Category: Finance

How to Create a Strong Internal Audit Structure for Your Business?

With so much global uncertainty, change seems to be the only true constant. Having a strong internal audit department can help business leaders make better decisions for future growth and success. Hence, it is vital to employ a robust internal audit structure in the company. The internal factors can include the functioning of different departments, […]

Tax Consultants Dubai- Advantages of Hiring Them

Filing taxes is definitely not an easy job. There are various complicated processes involved and business owners have to deal with huge calculations. Moreover, the tax filing rules and regulations changed over time. Hence, it is a good idea to hire professional tax consultants who can help you without making major errors. Clarifications on tax […]

How to Apply for Tax Registration in Dubai?

One of the best ways to get your business or firm recognized by the government is to get it registered as one of the tax-paying firms. When you have completed the process of tax registration in Dubai, a government allows a goods-service provider or a business firm to collect Value Added Tax from its customers […]

Change Email ID on Federal Tax Authority (FTA)

The Federal Tax Authority (FTA) is a government entity responsible for administering, collecting, and enforcing federal taxes across the UAE. It helps foster an environment that drives outstanding economic development. The FTA helps keep the sturdy investment infrastructure and legislative system intact to ensure all international standards are met. It is the body responsible for […]

Economic substance regulations – Distribution Business

What is “Distribution Business” If the Licensee purchases goods from a FOREIGN CONNECTED PERSON and import those goods into the UAE and distribute those goods outside UAE. The trigger point is Foreign Connected Person. Foreign Connected Person is a natural or judicial person not a resident of UAE, who is related to one or more […]

Economic Substance Regulations (ESR)

Economic substance regulations applicability in UAE Companies in the UAE are expected to ensure their compliance with the new Economic Substance Regulations (ESR), and failure to do so will invite hefty penalties. Amid a number of financial challenges came with the COVID-19 pandemic, adhering to the UAE’s new ESR is now a mandatory and another […]

Strategies for improvising Cash Flow in this current Pandemic!

General Strategies for improvising cash flow to address COVID-19 Stress! 1.     Stay on Top of Invoicing: Send invoices to customers as soon as work is completed, or products are delivered. Make Automated system of generating invoices. 2.     Cost cutting strategy: a.     Are you spending money on subscriptions or services you are not using or insurance […]

New biannual tax return commences from November

The Federal Tax Authority (FTA) will introduce a new biannual tax period next month for certain sectors, said Khalid Ali Al Bustani, director-general, FTA. “Next November, a new biannual tax period will be introduced for some small businesses, commercial real estate owners, and board members, and they will be informed of the procedures for their […]

VAT Refund

What is VAT Refund? All the registered business are required to file a VAT return furnishing the details of sales, purchases output VAT and input VAT paid during the tax period. Here, the output VAT is the amount which is collected on sales and Input VAT is the amount which is paid to the supplier […]

Ministry of Finance

In your life, you may have many times facing financial issues. It’s good if you know how to handle it by yourself and have enough time to take care of it. In other cases, it’s time you get a financial consulting service. And the article below will show you those cases.