The VAT payments in UAE throughthe new Emara Tax portal has changed effective 1st December 2022. Payment procedures are complicated now unlike earlier. If the payment is not done correctly the amount bounces back which may result in fine.
A tax audit is conducted by the Federal Tax Authority (FTA) to examine the tax liability of a business covering the VAT Laws and Excise Tax laws. Under law no.7 of the federal Decree-Law, a registered organization is responsible to comply with the tax laws laid by the authority. Here, all the processes fall in … Read more
Companies today opt for a leaner budget where outsourcing helps them by reducing headcount. We have listed five reasons why it’s better to get external assistance on accounting and tax. Cost Reduction Most companies make the error of hiring too many junior accountants for low wages and convenience. This risks them as they may not … Read more
VAT! How it All Started? Genesis being World War I in Germany, VAT has gained recognition and its modern shape in the 1950s, after implementation in Ivory Coast, a French Colony. Evolving since then, VAT has now become an integral part of the taxation system of more than 150 countries across the globe. Most organizations … Read more
