Tax residency is an important concept for individuals and businesses that operate across multiple countries. It determines where an entity is considered to be a tax resident and therefore where they are liable to pay taxes. In the United Arab Emirates (UAE), a tax residency certificate (TRC) is issued by the Federal Tax Authority (FTA) … Read more
In compliance with the private companies’ regulations 2016, all FZLLCs and branch offices are required to prepare and submit their Audited Financial Statement and Annual Return each financial year. Before all companies registered with DDA were required to prepare the report but not to submit it. Now companies are expected to submit their most recent … Read more
Business owners make every effort to make their business successful and deliver the desired profit levels. Being overwhelmed with day-to-day activities, business owners often miss out on red flags of underperformance. By identifying the issues earlier, it is easier to implement corrective actions.
Hello there, this is Sudeshna, a “Business Visionary Coach” helping you to reach your goals and your true potential. We are almost at the end of 2021 and 2022 is knocking at the door. It is the right time to act, to set up your goal for 2022. Let’s aim for the sky, choose a … Read more
Let’s have some general insights to the Federal Law No. (2) of 2015 on Commercial Companies with regards to the company formation. What is a company? According to the Law a company is a contract whereby two persons or more are obliged to contribute to an economic project aimed to make profit, through providing a … Read more
In UAE, according to the Federal Law No 2 of 2015 on Commercial Companies and the UAE VAT law and relevant free zone laws, it is mandatory for the companies to maintain the books of accounts for at least 5 years. Maintaining proper books of accounts is compulsory in the UAE and any violations will … Read more
As today, 5th of June, we celebrate the World Environment Day it is important to fulfill our responsibility to the environment as well. So lets get some idea about the Environmentally preferable purchasing as a baby step to be more environmental in our businesses. Environmentally preferable purchasing [EPP] or responsible purchasing is a process which … Read more
Risk management is a process in which businesses identify, assess and treat risks that could potentially affect their business operations. Risk management is consisted with the identification, analysis, and response to risk factors that form part of the life of a business. Effective risk management means attempting to control future outcomes by acting proactively rather … Read more
We are in a period where sustainability is very crucial to the world. With the covid 19 pandemic everyone is talking about how we should get ahead after this pandemic and we constantly hear the word, ‘new normal”. According to the experts, post-pandemic, we need to build back better, and sustainability will be the key … Read more
Every business is vulnerable to fraud. That’s largely because there are so many different kinds of fraud that you don’t think will take place. Globally, organizations lose an estimated 5% of their annual revenues to occupational fraud, according to a survey of Certified Fraud Examiners. It’s an employer’s worst nightmare, an employee is dissatisfied with … Read more
