VAT classification for Schools & Nurseries

VAT classification for Schools & Nurseries

Do you run a school or nursery, or in the accounts department of the same? Are you aware of the different VAT classification for Schools & Nurseries in the UAE? The education industry is one of the industries which has all the 3 types VAT – Standard Rated ( 5% ), Zero Rated ( 0%) […]

Explained: UAE VAT Rules for Education Sector

UAE VAT Rules for Education

UAE VAT rules for education sector has always been a confusing topic. That stops now. We are here to solve some of the common confusions with the VAT treatment in the education industry of the UAE. Over our years filing VAT for our clients, we have often had to field questions from clients. This guide […]

100% FDI in Dubai, Sharjah & Ajman: New List of Activities Announced

FDI in Dubai

We have already discussed the new FDI law in our earlier posts. However, Dubai, Sharjah & Ajman have now brought up a major update, by increasing the number of activities that are allowable in the 100% foreign ownership options. Dubai, Sharjah & Ajman Department of Economic Development has made 100% Foreign Direct Investment available to […]

Ultimate Beneficial Ownership (UBO) Submissions for Mainland Companies

Ultimate Beneficial Ownership

We have already updated you on how you can determine your UBO. Now however, UAE ministry of economy has requested all companies (Freezones & Mainland)in the UAE to submit real beneficiary details to the respective regulatory authorities. https://www.youtube.com/watch?v=ynd33Ivs_os&list=PLG2rYg8L_bcpcO7qTbJDsWk6VLk81Pr-1 Deadline – 30 June 2021 If UBO submissions are not done, penalty’s will come into effect on […]

UAE Tax Invoice Format: Difference between a Simplified & Full Tax Invoice

UAE Tax Invoice Format

Understanding the correct UAE VAT Invoice format can make or break your business. Please read this, if you have been in one of the following situations: Not sure if the invoice you raise to your client has all the details required to make it a legal document? Trying to claim VAT on an invoice sent […]

Launch Date for 100% FDI in UAE Announced

100% FDI in UAE

100% FDI in UAE has been trending for a few months. Here was the first update on the policy.  Today,  we an update from the Ministry of Economy on the state of 100% FDI in UAE. As per this new law, it will allow for foreign investors to set up a business in the UAE […]

Revealed: How to Generate a VAT Group Registration in UAE

VAT Group Registration in UAE

Steps to generate a VAT Group Registration in UAE explained below. We have already spoken about how you can register a company for VAT. However, what if you have multiple licenses that you own, and want all of them to come under one Tax group? Before we can get to the regulations, here’s a quick […]

Revealed: VAT Regulations for E-Commerce Businesses in UAE

UAE VAT Regulations for E-Commerce

VAT Regulations for E-Commerce Businesses curated on April 22, 2021. Before we can get to the regulations, if you’re an online business/service or an e-commerce business in uae, here’s a quick brush up on some basics: What is VAT? : VAT is an indirect form of tax. This is a tax that is not a […]

How to Select an Auditor or Audit Firm in UAE

Audit Firm in UAE

It’s not about what comes up as a ‘Top Audit firm in UAE’… For SMEs or startup companies looking for a good auditor for their business might be harder than it seems. Making the right choice from the Google Results of Top Auditors in UAE is very important, click here to see how useful it […]

7 Compelling Reasons Your Startup Needs an Audit

Audit

If you’re a start-up or small or growing businesss, you would better know what an audit is or why your company needs one. Over the past three decades, as auditors for clients from SMEs and big corporations, we consistently find a lack of knowledge on what the auditor (us) actually does for a business. There […]