Audit Requirements for Companies in DMCC Free Zones

Audit Requirements for Companies in DMCC Free Zones

AuditingWritten by SHABAN KUNCHERIANovember 13, 2024

Operating within the Dubai Multi Commodities Centre (DMCC) Free Zone offers numerous benefits, including a strategic location, business-friendly environment, and attractive incentives. However, companies in the DMCC Free Zone are subject to specific regulatory requirements, particularly concerning financial auditing. Ensuring compliance with these audit requirements is crucial for maintaining good standing with DMCC authorities and fostering trust with stakeholders. Know more

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IFRS 16 Leases

IFRS 16 Leases: A Comprehensive Overview

Accounting / Book KeepingWritten by SHABAN KUNCHERIANovember 13, 2024

IFRS 16 Leases: A Comprehensive Overview IFRS 16, issued by the International Accounting Standards Board (IASB), significantly changed the landscape of lease accounting, particularly for lessees. This standard mandates the recognition of most leases on the balance sheet, providing a more transparent view of a company’s financial position and performance. Key Changes Under IFRS 16 Journal Entries Under IFRS 16 Let’s

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Financial Reporting in Compliance with UAE Corporate Tax

Year End Financial Reporting in Compliance with UAE Corporate Tax

UAE Corporate TaxWritten by ProActNovember 12, 2024

In the fast-paced business landscape of the UAE, gearing up for the Year End Financial Reporting in Compliance with UAE Corporate Tax is crucial for companies aiming to comply with corporate tax laws. The Federal Tax Authority (FTA) in the UAE underlines the significance of accurate and timely financial reporting to sidestep penalties. Ensuring meticulous management of financial statements, including detailed

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e-Invoicing in the United Arab Emirates (UAE)

e-Invoicing in the United Arab Emirates (UAE)

UAE VATWritten by ProActNovember 11, 2024

Introduction In the realm of taxation and business transactions, the United Arab Emirates (UAE) is on the pathway to embracing a fully digitalized tax system through the implementation of e-invoicing under the “E-Billing System.” By July 2026, e-Invoicing in the UAE will be obligatory for B2B and Business-to-Government (B2G) transactions. This transition is part of a broader governmental initiative to streamline

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Permanent Establishment (PE) in UAE Corporate Tax

Permanent Establishment (PE) in UAE Corporate Tax

UAE Corporate TaxWritten by ProActNovember 8, 2024

With the introduction of the UAE Corporate Tax Law on June 1, 2023, the UAE solidified its position as a global business hub by aligning itself with international standards. A key component of this tax framework is the concept of Permanent Establishment (PE), which plays a critical role in determining whether a foreign company is liable for corporate tax in the

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expert accounting and bookkeeping services in the UAE

Expert Accounting and Bookkeeping Services in UAE – ProAct

Accounting / Book KeepingWritten by SHABAN KUNCHERIANovember 8, 2024

Elevate your business’s financial health with ProAct Chartered Accountants comprehensive accounting and bookkeeping services in the UAE. Whether you’re a small business or an established enterprise, we provide tailored solutions that ensure accurate financial reporting, strict compliance, and expert support to streamline your operations. Let us help you optimize your financial processes and watch your business thrive. Why Accounting and Bookkeeping

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UAE Corporate Tax Law - Tax Groups

Tax Groups in the UAE’s Corporate Tax Law (2024 Update)

UAE Corporate TaxWritten by ProActJune 10, 2024

The introduction of corporate tax in the United Arab Emirates (UAE) in June 2023 has brought both opportunities and complexities for businesses operating in the region. While the 9% tax rate remains attractive, navigating the intricacies of group structures can be a challenge. This blog post dives deep into the concept of Tax Groups within the UAE’s Corporate Tax Law (CTL),

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ProAct Best VAT and Corporate Tax Consultancy in Umm Al Qwain

ProAct: Best VAT and Corporate Tax Consultancy in Umm Al Qwain

ProActWritten by SHABAN KUNCHERIAJune 9, 2024

Unveiling the intricacies of Value Added Tax (VAT) and Corporate Tax in Umm Al Qwain can be a daunting task for businesses of all sizes. With ever-changing regulations and specific emirate-based requirements, navigating compliance necessitates a skilled and experienced partner by your side. ProAct Chartered Accountants steps forward as your one-stop solution – we are the premier VAT and Corporate Tax

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ProAct: Best VAT and Corporate Tax Consultancy in Fujairah.

ProAct: Best VAT and Corporate Tax Consultancy in Fujairah.

ProActWritten by SHABAN KUNCHERIAJune 9, 2024

Navigating the ever-evolving world of Value Added Tax (VAT) and Corporate Tax in Fujairah can be a complex challenge for businesses of all sizes. With intricate regulations and ongoing updates, ensuring compliance necessitates a skilled and experienced partner by your side. ProAct Chartered Accountants steps forward as your one-stop solution – we are the premier VAT and Corporate Tax Consultancy firm

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Best VAT and Corporate Tax Consultancy in Ras Al Khaimah

ProAct: VAT and Corporate Tax Consultancy in Ras Al Khaimah

ProActWritten by SHABAN KUNCHERIAJune 9, 2024

Navigating the ever-changing landscape of Value Added Tax (VAT) and Corporate Tax in Ras Al Khaimah can be a daunting task for businesses of all sizes. With intricate regulations and specific emirate-based requirements, ensuring compliance necessitates a skilled and experienced partner by your side. ProAct Chartered Accountants steps forward as your one-stop solution – we are the premier VAT and Corporate

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