Blogs

VAT registration of ‘Sole Establishments’...

Declaration of Ultimate Beneficial Owner(UBO's) in the UAE Ultimate Beneficial Owner term is noticed in many Regulations. The beneficial Owner is nothing but the Natural Person ultimately holding the Legal Person. The reference to...

As per International Accounting standard (IAS 2), Inventories are Assets: Held for sale in the ordinary course of business, Eg: Merchandise purchased by the retailer. In the process of pr...

Policies Adopted for Women Entrepreneurs United Arab Emirates (UAE), the word itself is a magical word. The UAE is one of the most innovative country globally. The UAE stands in the...

 Individual sponsor and Corporate sponsor in the UAE Local sponsor is a common phrase used in the United Arab Emirates (UAE) for Mainland companies. A sponsor will be a UAE or GCC nation with 51% share of the Mainla...

Accounting for Assets Received Free of Cost or as Gifts as Per IFRS  Many have confusion, whether one needs to account for assets received free of cost? Some will also argue that as there is no money paid, why it...

System of UAE VAT In the VAT system, the tax shall be imposed on value addition made at each stage of the supply chain. The supplier shall collect the VAT from the customers on the value of supply made to them and can...

 Zero Rating of Export of Services The public clarification, Zero-rating of export of services provides the views of the Federal Tax Authority (FTA) on the cond...

UAE VAT Law Latest Amendment  Is the UAE VAT executive regulation amended? What are the changes made in the UAE VAT Law and how will that impact the transactions? These are some latest questions raised related to...

UAE Free Zones Benefits In the UAE Free Zones, Free Zone Company (FZC) is a limited liability entity and can be incorporated by natural persons or legal entities. A new limited liability company with a single sharehold...