November 26, 2024 - Page 7 of 10 - Elevate Accounting & Auditing

26 November 2024

Real Estate Activity Report (REAR) filing in UAE

[vc_row][vc_column][vc_column_text] Real Estate Activity Report (REAR) submission by real estate brokers and agents and law firms as per Circular Number: 05/2022 issued by the Ministry of Economy (MOE), UAE [/vc_column_text][vc_empty_space][/vc_column][/vc_row][vc_row][vc_column width=”1/2″][vc_column_text css=”.vc_custom_1665133071749{margin-right: 15px !important;margin-left: 15px !important;padding-top: 20px !important;padding-right: 20px !important;padding-bottom: 20px !important;padding-left: 20px !important;background-color: #eaeaea !important;}”] Ministry of Economy has recently issued a Circular (No. […]

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How to Get an ICV Certificate in UAE?

[vc_row][vc_column][vc_column_text] What is an ICV certificate? The In-Country Value Certification (ICV) was first introduced in Abu Dhabi in 2018 by the Abu Dhabi National Oil Company, ADNOC to promote Emiratization, GDP diversification, and strategic considerations. By 2021, ICV certification process was broadened as a National In Country Value program for suppliers across UAE.  The National

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DDA Audit report

[vc_row][vc_column][vc_column_text] In compliance with the Private Companies Regulations of 2016, FZLLCs and branch offices are required to submit their most recent Audited Financial Statement along with the summary sheet (as per the DDA template) by or before 30th November, 2022 or the due date as mentioned in their AXS portal. Thereafter, all companies are required

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Business Setup in Dubai – Why outsource a consultant for business formation?

[vc_row][vc_column][vc_row_inner][vc_column_inner][vc_column_text]Are you planning for a business setup in Dubai? Dubai is a hub for businesses with a variety of zones. DMCC is the most desired Freezone for the business for their company formation as it has great benefits. In DMCC, the company gets 100% ownership, there will be no personal and corporate tax and many

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DEALERS IN PRECIOUS METALS AND STONES (DPMS)

[vc_row][vc_column][vc_column_text] Background for including under the scope of AML [/vc_column_text][/vc_column][vc_column][vc_row_inner][vc_column_inner][vc_column_text]Precious metals and stones form an important part of UAE’s economy. Though they provide valuable and legitimate commodity to the global trading segment, experience shows that these sectors are under high risk of attracting illicit transactions. It is an easy channel to route, conceal or invest

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Economic Substance Regulations

[vc_row][vc_column][vc_column_text] United Arab Emirates has always been a go-to place for businesses across the world, the major attractions being its ease of conducting business and Tax-Free environment. Being a Global Hub of business, UAE is currently directed towards adapting Global Tax Practices still maintaining its charm. The introduction of VAT and Corporate Tax are major

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