On 31 January 2022 the UAE Ministry of Finance announced the introduction of a Federal Corporate Tax in the UAE that will be effective for financial years starting on or after 1 June 2023. The UAE Corporative Tax rule...
Continue Reading
E-commerce has been sustained as one of the favorable turnouts from advancement in technology all over the world. Apparently, the comfort and convenience offered by many vibrant virtual markets have highly changed the expectations and choices of the customers....
Accounting is the process of recording, summarizing and analyzing economic transactions.The main objectives of accounting are to specify the results of the financial transactions of a business concern.• Identification and recording of transactions • Ascertainment of results • Ascertainments...
A penalty of AED 100,000 will be payable by an entity in the following cases When an entity fails to take required measures for determining risks of crime in its field of work,• When the entity fails in the...
A penalty of AED 50,000 will be payable by an entity in the following cases• Entity failure to take up reasonable measures to detect risk as per the national risk assessment• When an entity fails to set up the...
A penalty of AED 200,000 will be payable by an entity in the following cases • When an entity fails to take up required due diligence measures for the management of high risks• When an entity fails to provide...
The Ministry of Economy of UAE has announced such a list intending to overcome the above stated issues. The violations are related to the DNFBP (Designed nonfinancial businesses and professions) which the ministry supervises. A penalty of AED 1...
United Arab Emirates is considered as an international hub for all commercial activities and being such an international hub the risk for financial frauds and wrong activities such as money laundering and terror financing is also at its peak....
• State-of-the-art ProfessionalsLet’s consider the scenario where you are hiring a number of professionals for your new finance team. The problem is that you will have to pay a lot of money to get some of the best professionals...
• TransparencyThis benefit is applicable if you are getting the services from a reputed accounting service provider from your region. Once hired, you won’t have to worry about the issues of transparency. Outsourcing services do make sure that you...