Accounting & VAT

UAE FTA VAT Audits — What Can You Expect?

Under the Cabinet Decision No. (36) of 2017 on the Executive Regulation of Federal Law No. (7) of 2017 on Tax Procedures and Federal Decree Law №18 of 2022 (Amended Decree Law) amending Federal Decree Law №8 of 2017 (Decree Law) effective from January 1st, 2023, VAT returns form a legally binding state…[Read more]

Outsourcing Accounting Services is Best for Your Business

If you’re a business owner living in Dubai, there are various choices to handle your accounting and financial requirements. Outsourcing Accounting Services are among the most well-known. Each strategy comes with distinct advantages and disadvantages. Therefore, it is essential to e…[Read more]

Discover the Benefits of Outsourcing Accounting in Dubai

As the economy in Dubai is expanding and growing, the business landscape in Dubai continues to evolve and grow with it, resulting in more and more companies opting for outsourcing to streamline their operations and stay ahead of the competition. One popular option in outsourcing is…[Read more]

Everything You Need to Know About Corporate Tax in UAE

Corporate tax is an essential aspect of running a business in the UAE. With its favorable tax laws and a favorable business environment, the UAE has become a hub for foreign investors

https://www.simplysolved.ae/uae-corporate-tax/

Steps And Requirements VAT Registration In UAE
Under the value-added tax (VAT) system implemented on January 1, 2018. UAE VAT registration is mandatory for businesses with annual revenue exceeding AED 375,000 ($102,000).
https://www.simplysolved.ae/vat-registration-tax-grouping-2/

In the United Arab Emirates (UAE), VAT is a consumption tax that is levied on most goods and services sold in the country. If your business is based in the UAE or you are planning to start a business in the UAE, you may need to register for VAT if your taxable supplies and imports exceed a certain…[Read more]

Federal Corporate Tax in UAE – Published Official CT Legislation

After the announcement by the government regarding the benefits of Corporate Tax in UAE (CT) and the frequently asked questions (FAQs) on January 31, 2022, as well as the publication of the Public Consultation Document in April 2022, the Federal Decree-Law no. 47 of 2022 r…[Read more]

UAE VAT Registration in 2022 – A Step-by-Step Guide

Since it was announced that UAE implemented VAT on Value Added Tax (VAT) 1 January 1st, 2018, business owners must follow the rules, which include UAE VAT Registration and tax filings.

Businesses operating in UAE should ensure that VAT is collected correctly and adequately accounted for so t…[Read more]

UAE Amendment of the UAE VAT Law

The Decree-Law No. 18-2022 regarding VAT was announced on the 28th of September 2022. It announced amendments to a few aspects in the UAE Federal Decree-Law no. 8 of 2017 on VAT (Value Added Tax). The changes will take effect on January 1, 2023.

In all, 24 articles were modified and one article regarding the…[Read more]

Auditing Tips from the Top Audit Firms in Dubai

Your business may be obliged to present audited financial accounts to external stakeholders. These can include Licensing Authorities or other external stakeholders. If you are new to the procedure, it can initially seem…[Read more]

VAT Registration For Businesses In The UAE – SimplySolved

As a UAE business or individual receiving commercial consideration, UAE VAT Registration is mandatory if your taxable supplies exceed AED375,000 in the next 30 days.

https://www.simplysolved.ae/vat-and-tax-blog/vat-registration-for-businesses-in-the-uae/

Benefits of Using a Certified Tax Agency in the UAE

To support the introduction of VAT Registration in the UAE, the FTA defined the role of Tax Agents to support businesses in fully complying with the Legislation. Businesses can appoint qualified parties as Tax Agents to represent them to advise and manage procedural requirements under Federal…[Read more]

UAE VAT Refunds – Improving Your Probability Of Success

During the course of submitting your UAE VAT Returns, your business may be in a VAT Refund position which enables you to claim a refund from the Federal Tax Authority.

UAE VAT Refunds are not automatically granted, The UAE Federal Law No. 7 of 2017 on Tax Procedures details the requirements…[Read more]

UAE FTA Tax Audit – What Should You Expect?

Your UAE VAT Returns form a legally binding statement of your UAE tax liabilities as a self-declared assessment, this means the preparation and accuracy are the responsibility of the taxable person.

As the UAE VAT system settles in the UAE, FTA Tax Audits are likely to increase. In this blog, we…[Read more]

Avoid These Accounting Platform Implementation Mistakes

Implementing an accounting platform implementation is the most effective way to simplify your accounting policies and procedures. A well-structured, functional system and planned implementation can streamline your processes with major improvements in reporting.

There are many areas to keep…[Read more]

WooCommerce Integration to An ERP – Why This Makes A Difference

For many companies seeking an online presence, WooCommerce Integration is an excellent option to embed online capabilities to your existing corporate website and get to market quickly. The use of templates and customisations enables every store to present its own user experience a…[Read more]

The Top 5 Issues Outsourcing Your Accounting Will Solve

Comprehensive financial reporting & financial management is essential for any business. As a small business, start-up, or entrepreneur, you may find challenges in managing your financial processes and reporting.

Poor internal controls and reporting quality is a major risks for any…[Read more]

UAE Labour Law: Non-Compete Provisions

Under the changes enacted in the New Labour Law in effect from 2nd February 2022, specific changes have been made to provisions governing non-compete restrictive covenants that protect employers’ business once an employee leaves the company.

These protections are designed to offer employers some rights t…[Read more]

Shopify Integration to An ERP – Why This Makes a Difference

For many companies seeking an online presence, Shopify provides an excellent option to create an attractive online and get to market quickly. The use of templates and minimal customisations enable every store to present its own user experience and branding. Underpinning is an ecosystem o…[Read more]

UAE Labour Law: Termination of Contract

Changes enacted in the New UAE Labour Law in effect from 2nd February 2022 are the greatest overhaul of the legislation in the last 40 years. The legislation marks an update to provide clarity to the full lifecycle of the employee and employer relationship to create a competitive labour market to attract…[Read more]