DUBAI’S EXTERNAL TRADE GROWTH REPORT Dubai has set the trade target for year 2025: Dh2 trillion. Despite headwinds from an intensified global economic downturn, the 2019 have intensively contributed towards significant growth and brought the emirate closer to the desired…
Attention all Companies licensed under Ras Al Khaimah Economic Zone (RAKEZ), please be informed that you are required to submit Audited Financial Statements by June 30, 2020. Failure to submit the required audited financial statements will result in a…
VAT Non-compliance Would Attract Fines of up to Dh50,000 It has been more than two years since the UAE levied 5% value-added tax on goods and services. VAT was introduced for the first time in the country, and a number…
In accordance to the Implementing Regulations in DMCC, Requirement No. 4.1 : SUBMISSION OF AUDITED FINANCIALS, all DMCC member companies including subsidiaries and branch companies are required to submit its Audited Financial Statements report and Audited Financial Statements Summary Sheet to the authority within…
Dubai will be hosting for the World Expo 2020. It will be a 173 days event, where each participant are expected to be brimming new experiences. It will be a time to recreate, collaborate, innovate and have fun! Dubai is coming…
In line with our commitment to comply with the IFRS 16 updates, Asad Abbas & Co. (Chartered Accountants) has conducted training for its highly qualified accountants and auditors on the 30th December 2018, just right after the seminar held and…
Asad Abbas & Co. (Chartered Accountants) ensures that all its highly qualified accountants and auditors are well equipped with this new regulation. IFRS 16, Effective January 1, 2019, will kick off and it is required, that all businesses comply with…
Do you have a business idea but don’t have any idea about the rules and regulations in the United Arab Emirates? Asad Abbas & Co. (Chartered Accountants) will help you with all the advisory and we will cover everything you…
The Managing Partner, Mr. Asad Abbas, CPA, CMA CFM recently attended the EMEA PrimeGlobal Conference in Madrid, Spain on September 27, 2018.
The best way to start investing in Dubai is to set-up an offshore company and open a bank account.
The UAE offers incoming business with all the advantages of a highly developed economy, and with opportunities booming in the world of business today, International Companies seeking to establish a business in Dubai, have a host of alternatives.
Financial statements may be used by different stakeholders for a multitude of purposes. Owners and managers require financial statements to make important business decisions affecting its continued operations. Financial analysis is then performed on these statements, providing management with a more…
Financial statements are prepared according to agreed upon guidelines. In order to understand these guidelines, it helps to understand the objectives of financial reporting. The objectives of financial reporting, as discussed in the Financial Accounting Standards Board (FASB) Statement of…
Value Added Tax (VAT) is a tax on consumption levied in the United Arab Emirates by the National Government. It was introduced on January 1, 2018. It is administered and collected by The Federal Tax Authority, primarily through the Federal…
Financial statements are prepared according to agreed upon guidelines. In order to understand these guidelines, it helps to understand the objectives of financial reporting. The objectives of financial reporting, as discussed in the Financial Accounting standards Board (FASB) Statement of…
Submission of your VAT Return is vital and very challenging task of every business. It requires an efficient and competent professional with relevant expertise in order to properly accomplish the work. Appointing the right people to perform the task is…
Financial statements are prepared according to agreed upon guidelines. In order to understand these guidelines, it helps to understand the objectives of financial reporting. The objectives of financial reporting, as discussed in the Financial Accounting standards Board (FASB) Statement of…
