member of the OECD which was effective from 2019…
Ensuring Transparency: A Guide to IAS-9 Compliance for Financial Assets
Initial Measurements of Financial Assets as per IAS-9. In this blog, we will discuss the initial measurement and classification of Financial Assets. Initial Measurement: Financial assets are initially measured…
From Uncertainty to Clarity: Understanding Expected Credit Loss (ECL) under IFRS 9
A Summary of Expected Credit Loss (ECL) under IFRS 9. In this blog, we will discuss the provision of ECL and its impact on financials. Impairment of Financial Assets:…
UAE Business Startup Guide Evaluating Guide on the Process of Company Formation in the UAE
This video is part of a webinar conducted by GetCompany in collaboration with SBC Tax Consulting & Spectrum Auditing on “Starting a Business in the UAE: Legal Forms & Tax…
Evaluating Guide on the Process of Company Formation in the UAE
Starting a business in the UAE offers numerous benefits, including a strategic location, stable economy, and favorable business environment. This guide provides a step-by-step outline of the company formation process…
Stop Bookkeeping Mistakes! The Ultimate Streamline Guide | Spectrum Auditing
Spectrum Auditing conducted an exclusive webinar on “Guidelines for Preparing a Complete Trial Balance & making Books of Accounts ready for Audit” on Friday, 28 June 2024 from 3 pm…
VAT Registration: A Step-by-Step Guide for Businesses
The UAE Resident businesses make taxable supplies in the country are required to register for VAT if the value of their taxable supplies and imports in the last 12 months…
Non-Resident Persons – UAE Tax Regulations
Non-resident persons in the UAE may encounter several issues when it comes to compliance with corporate tax (CT) and transfer pricing (TP) regulations. Here are some typical challenges they may…
IFRS 15: Demystifying the Art of Revenue Recognition
The International Financial Reporting Standard (IFRS) 15, “Revenue from Contracts with Customers,” is a global reporting standard established with the intent of helping companies how to recognize revenue. It’s a…
Liquidation of a Company: An Overview
What is Liquidation? Liquidation, also known as winding up, is the process by which a company is dissolved, effectively ending its corporate existence. This generally occurs when a company is…
Comprehensive Guide to IAS 21 – Effects of Changes in Forex Rates
In this blog, we discuss IAS 21 which deals with the effects of changes in foreign exchange rates, and it specifically focuses on its implications in the context of UAE.…
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