September 20, 2024 / Audit, Accounting & Finance, Tax
OPINION: Spotlight Series On External Financial Auditing In The UAE Why Your Audit Is Much More Than Just A Tick-Box Exercise
In the UAE, while the temptation to choose the lowest-priced auditor due to cost pressures is understandable, caution is advised. Audit firms that meet new regulatory standards, particularly related to ... Read more
July 25, 2024 / Audit, Accounting & Finance, Tax
OPINION: Spotlight Series on External Financial Auditing in the UAE: Financial Statements — What is the new legal requirements
The introduction of Corporate Tax in the UAE has heightened the requirements for businesses regarding accounting, administration, and financial reporting. What was once considered best practice is now basic compliance. ... Read more
October 3, 2023 / Tax
Corporate tax planning and role of financial accountants
Corporate tax planning is a strategic process through which companies minimize the tax liabilities utilizing various legal and ethical methods to manage their financial affairs. Tax planning helps companies to ... Read more
September 28, 2023 / Tax
UAE Corporate tax and implications on financial statements
It is a mandatory requirement for all the UAE registered companies to maintain proper books of account. Each jurisdiction emphasizes financial transparency and accountability through its financial reporting requirements, including ... Read more
September 26, 2023 / Tax
UAE Corporate Tax and External Audit
Over the past few years, the United Arab Emirates has emerged as a leading regional business hub, and it has attracted both local as well as global investors. There are ... Read more
June 6, 2023 / Tax
Preparing UAE Businesses for Corporate Tax: Insights from Rethink’s Senior Director – Finance and Tax
Rethink’s Senior Director – Finance and Tax, Neil Guthrie, appeared on the Dubai Eye 103.8 Business Breakfast and on Dubai 1 TV on Tuesday, 30th May to talk about how ... Read more
February 16, 2023 / Tax
Ministry of Finance confirms the threshold of AED 375,000
Businesses are subject to UAE Corporate Tax beginning from the financial year starting on or after 01st June 2023. As per Article 3 of UAE Corporate Tax Law, the Corporate ... Read more
December 29, 2022 / Tax
What does the new VAT update on Directors’ remuneration mean to you?
The Federal Tax Authority (FTA) recently published a Public Clarification VATP031 on the treatment of the services of a member of a Board of Directors (hereafter referred to as “Director”) ... Read more
December 12, 2022 / Tax
UAE Corporate Tax Update – Corporate Tax Law published by the FTA
On 31 January 2022, the UAE Ministry of Finance (MOF) announced the introduction of Federal Corporate Tax (CT) on business profits effective for financial years starting on or after 01 ... Read more
September 29, 2022 / Tax
UAE Corporate Tax – Impact on transactions with connected persons
On 31 January 2022, the UAE Ministry of Finance (MOF) announced the introduction of Federal Corporate Tax (CT) on business profits effective for financial years starting on or after 01 ... Read more