Bookkeeping and accounting are essential for managing businesses. Though it can be a bit time-consuming and complex, it’s essential that your bookkeeping and accounting process is complete and error-free in all respects. Since the entire bookkeeping and accounting work involves digits, figures, and calculations, there’s always a scope for error. Therefore, outsourcing bookkeeping in the…
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In today’s globalized economy, businesses face increasing threats from financial crimes such as money laundering and terrorist financing. For companies vulnerable to money laundering, terrorist financing and proliferation financing in the United Arab Emirates (UAE), partnering with Anti-Money Laundering (AML) service providers is essential to bolster business security and ensure compliance with stringent regulatory standards.…
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The economic climate which takes into account the influence of money laundering as well as financing terrorism has increasingly tended to complicate areas of doing business. It becomes essential for organizations to carry out periodic evaluations of their institutions in terms of business risks relating to Anti-Money Laundering (AML) and Counter Financing of Terrorism (CFT).…
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The United Arab Emirates government Financial Intelligence Unit (FIU) has this eService Portal which is the GoAML system through which it allows the reporting entity to submit the reports to FIU. Let us now see the reason for registration in GoAML and subscription to the relevant sanction lists for compliance with anti-money laundering practices. What…
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Efficient financial management is essential for growth and sustainability. For companies operating in the UAE, outsourcing accounting services has emerged as a smart, cost-effective solution to streamline financial operations. If you are looking to improve your business’s financial performance, here’s why outsourcing your accounting needs to Auditac International can be a game-changer. Top 7 Benefits…
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The UAE’s Federal Tax Authority (FTA) recently rolled out new guidelines on the determination of taxable income, a crucial move for businesses operating within the region. As the UAE continues to refine its tax regulations, businesses must stay informed about these updates to ensure compliance and optimize their tax strategies. Key Takeaways From The FTA’s…
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In an effort to simplify the VAT refund process for UAE citizens constructing new homes, the Federal Tax Authority (FTA) has rolled out the second phase of the ‘Maskan’ application. This advanced digital platform is designed to streamline the process, making it more efficient and user-friendly. Here’s a guide on how UAE citizens can leverage…
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The UAE has long been a global financial center and a prominent business hub in the Middle East, offering multiple benefits to businesses and foreign investors. One of the biggest incentives included the ‘nil’ tax on profits earned in the country, with only a few exceptions. However, the introduction of a Federal Corporate Tax (CT…
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The UAE’s strong economy, growing population, and strategic location make it a magnet for investors and businesses alike. The real estate sector is a major economic driver among the different sectors and industries contributing to the country’s economy. Let’s find out all about the corporate tax in UAE on real estate, its applicability and exemptions.…
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Transfer pricing is one of the areas to consider for a company’s compliance strategies from a taxation perspective. However, this should be done ethically to avoid manipulating transfer pricing to save taxes. The transfer pricing for businesses in the UAE is critical and should be in compliance with requirements as per UAE Corporate Taxation regulations.…
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