Background The United Arab Emirates (UAE) recently issued Cabinet Decision No. 58 of 2020 on the Regulation of Procedures Related to Real Beneficiaries (“the Regulation”), which came into effect on…
Summary on Tax Residency Certificate
Introduction: The Tax Residency Certificate / Tax Domicile Certificate is an official document issued by Federal Tax Authority confirming that an individual or corporate entity resides in the UAE. It…
TAX CERTIFICATE ISSUANCE BY FTA IN UAE
In a latest announcement by The Federal Tax Authority (FTA) in line with the Cabinet Decision No. 65 of 2020 on Fees for Services provided by the Federal Tax Authority…
How penalties are calculated on voluntary disclosures by UAE businesses on VAT or excise tax
The Federal Supreme Court has announced the method of calculating late payment penalties on voluntary disclosure.The judgment is significant because the effective date of penalty computation has been confirmed to…
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,…
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…
UAE Financial Leasing Law update
A finance lease (also known as a capital lease or a sales lease) is a type of lease in which a finance company is typically the legal owner of the…
Things to keep in mind to increase the sales of an organization (Or) Guide to boost sales of an organization
No magic way to achieve success Are you one of those owners who have a great product but the sales of it are not so great. Do you belong to…
Cloud Accounting – A Big Move in Accounting
In the current scenario of digitization and flexibility to work on multiple devices, demand for a centralized and secure data storage system is on the rise. Traditional usage of the…