Corporation Tax was implemented in the UAE on January 1, 2018. Since then, businesses have been subject to several requirements under the Corporation Tax Law. Each business enrolled for Corporation Tax must file tax returns with the Federal Tax Authority (FTA). However, corporate tax UAE businesses continue to make tax-related mistakes and need help. Let’s […]
Common Corporate Tax Mistakes in UAE Read More »
A credit exists for foreign tax obligations on a UAE Taxable individual’s income. The foreign tax credited is limited to the amount of Corporation Tax that must be paid on the relevant income. Any unutilized foreign tax relief cannot be carried forward or backdated and will expire and be lost. Small Business Relief The Corporate
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The History of Corporate Tax in UAE For many years, the United Arab Emirates operated as a very low tax jurisdiction. Citizens do not pay tax on their income, and most companies have never had to pay any corporate tax in the UAE. Instead, most of the state’s revenues came from nationalized and private fossil
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How Understanding the Basics of Corporate Tax in UAE Saved My Life The Gulf region has for the longest time been a hub of tax free money spinning business. The popular image of super rich Arab sheikh’s paying no Corporate Taxes whatsoever and paying for the world of luxury by doing nothing and just letting
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Accounting and tax interview questions while hiring a good accountant is one of the most essential tasks you need to do as a business owner. The right accountant will help your business grow; the wrong accountant could harm your health. Here are some tips that can help you ask the right interview questions to your
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Are You Overpaying on Your Corporate Tax? The word corporate tax brings shudders to many people. But they are not necessarily a very good thing to be done practically. On some level, your Corporate Tax UAE funds services that benefit the public and you or which no one entity would otherwise like to pay, such
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Cash flow is the recorded money flowing in and out of your company’s account. It is reported in a monthly cash flow statement. If you have more money coming into your account than going out, your business is in a positive cash flow position. When more money is going out of your business account than
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Understanding the bookkeeping curriculum is important for all types of Bookkeeping Services Dubai. It breaks down the entire process of bookkeeping duties into a few basic steps. Many of these steps are automated with accounting and specialized software. It implicates the history of a firm’s financial transactions and the secure filing of accounting documents. What
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How accounts are classified is fundamental to a company’s accounting and bookkeeping process. You record financial transactions to show economic activity and add or subtract accounts. Small businesses often hire a certified public accountant to create the chart of accounts. They use financial software designed for small businesses to create a chart of accounts that
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Keeping books for your business may inspire the same feelings as creating a budget for your expenses. As annoying as it is to record every transaction, careful bookkeeping is integral to running a business. Your accountant can help you with your bookkeeping and can also help you prepare your financial statements. What is an IRS
The Importance Of Accurate Bookkeeping In Avoiding IRS Audits Read More »
