Top 4 Anti-Money Laundering (AML) Trends in 2022

As the technology continues to offer endless possibilities, it is likely that the financial criminals will discover new methods to...

Top Technology Trend in 2022

In todayโ€™s fast-paced life, technology has taken the rein of the world and emerged rapidly. The rate at which technology...

What You Need to Know About UAE Virtual Assets Law?

On 28 February 2022, the Ruler of Dubai issued Law No.4 of 2022 on the Regulation of Virtual Assets (the...

Administration of Corporate Tax- Under UAE Corporate Tax Law Consultation Document

๐€๐ƒ๐Œ๐ˆ๐๐ˆ๐’๐“๐‘๐€๐“๐ˆ๐Ž๐ ๐Ž๐… ๐‚๐Ž๐‘๐๐Ž๐‘๐€๐“๐„ ๐“๐€๐— |ย  ๐”๐€๐„ย  ๐‚๐Ž๐‘๐๐Ž๐‘๐€๐“๐„ ๐“๐€๐— ๐‹๐€๐– |ย  ๐‚๐Ž๐๐’๐”๐‹๐“๐€๐“๐ˆ๐Ž๐ ๐ƒ๐Ž๐‚๐”๐Œ๐„๐๐“On 31 January 2022, the UAE Ministry of Finance...

Tax Group Key Features- Under UAE Corporate Tax Law Consultation Document

๐“๐€๐— ๐†๐‘๐Ž๐”๐ ๐Š๐„๐˜ ๐…๐„๐€๐“๐”๐‘๐„๐’ ๐”๐€๐„  ๐‚๐Ž๐‘๐๐Ž๐‘๐€๐“๐„ ๐“๐€๐— ๐‹๐€๐– ๐‚๐Ž๐๐’๐”๐‹๐“๐€๐“๐ˆ๐Ž๐ ๐ƒ๐Ž๐‚๐”๐Œ๐„๐๐“ On 31 January 2022, the UAE Ministry of Finance announced...

Calculation of Taxable Income and Exemption under UAE Corporate Tax Law Consultation Document

๐”๐€๐„  ๐‚๐Ž๐‘๐๐Ž๐‘๐€๐“๐„ ๐“๐€๐— ๐‹๐€๐– ๐‚๐Ž๐๐’๐”๐‹๐“๐€๐“๐ˆ๐Ž๐ ๐ƒ๐Ž๐‚๐”๐Œ๐„๐๐“ ๐Š๐„๐˜ ๐…๐„๐€๐“๐”๐‘๐„๐’ Calculation of Taxable Income Exemptions On 31 January 2022, the UAE Ministry...

PROPOSED UAE CORPORATE TAX LAW FREE ZONE COMPANIES

๐”๐€๐„  ๐‚๐Ž๐‘๐๐Ž๐‘๐€๐“๐„ ๐“๐€๐— ๐‹๐€๐–๐…๐‘๐„๐„ ๐™๐Ž๐๐„ ๐‚๐Ž๐Œ๐๐€๐๐ˆ๐„๐’๐‚๐Ž๐๐’๐”๐‹๐“๐€๐“๐ˆ๐Ž๐ ๐ƒ๐Ž๐‚๐”๐Œ๐„๐๐“ UAE Ministry of Finance has released a public consultation document on UAE Corporate...

Tourist VAT Refund Scheme- Guide for UAE Retailers

VAT refund scheme in UAE makes it possible for eligible tourists to receive a portion of  VAT as a refund for...

UAE TAX FREE SHOPPING-HOW TOURIST CAN CLAIM VAT REFUND

WHAT IS TAX FREE SHOPPING? Tax Free shopping is the purchasing of certain taxable goods in the UAE which will...

VAT Refund for Foreign Businesses IN UAE

Foreign businesses / business visitors should check if they are eligible to make a claim for fund of VAT paid...

WHY AND HOW TO DO BUSINESS VALUATION

โ€œValuing a business is part art and part science.โ€โ€” Warren Buffettย  WHY YOU NEED A BUSINESS VALUATION Understand Potential for...

THE GAME OF CHESS AND BUSINESS

Game of chess is a Mind Game and you have a picture of how the whole game will play out.ย Chess...

HOW TO LIQUIDATE COMPANY IN THE UAE

HOW TO LIQUIDATE COMPANY IN THE UAE The legal procedure by which the corporate life of a company is brought...

ANTI-MONEY LAUNDERING- BATTLEFIELD FOR ACCOUNTANTS

Money laundering helps illicit organizations by lowering their cost of capital, giving them a competitive advantage over legitimate businesses. When...

WHAT DO AUDITORS NEED TO KNOW TO COMBAT MONEY LAUNDERING?

Generally, businesses are most useful to money launderers as conduits for tainted funds. Since money launderers usually donโ€™t expropriate assets,...

Precious Metals and Stone Beautiful but Dangerous -Dealers need AML/CTF Compliance Program

Precious metals and stones have been forged into jewelry, artefacts, and currency since the dawn of civilization. The modern trade...

Real Estate Red Flags/ How Do Criminals Launder Through Real Estate?

Money laundering involves filtering income from illegal activities through legitimate transactions, disguising its source and preventing detection by the authorities....

UAE AML Compliance- Standard Declaration Form Submission Required by banks for- โ€œReal Estate Agents and Dealers in precious metals and stonesโ€

Real Estate Agents and Dealers in precious metals and stones are required to submit Standard Declaration Form from several banks...

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...

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...

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...

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...

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)...

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 firmโ€™s anti-money laundering/countering...

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

UAE โ€“ As from 1 March 2022, FTA (Federal tax authority) will open VAT Refund application window for foreign businesses...

Cycle Count vs Physical Inventory Count

Cycle Count VS Physical Inventory Count Cycle Counting Cycle counting inventory is a form of perpetual inventory management. It counts...

Inventory Control

Why Count Your Inventory?ย  Asset Tracking and Valuation Managing Stock Levels Anticipating Demand Shrinkage, Theft, & Loss Control Accounting Location...