admin, Author at Ahmad Alagbari Chartered Accountant

09 Aug, 22

IDENTITY THEFT AND FRAUD AND HOW TO PREVENT THEM

Society’s growing reliance on technology to transfer private information has created more opportunities for identity thieves to access and misuse personal data. Cybercriminals are diversifying their targets and using stealthier methods to commit identity theft and fraud. There are three types of identity crimes we should know about: Lost or stolen personal information: when your information […]

04 Aug, 22

UAE CT REGIME: EXPECTED TRANSFER PRICING IMPACT, TP RULES, METHODS & DOCUMENTATION REQUIREMENTS

With the introduction of a corporate income tax. The UAE CT regime is expected to introduce TP rules and TP documentation requirements in line with the OECD TP Guidelines. What is Transfer Pricing? Transfer pricing refers to the prices of goods and services that are exchanged between companies under common control. For example, if a […]

02 Aug, 22

NEW DUBAI REAL ESTATE LAW TO BOOST PROPERTY INVESTMENTS

Property is a vital sector of Dubai’s economy that has been performing well. In June 2022, the Dubai real estate market recorded AED 22.7 billion sales – highest sales figures in the last 13 years – and reaching almost 71 percent of the total 2021 sales volume, according to Dubai Land Development (DLD) data revealed. […]

28 Jul, 22

GUIDE TO INVOICE DISCOUNTING

What is Invoice Discounting? Invoice Discounting refers to the form of the invoice financing where the businesses borrow the money in the form of a loan from the finance company by keeping the amounts due from customers as the collateral, i.e., accounts receivable from the customer is used as the collateral for the loan and […]

27 Jul, 22

WHY AND WHEN TO DO CHEQUE DISCOUNTING

WHY AND WHEN TO DO CHEQUE DISCOUNTING? Are your cheques drawn from reputable organizations? Do you need to boost your liquidity for sustained operations in your business? Cheque discounting solution enables you to access cash for your business requirements while you wait for your cheque(s) to clear. In today’s business environment, high liquidity is particularly […]

26 Jul, 22

UAE Bounced Cheques and Fines: You Need to Know in 2022

In the UAE, the cheque bounce is a very frequent problem faced by people during their span in the country. Bounced cheque issues may arise in a variety of commercial transactions, including but not limited to, companies’ exchanges, bank loans, property rents or purchases and individual transactions. When the cheque issued gets bounced/ returned, or […]

22 Jul, 22

AML – Third Party Money Laundering Risk

Organizations have long relied on partners, suppliers, agents, contractors and various other third-party services for competitive advantage, operational efficiency, and cost savings. However, this increasingly network of third-party relationships creates the potential for money laundering risk as well. Bad actors can use various methods to clean their money — and, unfortunately, many businesses unknowingly assist […]

20 Jul, 22

Dubai Metaverse Strategy. How to Navigate Metaverse Economy?

Dubai Metaverse Strategy. How to Navigate Metaverse Economy. The metaverse could contribute $3 trillion (€2.8 trillion) to the global GDP within a decade if it evolves in the same way mobile technology has in terms of adoption and would lead to a 2.8 per cent contribution to global GDP by 2031 according to new research […]

19 Jul, 22

AML-Difference Between Structuring and Smurfing?

What is the Difference Between Structuring and Smurfing? Financial crimes, come in a variety of shapes and sizes particularly smurfing and structuring are frequent in the financial service sector. They, depending on whether they are local or international. Smurfing and structuring are two of the most prevailing forms of financial crimes in banking and cross-border […]

05 Jul, 22

EXTP007-Excise Tax Public Clarification on deficient or missing goods within a Designated Zone and Excise Tax relief Process

EXTP007 -Excise Tax Public Clarification on deficient or missing goods within a Designated Zone and the process destruction of Excise Goods within a Designated Zone and requesting an Excise Tax relief EXECUTIVE SUMMARY On 21 June 2022, the United Arab Emirates (UAE) Federal Tax Authority (FTA) published a new Public Clarification EXTP007 (pdf) (Clarification) on […]

admin