UAE VAT EXPERT

Businesses in the United Arab Emirates have geared up for the Value Added Tax implementation since 1st January 2018. Ever since the law has been imposed, many small and medium-sized businesses have undergone changes in terms of infrastructure, payment of taxes, goods, and services. The most important aspect required to be reviewed by the SMEs in this context is to check and confirm the parameter for VAT readiness. Apparently, a majority of business houses is still not aware of the fact whether their trade requires  international taxation assistance  to advise on the aspect of VAT implementation and readiness. Here’s a five-point checklist that can assist businesses in tracking the graph. 1. Have you modified your accounting documents? Have you updated your sales invoice, credit notes, quotations, debit notes, purchase record documents, and purchase orders? You need to modify each of the mentioned documents with the Tax Registration Number and other essential informatio...

The internal audit procedure observed in Dubai can turn out to be complex and legally challenging if you are not aware of the technical aspects associated with the same. Most of the companies in the United Arab Emirates are under the mandate of the government. They are liable to abide by the audit laws by allowing the authoritarian bodies to do their job. In case you are not aware of the audit procedures followed by the regulators of  corporate finance in Dubai , here is something you need to know. 1. Prepare yourself for the audit First things first, you got to gear up for the big day by preparing yourself for the audit. Just the way a company has to prepare for the audit, the auditor should prepare himself for the internal audit procedure as well. 2. Arrangement and synchronization of documents You should invest enough time in gathering the required documents for audit. In addition, you are also required to keep track of the paperwork and figure out if there is a ...