How to Claim VAT Refund in UAE for Business

How to Claim VAT Refund in UAE for Business

VAT return by an individual entrepreneur – Is it possible? An individual entrepreneur can be exempted from paying a multitude of taxes by applying special tax regimes. There are certain instances too when individual entrepreneurs too are expected to pay VAT. The article below helps you with details like how to draw up and calculate … Read more

VAT Fines and Penalties in UAE

VAT Fines and Penalties in UAE

Consequences one faces for Late filing or Non-filing of VAT The FTA (Federal Tax Authority) imposes the VAT fines and penalties in the UAE. All businesses in the UAE must comply with the rules and regulations of the FTA to avoid heavy penalties and VAT fines. All the administrative VAT fines and penalties for violating … Read more

Why Audit Firm is Important for Businesses in the UAE, Dubai

Audit Firm

Audit in Dubai is a vital activity of any information security and compliance program and is a valuable tool for effectively and appropriately controlling risk. The auditing firm in Dubai, UAE that we choose will perform objectively and designed to enhance and mature a company’s business. Also, gives an insight into a company’s policies, procedures … Read more

ESR Return Filing in UAE- Economic Substance Regulations

ESR Return Filing in UAE- Economic Substance Regulations

The Economic Substance Regulation (ESR) has been set forth by the Organization for Economic Cooperation & Development (OECD). The following are the fundamentals: Curbs harmful tax practices To prevent the jurisdiction from being included on the substantial activities by closely tracking the global standards Facilitating offshore structures or arrangements aimed toward attracting profits which don’t … Read more

Financial Auditing helps you to Improve your Business?


Financial audits can help you improve your business in a multitude of ways. It is analysing and evaluating the financial statements of a business. The financial statements are the records of business transactions of your company. There are a few types of financial statements. Balance sheet Cash Flow statement Equity statement Income statements All these … Read more

Importance of VAT in UAE


Value Added Tax (VAT) is a common indirect tax that is levied by many countries. It is a consumption tax. VAT is levied indirectly on the final consumer for consuming the goods or services. It is meant as target control and it increases in percentage depending on the stage of the goods/production. In the UAE, … Read more

Annual Financial Statement Preparation In Dubai


Dubai based LLC (Limited Liability Companies) should prepare their annual financial statements based on International Financial Reporting Standards (IFRS). Enterprises are expected to prepare and organize an improved audited financial statement each year as per IFRS. In the case of the transitional holding company, consolidation is not necessary. Holding companies prepare their financial statements under … Read more