VAT Effect on Designated Zone Companies UAE: Guide
Understanding VAT Impact on Designated Zone Businesses Business owners in the UAE often consider setting up in Designated Zones to gain tax benefits. A Designated Zone, which is a qualified Free Zone, lets companies save on taxes if they apply VAT rules correctly. The UAE VAT law treats a Designated Zone as outside the country […]
VAT on Designated Zone Goods UAE: Supply Rules Guide
What’s a Designated Zone & How Does It Affect VAT? Companies in the UAE often set up legal business entities in Designated Zones, also called qualified Free Zones. When a company operates in a Designated Zone, it must follow special VAT rules. Many people don’t fully understand how VAT applies to business transactions in these […]
VAT Impact on Marine Sector Transactions UAE Guide
Understanding VAT on Marine Industry Transactions in UAE The UAE’s coastal position has made the marine industry a major part of its business world. Companies in the UAE often deal with shipping, vessel management, and marine services. Each transaction in the marine sector may face different VAT treatments, depending on what’s involved. You need to […]
Transfer Pricing Role in Multinational Companies Guide
Why Is Transfer Pricing Important for Multinational Companies? Every multinational company must use transfer pricing when it deals with its branches or subsidiaries in different countries. The company can set transfer prices for goods, services, or intellectual property exchanged between its own divisions. If companies manage transfer pricing properly, they can follow tax laws and […]
Input Tax Recovery UAE: VAT Compliance Guide
What Does Input Tax Recovery Mean Under UAE VAT? Every business in the UAE must understand input tax recovery to manage VAT properly. Companies pay VAT on expenses for goods or services. If they use these expenses to make taxable supplies, they can claim the VAT back. The final tax amount a company pays should […]
FTA Tax Audit UAE: Main Triggers & Compliance Factors
What Causes an FTA Tax Audit in the UAE? Every business in the UAE must meet tax requirements. If a company doesn’t comply, the FTA can choose to audit the business. The management must ensure that every tax task runs smoothly and accurately. When a company ignores its tax duties, it might face penalties or […]
Corporate Governance & Internal Controls Value Guide
Why Corporate Governance Matters for Every Business Companies must set up strong corporate governance to protect their business. The board of directors should create and review a good governance framework. Companies face many accounting frauds, so each firm must build reliable internal controls to stay safe and meet regulatory demands. In the UAE, new laws […]
ECL Calculation Under IFRS 9 Guide for Companies
What Is ECL Calculation and Why Does It Matter? Companies use ECL, which means Expected Credit Loss, to estimate possible losses from loans or receivables. The IFRS 9 standard says that every company must record these expected losses in their financial statements. IFRS 9 replaced the old backward-looking rules with a forward-looking model. It means […]
IFRS 15 Application in Financial Statements Guide
Introduction to IFRS 15 and Revenue Reporting Companies in Dubai follow International Financial Reporting Standards (IFRS) to stay compliant. IFRS 15, called ‘Revenue from Contracts with Customers’, sets new rules for reporting revenue in financial statements. When a company offers many products or services, applying IFRS 15 needs careful review of customer agreements and each […]
Claim VAT Refund for Expo 2020 Dubai | Step-by-Step Guide
Understanding VAT Refund for Expo 2020 Participation When a company joins Expo 2020 Dubai, it spends money on many goods and services during the event. UAE law gives Expo participants the right to claim a VAT refund on those eligible expenses. The participant should follow the law in every step for tax compliance. The government […]
