[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 […]
How to Get an ICV Certificate in UAE? Read More »
[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
[vc_row][vc_column][vc_column_text] Launched about two years ago, the UAE Golden Visa Program became an instant hit, especially among Indians  & other expats looking to establish a base in Dubai. And now the new changes make it even more exciting and promise to empower more people to achieve their dreams of quality of life in Dubai. The
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[vc_row][vc_column][vc_column_text] The FTA conducts VAT audit in the UAE to allow the government to determine if a registered business is adhering to the tax laws and specifications under the VAT Laws. The FTA will investigate whether the taxable persons have collected all the taxes and paid to the government within the allotted timeframe. During a
Prepare for FTA Inspection Today Read More »
[vc_row][vc_column][vc_column_text] An objective assessment of the effectiveness of the VAT procedures, paperwork, and control measures is known as a VAT Health Check. It includes a review of VAT returns, analysis of relevant business transactions, and the maintenance of tax records as required by the law. There need not be a specific reason for the FTA
What is a VAT health check in UAE? Read More »
[vc_row][vc_column][vc_column_text] Certain VAT fines and penalties UAE are imposed when requirements of UAE VAT law are broken. Every taxpayer should be aware of the circumstances that might lead to the position of these penalties by the FTA. VAT fines are imposed in the UAE when a taxable person fails to follow the administrative procedure required
VAT fines and penalties in UAE Read More »
[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
Business Setup in Dubai – Why outsource a consultant for business formation? Read More »
[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
DEALERS IN PRECIOUS METALS AND STONES (DPMS) Read More »
[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
Economic Substance Regulations Read More »
[vc_row][vc_column][vc_column_text] VAT is an indirect tax on the supply of taxable goods & services in the UAE. Entities registered for VAT will be subject to a VAT audit voluntarily initiated by FTA to ensure that the entity has appropriately complied the law and all the tax liabilities are paid. The main purpose of VAT audit
Tax Agency in Dubai Read More »
