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 […]

Tax Accounting: The New Frontier of Financial & Management Accounting

In the ever-changing world of accounting, tax accounting has emerged as a new frontier that demands attention from financial and management accountants. With complex tax regulations and increased scrutiny from tax authorities, understanding and effectively managing tax obligations has become crucial for businesses. In this blog, we will explore the significance of tax accounting as […]