What an Audit Firm Actually Does An audit firm examines a business’s financial records, internal controls, and compliance position, and delivers an independent, professional opinion on what it finds. That opinion might assess whether financial statements accurately represent the company’s position, whether internal processes are functioning as intended, or whether the business is meeting its … Read more
The Dubai Development Authority (DDA), formerly the Dubai Creative Clusters Authority (DCCA), was established under Law No. (10) of 2018 to regulate real estate development, urban planning, and licensing for its registered businesses. Closing a DDA-licensed company follows a defined 7-step process, and skipping or mishandling any step can leave a company technically still liable … Read more
The assets, business, aim, purpose, and structure of an unincorporated partnership are viewed as belonging to the partners themselves, rather than the partnership as an entity. How Corporate Tax applies to a partnership or association is a common topic in daily business discussions. This guide divides the topic into local and foreign partnerships to help … Read more
VAT return filing is one of the most routine, and most frequently mishandled, compliance tasks for VAT-registered UAE businesses. The return itself is a fairly standard form, taxable supplies, output VAT, input VAT, net amount due, but the errors that trigger FTA penalties usually happen upstream of the form itself: in how transactions were classified, … Read more
Zero-rated and exempt supplies both end up looking the same on an invoice, no VAT charged, which is exactly why they get confused. The difference that actually matters sits behind the scenes: a business making zero-rated supplies can recover the VAT it paid on related costs, while a business making exempt supplies cannot. That single … Read more
How Does UAE Corporate Tax Apply to Real Estate Businesses and Investors? UAE Corporate Tax, introduced under Federal Decree-Law No. 47 of 2022, applies to financial years beginning on or after 1 June 2023. Real estate is one of the sectors most affected by the new regime, because property income can fall into several different … Read more
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