Closing a RAK Free Zone (RAKEZ) company is not the same as simply letting a license lapse. RAKEZ trade license cancellation is a formal de-registration process, and until it is completed and confirmed, the company is treated as still existing, still liable for renewal fees, and still exposed to penalties. This guide covers the full … Read more
Online retail continues to grow as a share of overall commerce in the UAE, and while the accounting rules that apply to any business apply just as much to an e-commerce one, the way transactions actually happen online creates challenges that a traditional retail business simply doesn’t face. Getting e-commerce accounting right isn’t about applying … Read more
An audit is not just a formality attached to Corporate Tax filing in the UAE. For many businesses it is a legal obligation with its own thresholds, deadlines, and consequences for getting it wrong. Some companies must have their financial statements audited every year regardless of size. Others never need a statutory audit at all … Read more
Why Supply Chain Audits Matter More Than Most Businesses Realize The supply chain is, for any retail or manufacturing business, the component everything else ultimately depends on — and it is also the one most companies are least likely to examine closely until something has already gone wrong. Optimizing systems already in place tends to … Read more
What Fixed Assets Are and Why Their Accounting Treatment Matters Fixed assets, referred to as Property, Plant and Equipment (PP&E) under IFRS, are tangible assets held by a business for use in production, supply of goods or services, rental, or administrative purposes, and expected to be used over more than one accounting period. They include … Read more
Many entrepreneurs treat accounting and bookkeeping for a small business, including an Amazon business, as a hassle to avoid. It’s genuinely necessary, though, understanding your business’s operations and performance is essential to growing it. Even when outsourcing accounting and bookkeeping to a third-party provider, understanding how the underlying work is done helps you actually follow … Read more
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