Expo 2020 is finally here! Indeed, the UAE Government has ensured that the ease of doing trade during Expo 2020 relieves the stress out of the participating countries. The Federal Tax Authority (FTA) has issued a Cabinet Decision on VAT Refunds for Expo 2020 participating countries and organizations. The VAT refund for Expo 2020 is … Read more
Financial forecasts are one of the most crucial parts of business planning, operations, funding, and budgeting. They are what leaders and stakeholders rely on in order to make informed business decisions. A financial forecast provides an estimate of a company’s future financial or economical outcomes. It is an integral stage with the annual budgeting process. … Read more
It has been a long time now that Gulf economies have kept their taxes low or zero to attract international investors and company owners. The GCC continues to be an attractive location for global investment owing to the region’s generally favorable tax regimes. Nonetheless, several changes have been implemented to diversify the region’s income streams … Read more
An amendment to IFRS 16 Leases related to Covid-19-related rent concessions has been published by the International Accounting Standards Board (IASB) to guide audit firms in Dubai in extending the application date of the amendment from last year – in May 2020 amendment – to enable lessees to account for Covid-19-related rent concessions beyond June … Read more
What is Value Added Tax (VAT)? VAT (Value Added Tax) got effective in UAE on January 1st 2018 in order to provide UAE with an extra source of income for improvising public services. The rate of VAT is 5% in UAE. What Does VAT Refund Mean? The Federal Tax Authority of UAE has introduced a scheme … Read more
The incidences of fraud on businesses across the globe are on the rise as fraudsters and scammers are constantly devising means to perpetuate their fraudulent activities. Their common fraud targets on companies are the companies’ bookkeepers such as the accountants, payroll specialists, and other finance members because they occupy sensitive positions and deal with the … Read more
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