2024-04-24 09:41
UAE Corporate Tax Law on International Businesses
UAE, as a global hub, has often attracted big-time opportunities for both local and well as foreign investors. The introduction of the lates… Read More
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Flyingcolourtax is one of the best accounting and taxation service providers in Dubai, UAE. What You Should Know About VAT Exemptions For Public And Private Transportation?
2024-04-21 07:55
Best Transfer Pricing Methods
Under UAE CT law, Transfer Pricing methods are a significant area that deals with the cost of different transactions between connected or related part… Read More
2024-04-17 07:07
Strategies for Withholding Tax UAE Business Owners
The United Arab Emirates (UAE) has turned into an appealing jurisdiction for holding companies seeking to optimize their tax planning strat… Read More
2024-04-16 12:24
Understanding Taxes for UAE Property Investment
The real estate market in the UAE is constantly changing and developing. The market has become one of the most essential sectors in the UAE&rs&hell…Read More
2024-04-13 08:10
Tips for filing taxes for small businesses
Small business owners should be proud because they have developed their dreams into reality and are working hard toward the growth of themselves an… Read More
2024-04-06 11:37
Submit VAT Returns to UAE
Value Added Tax, known as VAT, was implemented in the UAE on 1st January 2018. Initially, the VAT was implemented in the UAE and KSA. Businesses r… Read More
2024-04-03 07:53
Deciphering VAT Registration and De-Registration
The United Arab Emirates (UAE) is also known as a business-friendly country as it has several business-friendly policies, including low and z… Read More
2024-04-01 15:06
How Corporate Tax Works in UAE Free Zones
The United Arab Emirates is famous for its tax-friendly environment among entrepreneurs worldwide. However, the UAE’s government has introduce… Read More
2024-03-29 01:38
Updating FTA Account for Taxes
The Federal Tax Authority (FTA) regulates all types of taxes, including Corporate Taxes, VAT, excise tax, and more, in the United Arab Emirates. When you… Read More
2024-03-28 14:39
According to the UAE corporate tax law, accounting parameters determine the calculation of the taxable tax. The accounting process turns possible illegal activities into business-relat… Read More
2024-03-27 13:05
Mastering Corporate Tax Compliance for Exempt Individuals and Entities
The United Arab Emirates (UAE) is famous as the tax and business-friendly country in the world. The country’s gov… Read More
2024-03-26 17:59
Corporate Tax Penalties in UAE 2024
The Ministry of Finance introduced new Corporate Tax Fines and Penalties in UAE on 27 February 2024. These penalties and fines are announced for tho… Read More
2024-03-25 06:38
Non-Residents Corporate Tax Criteria in UAE
In the ever-evolving business world, the United Arab Emirates (UAE) stands out as a home to international commerce, boosting growth, stimulating i… Read More
2024-03-19 06:20
Penalty for late payment of VATBusinesses operating in the UAE… Read More
2024-03-18 07:32
Qualifying Income in UAE Corporate Tax The Federal Tax Authority (FTA) and the Ministry of Finance have introduced Corporate Taxation guidelines in… Read More
2024-03-13 06:28
VAT Reconsideration Services
The Federal Tax Authority (FTA) is the regulatory body for UAE tax laws. The same authority takes charge of managing and collecting federal taxes and fines in th… Read More
2024-02-23 14:30
An Audit is Mandatory for Companies in the UAE
In the UAE, the majority of businesses are small and medium-sized businesses, which is also known as SMEs. These enterprises play a crucial rol… Read More
2024-02-21 13:02
Start the Audit Process for my DMCC Company
The Dubai Multi Commodities Centre (DMCC) Free Zone is a free trade zone in the United Arab Emirates (UAE). By obtaining a trade license for this… Read More
2024-02-19 08:20
Accounting Firm Help Your Business Thrive in the Future
In these days’ ever-evolving organization panorama, it miles vital to have a solid financial basis to navigate the uncertainties… Read More
2024-02-16 10:39
Transfer Pricing Guide Corporate Tax
The Federal tax authority issues the guide for Transfer Pricing regulations in UAE on 23 October 2023. The guide provides taxpayers with insight and prac… Read More
2024-02-14 08:30
Tax Consultants in Dubai, UAE
With the introduction of the Corporate Tax in the United Arab Emirates with that standard corporate tax rate of 9 per cent, business owners are required to make… Read More
2024-02-13 10:35
Impact Of Corporate Tax Assessment in UAE
The UAE has always been popular as a business–friendly destination throughout the world. Due to the same fact, some uncountable business… Read More
2024-02-09 11:25
Backlog Accounting Service
Business management is an important part of a successful economic status. Owners of these businesses need to identify the specific factors affecting organizational… Read More
2024-02-07 06:42
Business Restructuring Relief in UAECorporate or Business Restructuring in UAE is often regarded as a positive sign of the profitability of a busin… Read More
2024-01-29 05:56
Corporate Tax Regime in the UAEThe concept of family foundation sits at the heart of the philanthropic landscape in the United Arab Emirates. The pr… Read More
2024-01-12 09:43
Modern Technology is Transforming Bookkeeping Services in DubaiThere is no lie that the evolution of technology and computer science has transformed… Read More
2024-01-10 08:07
Difference between Corporate Tax and Income Tax in UAERecently, the UAE government introduced new rules and regulations on Corporate Business Tax in… Read More
2024-01-05 08:01
Corporate Tax Liability Real Estate & Immovable Property
The United Arab Emirates is a magnet for investors and businesses because of its robust economy, strategic location, and gr… Read More
2024-01-03 08:33
Corporate Tax for the Medical Supply Distribution
The healthcare sector in the UAE is noticing immense growth due to the fact that there is a high demand for medical supplies. Healthcare bus… Read More
2023-12-27 08:53
Accounting serves as a broader concept that comes with numerous aspects that you should know. Accounting helps a company track its income, expenses, and every financial transaction while run… Read More
2023-12-26 06:29
A few years ago, the government of the UAE added 5% VAT in the UAE on 1st January 2018. After this statement, organizations are needed to acquire… Read More
2023-12-19 07:07
In the continuous development of an organization in the United Arab Emirates, new regulations and rules of Corporate Tax in UAE have been applied… Read More
2023-12-08 07:13
The United Arab Emirates, or UAE, is well-known for its tax favorable surroundings. However, the country has made headlines after introducin… Read More
2023-11-13 10:47
The authorities in the United Arab Emirates have announced a new corporate tax in UAE from 1st June 2023. Since its announcement, there has been a buzz among tax professionals and… Read More
2023-10-27 12:31
Country-by-Country Reporting
Country-by-Country Reporting (CbCR) is a requirement established by the Organization for Economic Cooperation and… Read More
2023-10-10 09:53
Qualifying Group Relief in UAE Corporate Tax
The United Arab Emirates (UAE) has recently implemented significant tax reforms aimed at rationalizi… Read More
2023-10-02 08:05
Prioritizing Bookkeeping in Sole Firms: Purview of Corporate Tax & VAT in UAE
O… Read More
2023-09-27 09:19
Federal Tax Authority Decision No. 13 of 2023
Determination of Conditions for Conversion of Amounts Quantified in a Currency other than the United… Read More
2023-09-27 08:42
REGISTRATION REQUIREMENT UNDER UAE CORPORATE TAX
It is important to understand for each person the requirements of registration and filing tax returns under Federal Decree-Law No. 47 of 2… Read More
2023-09-27 08:08
Federal Tax Authority Decision
Federal Tax Authority Decision No. 11 of 2023 for purposes of Federal Decree-Law No. 47 of 2022 on the Taxation of Corporations and Businesses-Requirements… Read More
2023-09-26 11:09
Tax Invoice as per UAE VAT Law
A Tax Invoice is a crucial document that must be issued by a registrant when a taxable supply of goods or services… Read More
2023-09-23 08:51
Mastering Annual Account Filing in ADGM:
A Thorough Guide
Summary:
Filing annual accounts is a fundamental obligation for businesses in the Abu Dhabi Global Market (ADGM). The intr… Read More
2023-09-22 11:17
Different Types of Accounting Practices in UAE
The process and action of monitoring a firm entity’s continuous financial activities is known as accounting practice. The creation of… Read More
2023-09-21 10:30
Logging in EmaraTax using UAE Pass
UAE Pass is a secure national digital identification and signature system that the Federal Tax Authority (FTA) in the United Arab Emirates (UAE) has imp… Read More
2023-09-20 08:01
The Future of Accounting and Auditing Practices in UAE
The accounting and auditing sector in the United Arab Emirates (UAE) is poised to undergo substantial expansion and transformation i… Read More
2023-09-19 10:52
Virtual Audit Vs. Physical Audit in UAE
A physical audit is conducted on-site, while a virtual audit is conducted remotely. Here are some pros and cons of each type of audit:
Physical… Read More
2023-09-15 08:35
What is Audit Automation and How is it Important in Today’s Technological Advancement?
What is audit automation?
Audit automation leverages cloud-based technology to facilitate r… Read More
2023-09-14 10:02
Difference Between Statutory Audit and Regulatory Audit in the UAE
Statutory Audits
A statutory audit is one that must be performed by law. Statutory audits are commonly carried out by… Read More
2023-09-12 14:52
General Documents Required to Conduct an External Audit
The objective of a statutory audit is to ascertain whether an entity presents a just and precise depiction of its financial status… Read More
2023-09-07 13:44
Importance of Auditor’s Independence
The concept of auditor independence is of utmost importance in maintaining professionalism and ethical conduct. It refers to the ability of audi… Read More
2023-09-06 11:32
UAE AML Audit
An AML audit is a comprehensive evaluation conducted to ascertain whether a company has implemented an effective anti-money laundering program and is adhering to its AML pol… Read More
2023-09-05 08:09
The distinction between an audit and a review is significant.
Audit
An audit is the most comprehensive form of assurance service, requiring the auditor to express an opinion on a… Read More
2023-09-01 12:30
DMCC Wage Protection System (WPS)
The DMCC (Dubai Multi Commodities Centre) has implemented the Wage Protection System (WPS) as part of its efforts to promote fair and ethical business pr… Read More
2023-08-31 11:16
AML Software and benefits of using AML Software
AML (Anti-Money Laundering) software is a type of software used by financial institutions to prevent, detect, investigate, and report suspi… Read More
2023-08-30 08:46
Ensuring Effective Suspicious Activity Reporting
To ensure effective suspicious activity reporting, DNFBP should follow the best practices below:… Read More
2023-08-29 10:25
E-Invoicing in UAE
The Federal Tax Authority (FTA) has announced plans to implement a mandatory e-invoicing system which is expected to come into effect in July 2025.
The UAE government h… Read More
2023-08-28 10:45
AI refers to a range of techniques that allow machines to mimic or exceed human intelligence. It involves computer technology being able to “think” for itself and make decisions… Read More
2023-08-19 12:20
Accounting and bookkeeping requirements as per Federal Tax Authority
Accounting and bookkeeping requirements as per Federal Tax Authority. According to Executive Regulation of Federal Dec… Read More
2023-08-19 11:27
Sales Audit
Importance of Sales Audit
Sales audit allow companies to consider their marketing tactics and sales history. This analysis can help sales teams create better sales objectiv… Read More
2023-08-18 13:38
Provisional Tax PenaltiesIn the realm of corporate taxation in the UAE, understanding the potential penalties is crucial for businesses.
Below table provides a clear overview of the… Read More
2023-08-18 09:06
Dubai SME
Small and Medium Enterprises (SMEs) / Dubai SME are the backbone of Dubai’s economy, representing 95% of all establishments in the Emirate. These SME businesses account fo… Read More
2023-08-15 14:16
How Audit Becomes a Tool for Effective Internal Control Systems
Definition and purposes of internal control Systems
The Turnbull Report, defined internal control systems and its scope… Read More
2023-08-12 08:58
Corporate Tax Registration Amendment
To amend Corporate Tax Registration in the UAE, you can follow these steps:
Notify the Federal Tax Authority (FTA) about the changes in writing.&nb&hell…Read More
2023-08-11 12:07
Below is the detailed steps to deregister from Corporate Tax in UAE:
File a tax deregistration application – To deregister from the UAE corporate tax regime, a person must file a ta… Read More
2023-08-11 09:35
External audits are conducted to determine the validity of quality documentation through external audit management processes, to verify that quality documentation is accurate, and to ensure… Read More
2023-08-10 12:15
To change the corporate tax period in the UAE, you need to follow certain procedures and meet specific requirements. Here are the steps you can take:
Understand the requirements: Familiar… Read More
2023-08-01 15:16
Internal and external audits are two different types of audits that serve different purposes. Here are the main differences between them:
Internal Audit:
1. Conducted by employees of t… Read More
2023-08-01 15:11
Hiring an external auditor for your company can provide several benefits, including:
Unbiased audits: An external auditor provides an objective opinion on a company’s accounting pro… Read More
2023-07-25 14:48
A risk-based approach in auditing has several benefits, listed as below:
1. Identifying risks correctly: A risk-based approach enables internal auditors to identify risks correctly and al… Read More
2023-07-24 15:56
Here are the key points regarding audit submission deadlines and consequences of non-submission in UAE free zones based on the search results:
In DMCC, DWC, and JAFZA, companies must prep… Read More
2023-07-24 15:41
The approved accounting standards for reporting financial statements in the UAE are as follows:
1. Financial statements for financial reporting purposes must be prepared using Internation… Read More
2023-07-19 11:18
Tax planning strategies are methods used to minimize tax liabilities and maximize tax breaks in a legal and efficient manner.
The UAE Ministry of Finance has announced corporate tax… Read More
2023-07-14 08:36
Navigating tax compliance for e-commerce businesses in UAE can be a complex affair, demanding precision and adherence to local regulations. Here are some key regulations and best practices t… Read More
2023-07-14 07:33
As per the UAE Corporate Tax Law, Individual income including the capital gain generated through individual capacity does not subject to Corporate Tax, and the natural person can enjoy the b… Read More
2023-07-08 07:42
Who is a Non-Resident Person?
Non-Resident Persons are juridical persons who are not Resident Persons and:
have a Permanent Establishment in the UAE; or
derive State Sourced Income… Read More
2023-05-24 12:32
Who is a Non-Resident Person?
Non-Resident Persons are juridical persons who are not Resident Persons and:
have a Permanent Establishment in the UAE; or
derive State Sourced Income… Read More
2023-05-24 12:26
What is meant by Audited Financial Statements?
Audited financial statements are the financial statements of an organization that have been examined by a certified auditor.
Are Aud… Read More
2023-05-24 12:20
The Authority has issued Ministerial Decision No.114 of 2023 on the Accounting Standards and Methods of Federal Decree-Law No.47 of 2022 on the taxation of corporations and businesses.
Th… Read More
2023-05-24 09:21
We know that all business licenses registered under the UAE authority should register for corporate tax, irrespective of their income levels, and the corporate tax rate is 9% for the taxable… Read More
2023-05-23 14:36
The authority has now given a clear list of the taxable person who is exempted from Corporate Tax registration. By default, it means that any other taxable person is mandatorily required to… Read More
2023-05-22 06:43
Both resident and Non Resident is liable to pay tax under corporate tax if the conditions for being a resident and nonresident satisfies. But there are certain income and related expenses de… Read More
2023-05-13 05:45
As per the Ministerial Decision No.97 of 2023 for the purpose of Federal Decree-Law No.47 of 2022 on the taxation of corporations and businesses, the authority has clarified the requirements… Read More
2023-05-12 06:32
The United Arab Emirates is a country in Western Asia located at the eastern end of the Arabian Peninsula, with an… Read More
2023-04-19 16:02
After successfully creating the company account on the goAML system, logging into the account is not straightforward.
Hence following are the steps to perform to access your goAML account… Read More
2023-04-17 07:50
What is Tax Clearance Certificate?
The Tax Clearance Certificate is given based on your trade license and it confirms your standing tax affairs are in order with the FTA.
This is basic… Read More
2023-04-17 07:47
The corporate tax rate in UAE (Mainland)
Corporate tax will be levied on the taxable revenue of firms in the UAE at the following rates:
A 0% corporate tax rate applies to taxable inco… Read More
2023-04-17 07:43
The rate of economic growth in a country increases with the amount of investment made there. The taxation of investment funds under the UAE corporate tax offers specific tax benefits and a c… Read More
2023-04-07 05:51
This decision will give more clarity to Article 21 of Corporate Tax Law, especially on the threshold for applying for small business reliefs.
Small business relief is mainly to support an… Read More
2023-03-15 17:36
The UAE is one of the most happening places in the world, we can see people of various nationalities. Eventually, we witness the growth in career opportunities for people in the field of art… Read More
2023-03-15 17:30
Introduction of corporate tax (CT) in UAE that will be effective from 1 June 2023.
Just a brief about corporate tax –it is a direct tax that will be levied on annual taxable profit… Read More
2023-03-09 08:34
Corporate Tax –
The form of tax levied on the net income of the business and other corporations. It will be imposed on the rates decided which are 0% or 9% or 15%
Who are Taxable… Read More
2023-03-04 17:17
The Federal Decree-Law No. (47) of 2022 referred to as the “Corporate Tax Law” was issued by the United Arab Emirates, on 09 December 2022.
The introduction of corporate tax i… Read More
2023-02-24 06:52
Transfer pricing refers to determining the value of goods and services exchanged between related parties (such as subsidiaries of a multinational corporation) to ensure that the prices are f… Read More
2023-02-24 06:47
Under the United Arab Emirates (UAE) Corporate Tax Law, tax losses can get transferred between affiliated companies within the UAE. To be considered affiliated companies,
Both taxable per… Read More
2023-02-13 07:18
On January 31, 2022, the United Arab Emirates (UAE) Ministry of Finance announced the implementation of a federal Corporate Tax (“CT”) on business profits, beginning with the fis… Read More
2023-01-04 07:23
According to the Economic Substance Regulation of the United Arab Emirates, a License holder must file an ESR Notification and an Annual Report with the Regulatory Authority within the given… Read More
2023-01-03 05:31
As e-commerce business is increasing day by day. It’s very important to understand how VAT will be applicable to the e-commerce business. Determining how the VAT is applicable to e-com… Read More
2023-01-03 05:27
Corporate Tax will be effective from 01 June 2023 in the United Arab Emirates. As a part of the corporate tax laws issued in the United Arab Emirates, the govt. has also introduced certain r… Read More
2022-12-29 09:09
Tax Residency Certificate can be obtained by both Individuals and Companies registered in the UAE (Except Offshore companies and foreign company’s branches in the UAE)
Individuals… Read More
2022-12-28 11:58
WHAT IS CORPORATE TAX?
It is a type of direct tax levied on the net income/profit of businesses or corporations. It is otherwise referred to as Business Profit Tax in many other countries… Read More
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