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Top 10 Corporate Tax Consultants in UAE

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  The Ministry of Finance has released guidelines to assist companies in registering for corporate tax and obtaining relevant information, about the implementation of Corporate tax in UAE. It is of prime importance to find the top corporate tax consultants in UAE who can help you to navigate the complex tax landscape effectively and to get proper tax consulting advice and services. The leading corporate tax consultants in UAE are outlined below: 1. Accruon Consultant LLC  is a prominent tax consultants in UAE, specializing in providing comprehensive tax services to businesses and individuals. With a team of highly skilled tax professionals, Accruon Consultant LLC offers a wide range of tax advisory and compliance services to meet the unique needs of the clients. The services offered cover areas such as VAT-related services, corporate tax, accounting and bookkeeping, auditing and assurance, acquisition and mergers, and so on. Founded by experienced professionals in the field, Accruon C
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Unleash Business Opportunities in UAE Free Zones

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  Are you planning to set up a company/business in the free zone area in UAE? Do you need to know the tax exemptions and benefits of forming a company in a free zone in the UAE? We are here to provide you with the answer A free zone, alternatively referred to as a free trade zone or a free zone authority, is an economic region subject to distinct regulations that exclusively pertain to businesses operating within its boundaries. They are ruled by their specific regulations that do not apply to businesses outside the zone. It also facilitates reduced tax and customs rates for trading goods and services. One of the initiatives the government took to diversify the economy and attract more foreign investors to the UAE was establishing free trade zones. The Jebel Ali Free Zone, founded in 1985, was the first in UAE, and today, there are more than 40 free zones situated in various regions, each tailored to specific industries and providing specialized assistance. There are 28 Free Zones in D
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Location: United Arab Emirates
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Decoding UAE Corporate Tax Law on “Natural Person”

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  Are you confused with the term “Natural Person”? Do you belong to this category? Does UAE Corporate tax apply to you? Don’t worry, this blog will take you through the answers to these questions. Corporate tax in Dubai is a direct tax that is levied on the net income or profit that businesses and other entities make from their operations.“ Corporate tax” is also referred to as “business profits tax” or “corporate income tax”, in some countries. It is implemented in order to enhance the nation’s standing as a significant hub for commerce and investment, to accelerate the transformation and developmental programmes to achieve strategic goals, and also to address global standards for tax transparency. “Natural Person” refers to an individual, whether they reside in or outside of UAE distinguished from legal entities such as corporations. This includes individuals engaged in personal business endeavours such as freelancers, entrepreneurs, solo establishments, etc. Here, a solo establish
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Location: United Arab Emirates
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VAT REFUND SERVICES

   VAT compliance is regarded in the United Arab Emirates as a variety of distinct operations in a taxable firm. Included in this are VAT registration and deregistration,  VAT returns , voluntary VAT disclosures, VAT refunds, as well as numerous other actions. During a specific tax period, a registered firm must pay and collect tax on sales and transactions. The business can request a VAT refund when its input VAT is more than its output VAT. What is a VAT refund?  In the UAE,  VAT refund s are given when, during the period for filing VAT returns, the input tax is lower than the output tax. All registered enterprises are eligible for a reimbursement of the excess tax. Input tax is the sum paid to the supplier on purchases, whereas output tax is the sum levied on sales. The taxable person must request a refund of the VAT from the appropriate authorities in such cases. Purpose of the VAT refund  On February 1st, 2018, the FTA implemented a system of VAT refunds in the UAE to stabilize th
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Six accounting recommendations for small companies to start the new year

  Operating a small business   in a cutthroat industry like Dubai is no easy task. There may be numerous ups and downs, similar to those on a roller coaster, and you may require wise counsel from accounting firms in Dubai to maintain your business. The start of a new year is a good opportunity to evaluate your plans and set your goals for the year. In 2023, it will be crucial for small business owners to have a solid business plan, understand their finances, maintain compliance with regulations, and recognise their successes along the way. Without the aid of a freelancer, they might, however, have trouble putting their plans into action. You can implement your strategies and goals for 2023 with the aid of accounting firms in Dubai. Here are our top six suggestions for starting the New Year off well for small businesses: 1. Specify what success means to you. If you want to reach your objectives, you must first determine what you want to achieve in terms of revenue and ultimate profitabi
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What is meant by the VAT health check and its importance in UAE?

  organizations in the UAE that have registered for VAT must make sure that it complies with all of the FTA’s VAT regulations. The FTA has the authority to audit businesses on a regular basis to look into their tax obligations and filings. In the event that a company is determined to have broken the law, severe fines may be imposed. But, by using seasoned VAT consultants like CDA in the UAE, the businesses may make sure they are in agreement with the VAT rules by doing   VAT health checks. What is meant by a VAT health check? All UAE taxpayers are accountable for accurately and on time filing their VAT returns. They need to make sure that compliance is met and make sure that the VAT procedures are in order. The  VAT health check i s a practice wherein the VAT procedure and structure are independently reviewed and assessed to see if they are adequate and carried out properly. It is mostly carried out by a qualified independent VAT consultant who is well-versed in VAT regulations. A VAT
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Types Of Audit And Assurance Services Required For Company In UAE

  Businesses are required to hire at least one auditor to audit accounts annually under Federal Law No. (2) of 2015’s Commercial Companies Law, which is governed by Article 27. The audited financial statements and audit reports must be obtained by shareholders or partners from  UAE auditors . Article 236 further specifies that an independent audit firm in Dubai or DMCC approved auditors must analyze a company’s financial statements from a fiscal year and prepare an audit report. In the General Assembly held four (4) months before the end of a fiscal year, the audited financial statements must be delivered to the board of directors of the firm. The corporation must deliver copies of audited financial statements and audit reports to the UAE’s responsible authorities, such as the Federal Tax Authority, or later than seven (7) days after the General Assembly’s convening. Types of audit and assurance services provided in the UAE Businesses in the UAE also purchase  audit and assurance  serv
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