Latest Business Setup Insights in Dubai
You can explore the articles written by our team of experts to gain valuable insights and stay updated on the latest trends and strategies essential for business setup in Dubai and across the UAE.
Difference Between Accrual and Cash Basis Accounting – Which is Right for You?
Accrual accounting and cash basis accounting are two different methods for tracking money in a business. One of the first choices a company has to make is choosing the proper accounting method. Companies use Accrual and cash basis to record . . .
What Is Double Taxation Avoidance Agreement (DTAA)? Benefits & Examples
So, what’s a Double Taxation Avoidance Agreement (DTAA)? DTAAs are deals between countries that aim to make sure that individuals and companies do not have to pay tax twice on the same income. Imagine you’re in Dubai, but your paycheck’s . . .
Bookkeeping and Accounting: What Every Business Owner Should Know
Understanding the difference between bookkeeping and accounting is essential for businesses to manage their finances effectively. In financial terminology, bookkeeping and accounting are considered almost the same, but they play very different roles in your industry. Bookkeeping means keeping track . . .
Dubai Tax Residency Certificate: Your Key to Global Tax Benefits
An individual is required to provide a tax residency certificate Dubai (TRC), to benefit from the Double Tax Avoidance Agreement (DTAA) on income earned in the country. A TRC proves that the person is a resident of another country and . . .
Beyond Compliance: How Internal Audits Drive Business Growth?
Internal audit plays an important role in adding value to the business. It adds value by strengthening internal controls, overall performance improvement and supporting better decision making. Internal auditors provide insights into business processes that will help uncover areas of . . .
A Complete Guide to Company Liquidation in Dubai
Company liquidation Dubai is a process that includes closing a business by selling off its assets, canceling all licenses and visas, settling debts, deregistering with relevant authorities, and dissolving the company. If you own a company in the UAE, you . . .
Understanding UAE Gold VAT: What You Need to Know
UAE Gold VAT is standard at 5% under the reverse charge mechanism; however, certain types of gold, such as investment-grade gold with a purity of 99% or higher, may be exempt under specific conditions. The rule was presented in Cabinet . . .
Is Crowdfunding Legal in Dubai? Rules, Platforms & Insights
Crowdfunding in Dubai is the process of funding a project by collecting donations from a large group of people through authorized online platforms. Crowdfunding generally involves three parties, the person raising funds, the online platform provider, the people providing the . . .
Why the Tax Clearance Certificate Matters in UAE? – Process, Documents & Tips
As a company finalizes its operations, it should obtain a tax clearance certificate in the UAE for asset transfers and refunds. A tax clearance certificate (TCC) indicates that a tax-registered business has settled all its outstanding tax debts. During the . . .
