What Is A TRN Number In UAE: Meaning of TRN Certificate?
The Tax Registration Number (TRN) is a distinct 15-digit code obtained when a company undergoes the Value Added Tax (VAT) registration process in UAE. TRN comes into play with VAT, a tax borne by consumers. It serves as a means to distinguish a business from others. In the UAE, every company is mandated to register […]
Tax Invoice Format In UAE: How To Make a VAT Invoice
The VAT regulations in the UAE categorize tax invoices as a documented representation, either in written or electronic form, capturing the occurrence and particulars of a Taxable Supply. The Federal Tax Authority (FTA) mandates two types of tax invoices: Simplified (for specific cases) and Full (for values over AED 10,000), Non-compliance can result in penalties. […]
Exploring Basic Principles Of Accounting: Highlighting 3 Golden Rules
In the accounting domain, the “Golden Rules” function as fundamental principles guiding the accurate and reliable recording of financial transactions. Similar to the interpersonal Golden Rule, these guidelines ensure precise and trustworthy financial records. Serving as the cornerstone for financial entries, these principles are vital for ensuring effective financial management. This article highlights the three […]
What Is Audit License and How To Apply For Audit License In Dubai?
The UAE has become the favorite business landscape because of its business-friendly tax and audit regulations. As the UAE becomes a leading global business hub, the demand for skilled auditors in Dubai is rising. In Dubai’s fast-growing economy, obtaining an audit license allows your business to help many companies accurately submit their annual audits to […]
How To Make VAT Payments To FTA In UAE?
All registered taxpayers in the UAE need to file VAT returns monthly or quarterly. If the output VAT is more than what can be recovered, the difference is a VAT liability to be paid to the FTA. EmaraTax has been launched by the Federal Tax Authority (FTA) for VAT payments in the UAE. If you […]
What Are The Corporate Tax Registration Deadlines For UAE Companies?
Businesses in the UAE must comply with set corporate tax registration deadlines for submitting their applications. Effective March 1, 2024, the Federal Tax Authority (FTA) has outlined specific timeframes for different types of taxable entities or individuals to register for corporate tax in UAE, ensuring compliance with tax laws. The latest Federal Tax Authority Decision […]
Starting A Business In Dubai As A Foreigner: All Things You Should Know!
The economic hub of the Middle East ‘Dubai’ has business opportunities for foreigners who want to set up their business from scratch. As a matter of fact, 90% of the population are foreigners in the city. This means that it is a lot easier for foreigners to operate their businesses as they will get a […]
List of 19 Highly Successful Business Ideas In Dubai, UAE
Dubai is a successful business destination known for its growing economy and business-friendly atmosphere. The city offers numerous opportunities for successful business ideas in dubai, catering to various industrial sectors and a diverse population, whether you’re a local or a foreign investor. Establishing a business in the UAE proves profitable, given that foreigners make up […]
Outsourcing vs. In-House Bookkeeping: Making Informed Decisions for UAE SMEs
In today’s business world, choosing between in-house and outsourced bookkeeping is vital, especially for UAE businesses given its global importance. Initially, many handle bookkeeping internally, but as they expand, outsourcing becomes attractive for its cost-effectiveness and access to skilled professionals. Particularly, small businesses facing resource constraints must weigh the pros and cons of Outsourcing Bookkeeping […]
How To Start An Online Business In Dubai, UAE?
Dubai is a strategic global hub with world-class infrastructure and a business-friendly environment with top-notch infrastructure, services, a free enterprise system, and an attractive financial sector. Its diverse trading strategies make it an exceptional market for global companies across industries in the digital era. With widespread internet access and advanced infrastructure, Dubai’s vast online market […]
