Benefits of having Registered Auditors: It is essential today to understand the financial numbers of the business. These financial numbers can be obtained by performing audits in a company. An audit helps to find out various loopholes of the company through a thorough inspection of the book of accounts. Registered Auditor A person or group...
Read MoreAccounting is a critical factor for the business. Having the touch of IT can enhance the speed and accuracy of computations and enhance its flexibility to change and safe storage of information. Web hosting off-site or called the cloud, is the latest with accounting applications. Let us know more about what Cloud Accounting is, Cloud...
Read MoreHow to Recover VAT on Business Expenses in UAE: VAT applies to business n the UAE provided that certain conditions are met. All business in the UAE will need to record their financial transaction in order to ensure that their financial records are accurate and up to date. Also, they have required keeping into consideration...
Read MoreAccounting Challenges Faced by Corporates: All Corporates are faced with many challenges due to their peculiar nature. The survival of Corporates depends on effective communication of its accounting language. For this reason, it is important to face and adequately prepare them so that the effort will yield positive results. The following are some of the...
Read MoreVAT return filing law According to the UAE VAT law, every VAT registered company needs file and pay their VAT returns quarterly by the 28th of the subsequent month. In case the due occurs on a Friday or Saturday, it is moved on to the next working day. A little more explanation here. If the...
Read MoreThe refund scheme for the calendar year started from March 2020, for any foreign business. The foreign company must assess whether they fall under the criteria. If they do, they can submit an application to the FTA on a claim form for any foreign business-related UAE VAT incurred in the relevant periods before the set...
Read MoreAudits are thorough examinations of all books of accounts of a company and are an integral part of every business. Many think of audit performance as an obligation but truly it is more than just an obligation, it helps the business in many ways. Audit adds value to a business in the following ways Improvement...
Read MoreThe current pandemic situation spanning across the whole world has affected many businesses, and each and every company is trying to survive. They are finding cost-effective ways in order to pull through this pandemic. In the midst of this pandemic, professional accountants can help your company survive in the following ways. Develop a back-up plan:...
Read MoreVAT 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 MoreConsequences 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...
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