Blogs

Company Formation in Abu Dhabi Mainland Business set up in Abu Dhabi is progressed through the Department of Economic Development, with a recognized approach from the Abu Dhabi Chamber of Commerce & Industry. It is a legal body whi...

UAE Federal Court Verdict on Voluntary Disclosure Form Penalties Federal Court Verdict: October of 2020 was rather a significant month for the tax registrants of the country as FTA rolled out multiple clarifications an...

Income Tax in GCC Income Tax in GCC: The Oman Ministry of Finance, in its recent Medium-Term Fiscal Plan of 2020-2024 revealed its plan to introduce Income tax on high net worth individuals from 2022.  Income Tax in GCC...

Latest Update on Tax Domicile Certificate or Tax Residency Certificate in the UAE Tax Residency Certificate in UAE (‘TRC’) also known as Tax Domicile Certificate is an official document issued by the Government Authorities...

Beneficial Owner Procedures - Cabinet Decision No. 58 of 2020  Beneficial Owner Procedures Regulation has been introduced in UAE vide Cabinet Decision No. 58 of 2020, on 24 August 2020. Beneficial Owner Procedures Regulation came...

DMCC Approved Auditors– United Auditing a Division of Emirates CA Group United Auditing Division of Emirates Chartered Accountants Group is the Approved Auditors in DMCC. United Auditing is one of the top listed...

VAT Free Sale in the UAE is often visible as Special Discount or No VAT etc. What will be the tax impact on VAT Free sale promotions? Or is it correct to conduct such promotions offering VAT Free or without VAT?...

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...