FTA outlines new procedure for submitting tax returns
The Federal Tax Authority (FTA) has outlined a simple four-step online procedure allowing businesses to easily submit their tax returns via the e-services portal on the FTA website.More
10 important things you need to know about VAT in UAE
Here’s a rundown of what you need to know about VAT – from what products and services are subject to it to knowing whether companies are trying to pull a fast one on youMore
VAT: Are UAE businesses ready or not?
The UAE business community is voicing concerns about the general readiness of its members to adapt to the new tax regime in less than 40 days. The latest to raise doubts on the preparedness in embracing the region’s landmark tax reform is the head of the influential UAE Banks Federation.More
Countdown revs up for VAT implementation in UAE
The message is loud and clear to all UAE businesses required to register for value-added tax (VAT) to complete their registration prior to the January 1, 2018 deadline or face penalties for late registration as executive regulations have been approved by the Cabinet.More
Why the hospitality sector sees VAT as an opportunity
While the full details of the VAT implementation are still being defined, it is not a measure that is likely to impact the tourism industry.More
4 Common Financial Mistakes Every Small Business Owner Should Avoid
Every entrepreneur and business owner will make a few financial mistakes during their journey. Those who aren’t savvy in accounting often overlook the need to brush up on their financial IQ.More
7 Signs Your Company Has Good Financial Health
It’s somewhat easy to determine if your company is doing well. You’ll be in the black every month, able to make your payroll and pay all of your monthly bills and expenses. But are there discernible levels or observable distinctions that reliably signify good financial health? Or are there ways to determine how well you’re doing beyond the norm?More
The 7 Deadly Financial Sins of Small Businesses
This year’s tax season has finally been put to bed. And many people — both small-business owners and consumers — are breathing a collective sigh of relief. However, there is a fundamental difference between business and personal finances when it comes to taxesMore
10 Financial Resolutions for the New Year
The New Year is a great time to overhaul your financial life for the better, and one excellent place to start is by making good financial resolutions that can help get you closer to your money goals. Here are a few you might consider adding to your own personal agenda.More
Top 6 Accounting Tips for SMEs
Weigh the option of hiring a professional accountant and Do it yourself accounting or Outsourcing to an expertMore
Financial Coach, Financial Advisor, Or Financial Planner: Which Should You Use?
Getting your finances in shape can be a tall order. It’s not the most exciting topic for many people and it can be extremely confusing to try to make sense of all of the details without making a mistake.More
How to Calculate Gross Profit
One of the most important financial concepts you will need to learn in running your new business is the computation of gross profit. And the tool that you use to maintain gross profit is markup.More
Why businesses in UAE need a good CFO (Chief Financial Officer)?
Business in UAE is growing at a very rapid rate and it has started to show its economic stability in International market. Sustainability of business-levels is a challenge. This has lead to the need for a Chief Financial OfficerMore
Benefits of Outsourcing Accounts
Outsourcing accounts is thus beneficial as it may not be economical to employ similar in-house accounts / finance executives and managers. By completely or partially outsourcing accounts, an organization can receive much higher level of management information reports at nearly one-third the cost.
Outsource bookkeeping, outsource accounting, outsource financial management, or outsource auditing – you will definitely save on costs of resignations / terminations, costs of appraisals / increments, cost of salary & leave salary & other related costs.