What Electronic Services Are Under UAE VAT Electronic services, for UAE VAT purposes, are services delivered automatically via the internet, an electronic network, or a digital marketplace, with minimal or no human intervention. The key characteristic is automation: a service that requires significant human input at the point of delivery is not an electronic service, … Read more
No matter how large or small a Dubai, UAE organization, it must use its technology systems effectively to access data. Technology investment is a must if a company in Dubai and UAE wants to grow and prosper. However, relying on IT may lead to technological risks for the company. This is where an IT Audit comes in handy. IT … Read more
The latest guide on Anti Money Laundering (AML) for the legal industry from regulators reinforces their expectation that UAE businesses assess whether or not they should establish an independent audit and determine if it would benefit them in any given case. Regulation 21 of the 2017 Money Laundering Regulations states that an independent audit firm must … Read more
There are numerous farmhouses and farmlands across the UAE used for both commercial and non-commercial purposes, ranging from agricultural production to vacation rentals and staycation destinations. Owners of these properties need to understand the VAT implications of how their property is actually used, since the treatment differs considerably depending on classification. This guide covers VAT … Read more
Auditing a construction company goes well beyond confirming that guidelines and specifications are being followed. It covers pre-construction planning, the entire build process, and financial control throughout, with a consistent focus on cost management. The internal audit checklist for a UAE construction company includes risk management planning, invoice monitoring, and confirming industry best practices are … Read more
IAS 1, Presentation of Financial Statements, is the IFRS standard setting out the minimum content, structure, and general requirements for a complete set of financial statements. Every UAE business preparing IFRS-compliant statements, whether for statutory audit, Corporate Tax, or stakeholder reporting, relies on IAS 1 as the foundational structure everything else sits within. This guide … Read more
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