Auditors in UAE

VAT procedures in the UAE are regulated by Federal Law No. 17 on Tax Procedures, generally known as the Tax Procedures Law. On September 16, 2021, the UAE Cabinet enacted Federal Decree-Law No. 28 of 2021, which changes various aspects of Federal Law No. 7 of 2017 on Tax Procedures (Tax Procedures Law). The modifications were implemented on November 1, 2021. There were some significant modifications to the time restrictions for submitting reconsideration petitions, appeals to the Tax Dispute Resolution Committee challenges to FTA rulings, the time period for filing an appeal with the courts, and so on. The following are the important highlights of the amendments: Extended Timeline for Applying For VAT Reconsideration Businesses in the UAE have the right to request VAT reconsideration after 20 business days of being notified of the judgment under previous provisions of the Tax Procedures Law. Whereas now, according to Article 27 (1) of Federal Decree-Law No. 28 of 2021, businesses n...

Running a firm can be very challenging at times. You can perform your own accounting at the start, but it can be more challenging as your business continues to expand. So, you’ll need to hire someone to manage your company's finances and taxes.  Also, to provide you with valuable guidance as you focus on growing your business. Given below are certain signs that may state that it may be time for you to turn to outside help in handling your company's finances. Experiencing Rapid Growth Every business owner hopes to reach this level of success, but rapid growth means quickly addressing new demand. To fulfill the demand, more people, more commodities, more internal processes, and leadership that focuses on staying ahead of the expansion are all required. All of this involves extra paperwork & calculating figures, so having someone on hand whose primary function is to keep the accounts in order is helpful.  Paying a Lot of Taxes As your company in the UAE grows, yo...