Category: Uncategorized

All about the Revised UAE Golden Visa Program

An economy that is growing faster than ever, a multifaceted technological hub, and a buzzing tourist spot- that’s what summarizes UAE. In 2019, the UAE government released the revised Golden Visa Program, a permanent residence visa for expatriates, which worked as a cherry on top to push the country’s progress further. What is the Golden […]

Why Do Companies Hire Bookkeeping Services in Dubai?

Managing and keeping track of finances is an integral part of every company. Analysing your company’s finances, bank accounts, and financial statements ensures your operations are running smoothly and helps you reduce and avoid extra expenditures. However, regardless of your business size, handling your finances alone is not easy, especially when you have a hundred […]

Global Tax Deal to Hurt Indians Who Moved Trust to the UAE

It is not new that the rich Indians have created and registered their family trusts in tax-friendly nations. As per the tax agents in UAE, they transferred their assets, including shares held in India and money repatriated from India, to the countries such as UAE, Singapore, and Malta to insulate themselves from the taxman status […]

How to File ESR Notifications in UAE?

On April 30, 2019, the UAE issued Economic Substance Regulations as part of the UAE’s commitment as a member of the OECD Inclusive Framework, and in response to an assessment of the UAE’s tax framework by the European Union Code of Conduct Group on Business Taxation. Cabinet Decision No. 58/2019 on the Determination of Regulatory […]

14 Mar

UBO Form – JAFZA

Jebel Ali Free Zone Authority, the regulator of Jebel Ali Free Zone (“Jafza”), would like to request its customers to provide the updated details of UBO Form by no later than 31 March 2021, to avoid paying the applicable late fine. The details can be updated on Dubai Trade Portal via this link (UBO form), […]

27 Jan
Accounting services in Dubai

NON-RECOVERABLE INPUT TAX

As a general rule, the Input Tax recoverable is the total of Input Tax paid for Goods and Services which are used or intended to be used for making any of the following: • Taxable Supplies • Supplies that are made outside UAE which would have been Taxable Supplies had they been made in UAE. […]

21 Dec

The UAE Economic Substance Regulations Guidance on Notification

What is the purpose of the Notification? The purpose of the Notification is to provide the Regulatory Authorities with certain initial information in respect of Licensees and their activities in the UAE for the relevant Reportable Period. The information provided as part of the Notification is a prerequisite to filing an Economic Substance Report for […]

21 Dec
Audit firms in Dubai

The UAE Economic Substance Regulations Guidance on Economic Substance Report

What is the purpose of the Report? This purpose of the Economic Substance Report is to provide the National Assessing Authority with information on the Licensee and the income, expenditure, assets, employees and governance related to its Relevant Activities in the UAE. Who needs to submit an Economic substance Report? An Economic Substance Report must […]

What is a VAT Administrative Exception or VAT Exception Form?

A VAT Administrative Exception or VAT Exception Form is a mechanism which provides registrants with concessions / exceptions allowed by the Federal Decree-Law No. 8 of 2017 on Value Added Tax (“Law”) or Cabinet Decision No 52 of 2017 on the Executive Regulations of the Federal Decree-Law No. 8 of 2017 on Value Added Tax […]

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