Everyone could save on corporate tax UAE this year because the IRS has historically adjusted for major inflation. The agency has tweaked many 2023 tax rules to help taxpayers avoid “framework escalation.” This is when workers are pushed into a higher corporate tax UAE bracket due to the impact of adjusting the cost of living […]
Tax Law Changes and Updates in 2023 Read More »
Companies must keep their books of accounts for at least five or more years after the end of each financial year under the Federal Trade Companies Law of the United Arab Emirates. Legal action can be taken against a business operating in the UAE with books found to be inaccurate or if it fails to
What Are the Steps for Preparing Accounting and Bookkeeping for UAE Corporate Taxes? Read More »
Benefits of Outsourcing THE CORPORATE TAX for Your Business in UAE The United Arab Emirates has seen extensive business expansion over the past few years, and the need for legal assistance to maintain proper books of accounts has become increasingly urgent. The United Arab Emirates Trading Companies Act 2015 and the United Arab Emirates VAT
The Benefits Of Outsourcing Corporate Tax To The UAE Read More »
WHAT IS ACCOUNTING SOFTWARE? Accounting software is a vital resource for modern businesses. It is essentially a “set of procedures including internal controls, books of accounts, and charts/charts of accounts, all of which are used to manage, record, and report transactions financial translation.” Functional modules commonly integrated into accounting software include Accounts Receivable, Accounts Payable,
Mitigating risk with timely amendments to the FTA Tax Audit Framework Read More »
A GUIDE TO VAT IN UAE AND 10 THINGS YOU SHOULD KNOW The Federal Tax Agency (FCA) has published a list of the top ten things businesses should know before applying for VAT to raise awareness in the business society and community. This, in turn, facilitates the smooth and efficient implementation of the VAT system
A Guide to VAT in UAE: 10 Things to Know Read More »
On November 29, 2022, the FTA (Federal Revenue Agency) of the United Arab Emirates issued a public interpretation (VATP032) regarding gold and diamonds. This amendment addresses the Corporate Tax UAE treatment of manufacturing services in the jewelry industry (especially for gold and diamonds), rendering the previous public clarification VATP029 invalid. The revised public clarification will
Tax Treatment of Making Services – Clarification of Publications on Gold & Diamonds Read More »
In the months leading up to the introduction of corporate tax, the United Arab Emirates Ministry of Finance launched the Corporate Tax Awareness Program. The program includes online and practical sessions to educate the business community on corporate tax law. “This is aimed at disseminating as much information as possible and maximizing the audience that
UAE Corporate Tax Updates: Establishing Global Credibility for Your Business in 2023 Read More »
Finance Monkey is a Finance-Managing company. Finance Monkey deals in a wide array of services. This includes providing you with a basic book-keeper to a Finance Manager who will help manage each and every penny that flows in or out of your business.
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