A Guide on VAT on Construction Services in UAE A Guide on VAT on Construction Services in UAE The UAE has imposed a 5% Value Added Tax (VAT) on the majority of products and services since January 2018. VAT on construction services is crucial for the construction business, because projects are large, expensive, and can...
Cabinet Decision No. 100 of 2023 Cabinet Decision No. 100 of 2023: Clarification on Free Zone Entities’ Qualifying Income Determination In accordance with Federal Decree-Law No. 47 of 2022 on the Taxation of Corporations and Businesses (Corporate Tax Law), the UAE Cabinet has released Cabinet Decision No. 100 of 2023, which offers thorough guidance on...
UAE VAT Public Clarification (VATP038) Manpower vs. Visa Facilitation Services: UAE VAT Public Clarification (VATP038) On May 31, 2024, the Federal Tax Authority released the eagerly anticipated Public Clarification, which provided guidelines regarding the taxability of services related to labor supply and visa facilitation. The explanation offers guidelines regarding the differences between services for manpower...
A Comprehensive Overview to Several Audit Reports A Comprehensive Overview to Several Audit Reports An essential component of contemporary business is auditing. They provide a clear picture of a company’s operations, compliance with regulations, and the accuracy of its financial or operational records to stakeholders, regulators, and management. However, neither audits nor their reports are...
UAE Oil and Gas Companies’ Financial Reporting and Audit UAE Oil and Gas Companies’ Financial Reporting and Audit Maintaining financial integrity is crucial in the quickly evolving oil and gas industry. Our skilled auditors at IBR Group UAE offer specialized auditing services designed specifically for UAE businesses. We provide accurate financial reporting while adhering to...
Know About France and UAE Double Tax Treaty Know About France and UAE Double Tax Treaty One such deal is the France-UAE Double Tax Treaty, which was first signed on July 19, 1989, and revised in 1993. It lays forth precise guidelines for the taxation of several forms of income, including dividends, capital gains, salaries,...
What is Business Valuation & Why You Need It? Why You Need Business Valuation? Business valuation is the process of estimating a company’s economic worth by analyzing its financial performance, market position, and assets. It offers a precise, data-driven value estimate that is crucial for financial and strategic choices. A valuation is an essential tool...
Red Flags Auditors Look for in Your Financials Red Flags Auditors Look for in Your Financials If your records hide even one of these warning flags, an auditor will find it, and the review can slow license renewals, bank approvals, and year-end close. Use this list to discover errors early and keep your UAE audit...
Some UAE Cash Flow Mistakes and How to Fix Them Why cash flow is crucial to the survival of UAE businesses That adage is more applicable than ever in the rapidly evolving corporate environment of the United Arab Emirates. On paper, a lot of small and mid-sized businesses (SMEs) appear lucrative, but when funding runs...
Accounting Errors That Are Costing Company Money Typical Accounting Errors That Are Costing Your Company Money When operating a business, accounting errors are inevitable. It’s common for duties to be neglected when you’re busy managing your business. Your company’s operations may be impacted by improper account management. We asked our accountants to list the top...
