Auditing plays a crucial role of checking and verifying accounts of companies to ensure compliance with the accounting and financial reporting standards. The Audit Requirements in UAE differs depending on whether the company is operating in the mainland or in any free zone. This article will explain each and every aspect of audit requirements for … Read more
In the UAE, special provisions exist for the oil and gas industry, offering specific exemptions from corporate taxation, along with the criteria that must be met to qualify for such exemptions. This article details a thorough overview of the UAE Corporate Tax, particularly in relation to the oil and gas sector. Does corporate tax apply … Read more
Dubai is one of the growing business centers around the world. As a result, many companies are increasing their interest in doing business in Dubai. It may, therefore, be quite challenging to handle a business in Dubai because of handling human resources, making payrolls, and compliance, among others. This is where Professional Employer Organizations (PEO) … Read more
The Wage Protection System (WPS) is one of the most important steps adopted by the UAE Ministry of Human Resources and Emiratisation to ensure each employee working in the private sector receives full and timely remuneration. If you are an employer in Dubai, WPS account opening would be imperative to the requirements of any statute; … Read more
A tax group enables two or more entities to be constituted under one corporate framework for corporate tax purposes. This article discusses the criteria for the formation and existence of tax groups as per the UAE corporate tax. Salient Ownership Criteria (Article 2 and Article 40) Ownership Threshold For incorporation into a tax group, there … Read more
To encourage industry in the UAE, the Ministry of Industry and Advanced Technology (MoIAT) was founded in 2020. The organization of the Ministry of Industry and Advanced Technology now includes the 2001-founded Emirates Authority for Standardization and Metrology (ESMA). The Emirates Authority for Standardisation and Metrology (ESMA) must approve your items if you intend to … Read more