It is no secret that millions of people are anticipating the upcoming EXPO 2020 in the Middle East. This is the most diverse and inclusive Expo to be organized welcoming all countries in the world. According to Vicente G. Loscertales, secretary-general of the BIE (Bureau International des Expositions), by inviting all countries of the world […]
Bringing VAT to the Emirates has not only stirred up many companies but also resulted to many organizations crossing government regulations and VAT laws in the UAE. Aside from not having to deal with it for so many years, there are a lot of details and basic do’s and don’ts of VAT are not followed. […]
VAT De-registration is a process where in the registered firm applies for cancellation of its registration. VAT De-registration is required when any taxable business no more exists or no more requires registration. De-registration of VAT means de-activation of the registration and the VAT number of the firm. Whenever a business stops trading or no longer […]
The Federal Tax Authority (FTA) has conducted several initiatives to help businesses in the UAE adapt to the implemented VAT. With VAT being in effect in the UAE for more a year and a half now, many businesses were able to successfully incorporate a system. However, it is inevitable for some, especially new entities, to […]
After a year of implementation, many companies in the UAE have smoothly adjusted to the existence of tax along the running of businesses. However, many are still adjusting and adapting the new system in their businesses and the need for proper tax accounting in the UAE – commonly for new entities. VAT is not a […]
Although ‘sales’, ‘revenue’, and ‘income’ are highly related terms, they have different meanings. These are to be carefully noted to strike a balance of your business’ needs as you do the business strategic planning. Here are strategies for businesses who aim to increase their ‘Sales and Revenue’. DIVERSIFY OFFERINGS If you’re not a new company, […]
There is no doubt that the freelance economy in the UAE has risen in the past year and it is very apparent that it will continue to rise in the coming years.. “The growth of freelance workforce is three times the growth of the traditional workforce” says Stephane Kasriel, CEO of Upwork, a globally-known freelance […]
