A Tax Registration Number (TRN) is issued automatically once VAT registration with the Federal Tax Authority (FTA) is complete, it isn’t something applied for separately. The UAE introduced VAT on 1 January 2018 at a standard rate of 5%, following the Excise Tax that came into effect in October 2017, and businesses that meet the … Read more
Accounting and financial reporting are related but distinct functions. Accounting is the process of recording, verifying, and organizing a company’s financial and non-financial transactions. Financial reporting takes that accounting data and presents it in a structured, standardized format to shareholders, investors, regulators, and other stakeholders who need to understand the company’s financial position without digging … Read more
Forensic accounting has become one of the most important financial disciplines in the UAE’s increasingly regulated business environment. As financial crimes grow in complexity, from corporate fraud and embezzlement to money laundering and digital asset misappropriation, businesses, law enforcement agencies, and courts increasingly rely on forensic accounting techniques to uncover the truth behind financial data. … Read more
The UAE VAT Penalty Framework VAT penalties in the UAE are governed by the UAE Tax Procedures Law under Federal Decree-Law No. 28 of 2021 and the penalty framework established by Cabinet Decision No. 129 of 2025, which restructured the UAE tax penalty system with effect from 2025. Cabinet Decision No. 129 of 2025 replaced … Read more
VAT on residential property in the UAE is not a single yes-or-no answer. Whether rent or a sale price carries VAT depends on how new the property is, whether the tenant is a short-term or long-term occupant, and whether the property is purely residential or mixed-use. Landlords who assume “residential means exempt, full stop” are … Read more
Non-profit organizations in the UAE carry a distinct kind of accountability. Donors provide funding well beyond what the organization strictly needs to operate, trusting it will be used for the stated public benefit purpose, and they have every right to expect transparency in return. An annual audit is how that transparency actually gets demonstrated, not … Read more
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