2022 - Page 5 of 5 - Ahmad Alagbari Chartered Accountant

04 Apr 22

UAE AML Compliance- Standard Declaration Form Submission Required by banks for- “Real Estate Agents and Dealers in precious metals and stones”

Real Estate Agents and Dealers in precious metals and stones are required to submit Standard Declaration Form from several banks in the UAE to ensure that the DNFBPS has effective AML policy and procedures in place to comply with Federal Decree–Law No. (20) of 2018 on Anti-Money Laundering and Combating…

31 Mar 22

ARE YOU KYC AND AML COMPLIANT?

ARE YOU KYC AND AML COMPLIANT? The need for KYC and AML compliance has become mandatory to comply with the global and local regulations. Understanding AML vs. KYC can help you understand the difference between the two terms and implement these processes to ensure compliance. The ones who fail to…

26 Mar 22

CORPORATE TAX IN UAE- GUIDE EXEMPT INCOME , TAXABLE INCOME AND ITS CALCULATION

CORPORATE TAX IN THE UAE The Ministry of Finance (MoF) defines corporate tax as a type of direct tax levied on the net profit of corporations or other entities from their business. A competitive corporate tax regime based on international best practices is likely to consolidate the UAE’s position as…

25 Mar 22

CT IN UAE- TREATMENT OF TAX GROUPS, CARRIED FORWARD LOSSES, TRANSFER PRICING, AND WITHHOLDING TAXES

The UAE CT regime will become effective for fiscal years starting on or after 1 June 2023 and is expected to be a federal level corporate taxation. Thus, all UAE businesses, corporations and entities engaged in and licensed to undertaken commercial activities shall be subject to the UAE CT. Businesses…

24 Mar 22

CT IN UAE- TREATMENT OF FREE ZONE COMPANIES, INTERNATIONAL ASPECTS, FREELANCERS AND OIL AND GAS INDUSTRIES

The 9% CT rate, which is one of the lowest CT rates globally, was most likely selected to maintain the UAE’s attractiveness for foreign investment. The CIT regime has been implemented by the UAE in view of achieving the following objectives: Cementing the UAE’s position as a world-leading hub for…

23 Mar 22

How to Prevent Money Laundering

The UAE had implemented Anti Money Laundering/Countering the Financing of Terrorism measures as per the Financial Action Task Force (FATF) standards and is taking correct and strict measures that all businesses comply with the local as well as international guidelines for operating genuine businesses. In September 2018, UAE introduced Federal…

22 Mar 22

Have you appointed your Money Laundering Reporting Officer (MLRO) ?

Money Laundering Reporting Officer (MLRO) or Anti-Money Laundering Officer (AMLO) is a Compliance professional who oversees the firm’s anti-money laundering/countering the financing of terrorism framework. Who is a Money Laundering Reporting Officer (MLRO) In order to oversee internal anti-money laundering policies and remain compliant with important regulations, all regulated entities…

22 Mar 22

UAE- SUBMISSION OF VAT REFUND APPLICATION FOR FOREIGN BUSINESSES STARTS FROM MARCH 1st, 2022

UAE – As from 1 March 2022, FTA (Federal tax authority) will open VAT Refund application window for foreign businesses under the” Foreign Business Refund Scheme”to submit their value added tax (VAT) refund requests for the 2021 calendar year. The refund requests must be submitted by 31 August 2022. Non-UAE…

21 Mar 22

Inventory Control

Inventory Control in Dubai In the bustling commercial landscape of Dubai, effective inventory control is crucial for businesses of all sizes. This process involves tracking and managing stock levels, ensuring that products are available without overstocking. Efficient inventory control helps minimize costs and optimizes cash flow. By using advanced systems…

20 Mar 22

Cycle Count in Inventory Management

Cycle Count in Inventory Management Cycle counting is a critical practice in inventory management. It involves regularly counting a portion of the inventory, rather than conducting a full inventory count all at once. This method allows businesses to maintain accurate inventory records and catch discrepancies early. By dividing inventory into…

Year: 2022

UAE AML Compliance- Standard Declaration Form Submission Required by banks for- “Real Estate Agents and Dealers in precious metals and stones”

ARE YOU KYC AND AML COMPLIANT?

CORPORATE TAX IN UAE- GUIDE EXEMPT INCOME , TAXABLE INCOME AND ITS CALCULATION

CT IN UAE- TREATMENT OF TAX GROUPS, CARRIED FORWARD LOSSES, TRANSFER PRICING, AND WITHHOLDING TAXES

CT IN UAE- TREATMENT OF FREE ZONE COMPANIES, INTERNATIONAL ASPECTS, FREELANCERS AND OIL AND GAS INDUSTRIES

How to Prevent Money Laundering

Have you appointed your Money Laundering Reporting Officer (MLRO) ?

UAE- SUBMISSION OF VAT REFUND APPLICATION FOR FOREIGN BUSINESSES STARTS FROM MARCH 1st, 2022

Inventory Control

Cycle Count in Inventory Management

Corporate Tax Consultants in Dubai for Annual Tax Prep

Business Consulting Firms in Dubai for Cost Control Planning

Audit Firms in Dubai and the Role of Internal Controls Today

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