Determining of Taxable Income under UAE Corporate Tax Law
Under the UAE Corporate Tax Law, Taxable Income is determined starting from the Accounting Income which is the net profit or loss for the relevant period based on IFRS, IFRS for SMEs, or the Cash Basis of Accounting. Adjustments are then made to calculate the Taxable Income for Corporate Tax Purposes. Taxable profits refer to […]
Introduction to UAE Corporate Tax Law
In January 2022, Ministry of Finance announced that it will introduce federal corporate tax (CT) on the net profits of businesses. Businesses will become subject to UAE Corporate Tax from the beginning of their first financial year that starts on or after 1 June 2023.CT will be applied across all emirates. Why is the UAE […]
IFRS 18 Impact Audit Procedures MAKCA Auditing
Are you aware of how IFRS 18 may impact your auditing procedures? Understanding how IFRS 18 impacts financial reporting and auditing is essential. This article will explore what IFRS 18 is for companies and auditors, and how the new standard has reshaped the auditing process in Dubai and UAE. IFRS 18 Impact audit procedures IFRS 18 impact […]
Best Bookkeeping Services in Dubai, UAE
Do you struggle to keep track of your company’s finances? For accurate and current accounts, bookkeeping services are vital in Dubai. Hiring a professional bookkeeping service allows you to focus on your business growth while they take care of the numbers. Bookkeeping Services in Dubai Bookkeeping services in Dubai assist businesses to maintain accurate financial records. All financial […]
Accounting and Bookkeeping in Dubai – MAKCA
Do you struggle to manage your finances effectively? For businesses in Dubai to remain organized and compliant, accounting and bookkeeping are essential. Hiring a professional company can make a huge difference to your financial management. Bookkeeping & Accounting Firm in Dubai Accounting and bookkeeping firms in Dubai offer businesses professional services that ensure accurate financial records. These firms […]
VAT Refund Scheme For Tourist VISA Holders
Ever wondered how you can get a refund on VAT as a tourist. The VAT refund service for visa holders with tourist visas is very popular, especially in countries like the UAE where visitors are able to reclaim their tax on purchases. This article will walk you through the entire process and provide useful information on VAT […]
When and Why You Need To Deregister VAT In UAE
Why and when you need to deregister VAT in UAE When a business does not meet the requirements for VAT registration, it is necessary to deregister. A drop in taxable supply below the mandatory threshold, or the cessation of business operations are common reasons. To avoid any fines or complications, it is essential that the VAT deregistration […]
Vat Refund Scheme For UAE Nationals
Are you familiar with the UAE VAT refund scheme? This initiative allows UAE citizens to reclaim the VAT they paid on certain goods and services. Understanding the process is essential, whether you are a businessperson or simply curious how things work in Dubai and the UAE. Tax Refund Scheme for UAE Nationals The UAE VAT refund scheme […]
Accounting Services Taking Your Business To The Next Level
Are you ready to move your business forward with professional accounting services? Accounting services are the foundation that your business requires to grow, remain compliant and make data-driven decision. These services can help boost financial management and business productivity with the right support. Accounting Services Taking Your Business To The Next Level Accounting services have a significant […]
Real estate services vat in UAE – MAKCA Auditing
Are you familiar with how the VAT affects real estate transactions in UAE? Real estate VAT in UAE is a hot topic for companies involved in leasing and property transactions. Anyone looking to invest in or operate on the UAE real estate industry must understand the VAT regulations. What is VAT in Real Estate? The VAT (Value-Added […]
