EmaraTax represents a significant leap in the United Arab Emirates' journey to modernise its tax system and streamline processes for taxpayers. This comprehensive guide delves into the intricate workings of EmaraTax, from its relevance in the UAE's fiscal landscape to...
Accounting
What is Qualifying Income in UAE Corporate Tax?
Have you ever asked yourself, "What is qualifying income in the UAE?" Understanding qualifying income in corporate tax is essential for businesses operating within the Free Zones of the United Arab Emirates. By implementing the UAE Corporate Tax Law on 1 June 2023,...
How to Open An Emirates NBD Account
Emirates NBD, a leading bank in the Middle East, offers a straightforward process for individuals and businesses interested in opening a new bank account. Whether you're a salaried employee, a self-employed professional, or a company representative, the bank's...
A Guide To The Top Audit Firms in Dubai
Audit firms in Dubai play a crucial role in maintaining businesses' financial integrity and transparency in this bustling metropolis. With a regulatory environment that demands rigorous compliance and adherence to international standards, these firms offer various...
What is Account Receivables?
Understanding account receivables is essential for grasping the financial dynamics of any business. These are the sums of money owed to a company by its customers. These are for products or services which were provided on credit. As a critical component of a company's...
What is Equity in Business? And How To Calculate Equity
Equity in business refers to the ownership value held by shareholders or owners after deducting total liabilities from the company's assets. It is a fundamental component of a company's financial structure, indicating its financial strength and stability. Calculating...
What Is Financial Accounting And Why Is It Important For Your Business
Financial accounting is an essential aspect of any business, providing a clear and comprehensive view of the organisation's monetary transactions and overall financial health. It enables businesses to compile accurate financial statements critical for effective...
Who is Exempt From VAT In The UAE?
Navigating the intricacies of the VAT exemption in the UAE can be a complex process for businesses and individuals alike. With a standard VAT rate of 5%, specific sectors and transactions within the Emirates are granted exemptions, offering relief from this tax to...
VAT Registration for New Companies in UAE
Are you starting a new business in the UAE? You'll need to get to grips with the VAT (Value Added Tax) registration process. Since January 1, 2018, VAT has been applied at a general rate of 5% to most goods and services in the UAE, affecting every aspect of your...
How To Submit Your UAE VAT Return
Submitting VAT returns in the UAE can seem complex and daunting, but it doesn't have to be. This guide covers everything you need to know about UAE VAT returns, from understanding their importance and role in the UAE's tax framework to providing step-by-step...
UAE’s Corporate Tax Relief Initiatives for Small Businesses
Running a small business in the UAE has become a tad more complex with the recent introduction of a federal Corporate Income Tax. But, there's a silver lining - a range of tax relief strategies designed to lighten the load for small businesses. We are here to share...
The Ins and Outs of Excise Tax: How It Influences Trade and Business in the UAE
Ever wondered how the Excise Tax influences trade and business in the United Arab Emirates (UAE)? Introduced in 2017, the Excise Tax significantly impacts consumer behaviour, business strategies, and trade dynamics in the UAE. When you're familiar with this form of...