News
Do you want to know the latest financial update and regulations by the federal tax authority and government? Do you want to stay up-to-date with the financial accounting world? We offer the latest scoop on all major activities of the financial world. From major reforms to new rules and regulations, our blog is a one-stop hub for all your accounting news.
Due Diligence Regulations for Responsible Sourcing of Gold
On Thursday, 21st July 2022, the UAE’s Ministry of Economy announced a new policy regarding the responsible sourcing of gold for importers. Refiners and violators could face a penalty of up to Dh5 million.
A new AML reporting circular for the Real Estate business
On Thursday, 21st July 2022, the UAE’s Ministry of Economy announced a new policy regarding the responsible sourcing of gold for importers. Refiners and violators could face a penalty of up to Dh5 million.
UAE’s new laws on gold imports
On Thursday, 21st July 2022, the UAE’s Ministry of Economy announced a new policy regarding the responsible sourcing of gold for importers. Refiners and violators could face a penalty of up to Dh5 million.
New UAE Companies Law 2022
A new Companies Law Federal Decree-Law Number 32 of 2021 on Commercial Companies (the New Law), which amends and replaces the Federal Law Number 2 of 2015 on Commercial Companies (the Old Law), became effective on 2 January 2022. The New Law mandated that all the companies make their memorandum of association in line with
UAE ESR Filing Deadlines: Economic Substance Reporting Guide
Learn the UAE Economic Substance Regulations (ESR) filing deadlines, including notification and reporting timelines required by the Ministry of Finance.
Economic Substance Regulations (ESR) in the UAE update
ESR Report Template Released The Ministry of Finance (MoF) has just released the format of the ESR report required for the reporting of the economic substance regulations in the UAE in accordance with Cabinet Resolution No. 57 of 2020 (“Amended Regulations”), along with updated Guidance clarifying the amended ESR through Ministerial Decision 100 of 2020
UAE VAT E-Commerce Guide: Rules for Goods & Digital Services
Learn how UAE VAT applies to e-commerce, including VAT on online goods, electronic services, digital marketplaces, imports, and supplier obligations.
UAE VAT Input Tax Recovery Time Limits Explained
Understand the UAE VAT input tax recovery timeframe, including FTA rules, six-month payment requirement, claim periods, and voluntary disclosure procedures.
Zero Rating of export of services
FTA’s latest VAT Public Clarification on Zero-rating of export of services is an answer for a widespread misconception on the Zero-rating VAT treatment on services being classified as “export” by the taxpayer. Under this clarification, the FTA clarifies once again what we have emphasized in our latest Webinar on the place of supply role in
UAE’s Vat Executive Regulations Updated
The Executive Regulation of the Federal Decree-Law No. 8 of 2017 on Value Added Tax, that was issued by the Cabinet Decision No. 52 of 2017 – on 26 November 2017, has been updated through the Cabinet Decision No. 46 of 2020 – dated 4 June 2020. The primary and essential change is related to
(ESR) notification
The UAE Ministry of Finance (“MoF”) has provided an update under its FAQ section on clarifications of the requirements to file a Notification to Relevant Authorities under the UAE Economic Substance Regulations (“ESR”) by 30 June 2020. These clarifications confirm that businesses with fiscal years ended after 31 December 2019 are not required to file