As the United Arab Emirates is transforming into one of the world’s most prestigious centers, the population of expatriates in the country is also increasing. All thanks to immigration which plays a pivotal role in boosting the economy. Hence, to make the process simpler for expats, the government has made […]
Continue ReadingArchives
The Ultimate Guide to Payroll Services in Dubai
Staff is one of the most valuable assets of a business. However, managing them is one big challenge. Recruiting talents, training and processing their skills, and retaining them take a ton of work. It is not only time-consuming but also prone to errors. Hence, to avoid this hassle, businesses seek […]
Continue ReadingHow to Download VAT Certificate in UAE
As per the UAE tax system, businesses with an annual turnover of AED 375,000 or more are required to register for VAT. Post registration, they must charge VAT on all taxable goods and services sold to the customers and accordingly submit regular VAT returns to the Federal Tax Authority. The […]
Continue ReadingHow to calculate tax liability for your business
Tax liability basically refers to the amount you owe in taxes. However, it can often be a challenge how to calculate tax liability. For working individuals, it is quite easy to calculate their taxes, while for self-employed individuals and businesses, it is a bit complicated. The gross tax liability is […]
Continue ReadingCorporate Tax in the UAE: Everything You Need to Know
Corporate tax in UAE is a direct tax imposed on the net income or profit of companies. It is also termed “Business Profits Tax” in some jurisdictions. On 31 January 2022, the UAE Ministry of Finance (MoF) announced a new federal corporate tax (CT) system in the country with effect […]
Continue ReadingHow to Become a VAT consultant in UAE?
VAT (Value-Added Tax) is a new concept in Dubai. However, many businesses are still not clear about the regulations pertaining to this new system. At the same time, it is also important to adhere to the VAT norms in order to avoid any legal repercussions. Hence, to make this a […]
Continue ReadingYour Essential Checklist for VAT Exemptions in Dubai
The Value Added Tax (VAT) was introduced in the United Arab Emirates to diversify the economy as well as to generate a new source of income for the government. This implementation has brought a major transformation in businesses operating in Dubai. However, to comply with the VAT rules specified by […]
Continue ReadingA Complete Guide to Corporate Tax Planning in Dubai
Dubai is globally acclaimed for its favorable business conditions including the attractive tax regime that draws global investors and entrepreneurs to set up their ventures in the Emirate. As per the new corporate tax system, companies operating in Dubai shall be subject to a corporate tax rate varying from 0-9% […]
Continue ReadingHow is payroll processed in UAE?
The payroll process in UAE is one of the core functions for businesses. Hence, companies must be careful and cautious about each step of the process to avoid errors. Moreover, it ensures that the workforce is satisfied and businesses stay compliant with the UAE labor laws. Therefore, the companies are […]
Continue ReadingAdvantages of Accounting Firms in Dubai, UAE
Financial strength is the foundation of any successful business. It includes financial planning and adherence to the financial laws of the respective jurisdiction. The accounting firms in Dubai help companies handle all their financial needs and make informed decisions for their business. From daily bookkeeping and transaction recording to financial […]
Continue ReadingWhat is the Difference between Direct and Indirect Taxes?
Direct taxes are paid directly to the government by individuals and businesses while indirect taxes are levied on goods and services and collected from the end users who consume them. Taxes, being one of the prominent sources of income for the government, are charged in various ways. As per the […]
Continue ReadingWhat is ICV Certification in Dubai and How to get it?
The United Arab Emirates has a highly competitive landscape that requires businesses to adhere to various regulatory requirements and standards to thrive and expand. One such imperative requirement is the In-Country Value (ICV) Certification. This initiative was introduced by the UAE government to foster economic growth by encouraging businesses to […]
Continue ReadingEverything you need to know about Dubai Import Tax
People who are planning to do business in Dubai need to deal with the Dubai import tax. the legal framework for the import tax is quite detailed. The mandatory VAT registration threshold for businesses running in the UAE is AED 375,000, while the voluntary registration threshold is AED 187,500. Although […]
Continue ReadingHow is corporate tax different from value-added tax in UAE?
The United Arab Emirates has its own set of rules and regulations when it comes to business establishment. From understanding the law of the land to fulfilling all the liabilities, business owners must be cognizant of all these obligations. Since the tax structure of the UAE covers several taxes, the […]
Continue ReadingVAT Refund in Dubai for Tourists: A Complete Guide
The Value Added Tax (VAT), introduced in 2018 in the UAE, applies to various goods and services. Tourists, upon their visit to Dubai, can avail the opportunity to save some extra cash in their shopping, dining, and other entertainment experiences with the VAT refund program. The policy of VAT refund […]
Continue Reading