Notably, Dubai is the third-largest crypto market in the Middle East, with an estimated $26 billion in total transaction values, led by United Arab Emirates audit firms. With the UAE Securities and Commodities Authority’s 144 regulation, which was published in 2020, cryptocurrencies and other digital assets will be able to be used as stored values … Read more
No matter how many firms or commercial activities the taxable Person engages in during the tax period, a 0% rate will be applied to taxable Income that does not exceed Dh375,000. If your taxable Income for the applicable tax period is more than Dh375,000, you’ll pay Tax at a rate of 9%. The taxable income … Read more
UAE corporate tax exempts specified persons on a varied basis, this includes earnings from any kind of job, whether in the private or governmental sector, including salaries and other forms of compensation. Further, except when a business license or permission is necessary, individuals may engage in real estate investing in their individual capacities. Dividends, corporate … Read more
With its meteoric rises and precipitous falls over the last few months, Bitcoin, a well-known crypto-currency, has shocked the world. Bitcoin is currently mostly traded by individuals and some speculative funds, but it won’t be surprising if it begins to appear on companies’ balance sheets. Now you must be wondering, what are the accounting implications … Read more
The term ‘financial crime’ is used to describe a wide range of criminal activity that includes money laundering, bribery, corruption, fraud, and terrorist financing, to mention a few. In recent years, there has been a significant increase in the number of financial crimes committed in the UAE. To combat financial crime, the UAE government has … Read more
An annual financial audit can be an invaluable tool for uncovering potential financial intricacies in business conduct. A financial audit is a comprehensive review of an entity’s financial records to identify whether they are in compliance with applicable laws, regulations, and standards. It includes checks on the accuracy and completeness of financial data, as well … Read more
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