Beginning of the Tax Regime in the UAE Before the announcement of Tax Procedures, there has been extensive researches and studies on the part of the government, making sure that everything will be relatively easy for everyone in the country. Since the landmark Federal Law Number 7 of 2017 regarding Tax Procedures was issued by … Read more
Nobody wants a tax audit as it is believed to be draining. There are known ways to avoid this kind of audit without doing anything illegal. You can approach your tax consultant in UAE to ensure that you are indeed taking good steps in going under the radar of being audited. Regardless if you are … Read more
The term accounting is often thrown around during tax season. Before we look into how important proper book keeping in UAE is for business, let us cover the basic: what is accounting? Accounting is the term used in referring to the detailed and systematic recording of an organization’s financial transactions. There’s a lot of types … Read more
VAT has now come into force in Oman, which started on the 16th of April, 2021. A five percent standard VAT rate applies on majority of goods. Exempted items include the following: Food items such as fresh eggs, poultry, fish, meat, milk, fruits and vegetables, olive oil, coffee and tea, bread, sugar, nutritional products for … Read more
Non-core functions are often seen in a company. When you say non-core function. It means that it is a department or a part of your business wherein it doesn’t generate any revenue. But is simply there because it is part of what makes up a company. There is a number of non-core functions in a … Read more
Government authorities in UAE mandate businesses operating in the country to comply fully with tax regulations. Businesses that are struggling in matters related to VAT compliance in UAE are to seek the help of regulated tax agents in UAE to sort out all tax-related issues. If you don’t know already, the FTA, the country’s tax … Read more
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