IMPORTANT: As per the advice of DMCC Free Zone Authority, All DMCC Registered Companies must ensure the submission of their Annual Audited Financial Statement for the year ended December 31, 2019, on or before the 27th of September 2020….
Tax residency, also referred as ‘fiscal residency’ or ‘residence for tax purposes’, is the residence in the country, in which you are legally obligated to pay personal income tax. A tax residency certificate (TRC), which you’ll sometimes see as a…
Assistance in VAT Return in UAE All VAT- registered businesses must charge 5% VAT in UAE on taxable goods and services. Once a company is registered, all its records must be maintained in accordance with the guidance issued by UAE government…
Many companies especially the small ones have been hardly struck by the COVID 19 Crisis. We have reached the 2nd quarter of the year, yet the infected cases have been commonly increasing and spreading around the world. All of us…
Economic Substance Regulation Announcement We would like to introduce and update you with this newly implemented UAE Cabinet Decision No. (31) of 2019 concerning Economic Substance Regulations (ESR). In accordance with this new law, there is a need for…
Building your professional connections is an art, and the result of this is growing business, new leads, new clients and new opportunities. For every employee, business development skills are a must and an advantage at the same time. This is…
Benefits of Flexible Workplace Conditions for Employees What is Business? Revenue? Clients? People? What comes first are the people we work with and every Employer depend on the Employee at the first place and in a long run. Employers that…
For me digital transformation is much more than a digital transformation. It does not cover software only, but reach beyond it, empower people. Digital transformation encompasses business transformation at the first place. Digital technology would rather be an enabler for…
Economy Changes The world economy is re-shaping and re-aligning rapidly. The latest reports say coronavirus now is the main influencer for the world’s economy, adding to the overall change and increasing its speed. Middle East, being the part of this…
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.
