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 […]
Individuals in Business: The Focus of Tax Authorities in UAE
In recent years, the tax landscape in the United Arab Emirates (UAE) has undergone significant changes, with tax authorities placing increased scrutiny on individuals who are engaged in business activities. This shift in focus has brought about new challenges and obligations for individuals operating in the business sector. In this blog, we will explore why […]