Backlog Accounting – A Vital Practice for Business Success in the UAE
Understanding Backlog Accounting Definition and Scope: At its core, backlog accounting refers to the methodical process of reconciling and documenting financial transactions that have accumulated over a certain period but have not been processed in real-time. This encompasses a variety of financial entries such as invoices, expenses, and other monetary transactions that were delayed for […]
Free Zones of UAE and UAE Corporate TAX
Understanding the Distribution of Goods taxability Qualifying Activities generate Qualifying Income, Qualifying Income makes a Free Zone Person as a Qualifying Free Zone Person and then only automatic eligible for 0% Corporate Tax Rate, whether the transaction is with another Free Zone entity or Non-Free Zone entity. One of the 13 Qualifying Activities is: Distribution […]
Permanent Establishment: Look Within for Tax Compliance
In today’s globalized business landscape, companies are expanding their operations across borders, reaching new markets and customers. However, this expansion also brings new challenges in terms of tax compliance, particularly related to the concept of Permanent Establishment (PE). In this blog, we will delve into the significance of understanding PE and the importance of ensuring […]