Blogs
VAT Penalties And Its Legal Actions
April 24th, 2023Assuming that you have had a conversation regarding VAT penalties with your accountant, you might feel as though all your options have been completely exhausted. This is where you probably require some additional assistance in understanding VAT penalties and how they can be avoided. This blog will give you an insight into what is VAT penalty,...
Professional Accounting Services To Help Your Business
April 24th, 2023Running a business needs hard work and dedication. As a self-employed contractor or a big business owner, you will be doing and managing a wide array of roles in your day to day business. There are often times when you fail to notice the need for a skilled professional to do a particular task which causes monetary loss. Financial management,...
Understanding UAE’s VAT Laws Better
April 6th, 2023Value Added Tax (VAT) was introduced in the United Arab Emirates at a rate of 5 percent in January 2018. This government decree was bought in to provide UAE with a new source of income, that will be used to provide better public services. The main agenda behind this move is to help the United Arab Emirates government to move towards its aim of redu...
Good Bookkeeping Practices For Your Business
March 18th, 2023Bookkeeping is the process of keeping track of all your money coming in and out and flows within your business. Having a chronological record of all the transactions like credit/debit transactions, a record of the assets/liabilities held by your business, and reports of income, expenses, and sales all come under bookkeeping services.Bookkeeping ess...
How Much Do You Know About Standard VAT Accounting Scheme?
March 6th, 2023With the introduction of VAT in UAE in Jan of 2018, there is a 5 percent tax levied on all goods and services that are not VAT exempt. Companies dealing with the said goods and services needed to register themselves under the law. With VAT part of all the financial transactions for any company, it is important to learn more about VAT Accounting Sch...
Tips To Survive An External Audit
February 18th, 2023Whether your company is a recent establishment or a really old one, regular audits are necessary to keep your organization’s accounts updated and in compliance with the laws. The process provides third-party assurance to the stakeholders that the company’s financial statements are in an order allowing them to evaluate and improve risk management, c...
6 Ways To Keep Away From VAT Penalties
February 4th, 2023Every country has their own taxes. It is a mandatory financial charge imposed upon a taxpayer individual or any legal entity by the government in order to fund the government. Recently UAE introduced the Value Added Tax (VAT) on the 1st of January 2018. According to the law, a 5 per cent tax is levied upon the majority of transactions in goods and...
Signs Your Business Needs Tax Consultancy Services
January 23rd, 2023Taxation is still fairly new in the United Arab Emirate and if you will tell yourself the truth, you have no clue as to what tax is all about and how to do the filing. The truth is, filing taxes is a complicated process. So if you are like most smart business owners, you have already hired a tax consultant to handle all aspects of filing your...
Qualities to Look Out for In a Tax Consultant
January 10th, 2023A good tax consultant will not only help you to avoid paying heavy taxes that arise from wrong filing but can also develop a suitable strategy that can save millions over the life of your business. In this post, we shall be looking at the qualities of a good tax consultant and things to keep in mind when hiring one for your business.&nbs...
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