The growing importance of outsourcing payroll services and why it should be chosen by every company. The growing trend of business and the modern world has motivated companies to outsource payroll. However, there are still many companies that perform and manage many functions all in- house. From accounting, HR, tax, payroll and other financial functionsread more
A lot of business enterprises tend to limit and less utilize the aspect of accounting for business productivity. Away from the fact that accounting’s major function is the management of business finances, it can also be an effective tool for generating massive income for the business. Bookkeeping services in UAE aim at managing business servicesread more
Reverse Charge Mechanism is a mechanism under which the recipient of goods or services is required to pay VAT instead of the supplier. It is applied as per Article 48 of Federal decree-law no. (8) Of 2017 on value added tax. It applies to the following:- If the Taxable Person imports Concerned Goods or Concernedread more
Designated Zones are areas identified by the UAE Cabinet as eligible for special treatment under the UAE VAT law. A Designated Zone must be a specific fenced area, in addition to meeting all of the following requirements: It must adhere to strict control criteria laid out by the government. The operator must keep detailed recordsread more
Telecommunication services means delivering, broadcasting, converting or receiving any of the services specified below by using any communications equipment or devices that transmit, broadcast, convert, or receive such service by electrical, magnetic, electromagnetic.read more
Financial services are services connected to dealings in money (or its equivalent) and the provision of credit and include for instance (1) The exchange of currency, whether effected by the exchange of bank notes or coin, by crediting or debiting accounts, or otherwise, (2) The issue, payment, collection, or transfer of ownership of a cheque or letter of credit.read more
Real estate is generally considered to be property consisting of land or buildings, and
1) Any area of land over which rights or interests or services can be created,
2) Any building, structure or engineering work permanently attached to the land.
The supply of educational services shall be zero rated on the conditions that: (1) the supply of educational services is provided in accordance with the curriculum recognized by the federal or local competent government entity regulating the education sector where the course is delivered, (2) the supplier of the educational services is an educational institution.read more
Related Parties are two or more persons who are not separate on the economic, financial or regulatory level, where one can control the others either by Law, or through the acquisition of shares or voting rights.
Two or more Persons shall be considered Related Parties if they are associated in economic, financial and regulatory aspects.
Profit Margin scheme is in which, The Registrant may, in any Tax Period, calculate and charge Tax based on the profit margin earned on the Taxable Supplies. The profit margin is the difference between the purchase price of the Goods and the selling price of the Goods, and the profit margin shall be deemed to be inclusive of Tax.read more