Blog – N R Doshi & Partners

Examining the Complete Overview of External Audit Process for DMCC Companies in UAE

Sustaining reputation and financial transparency is critical in the fast-paced world of business, especially if it is running in the UAE. This is where financial statement accuracy and dependability are ensured through audits. UAE has granted Free Zones for businesses to run without any interruption and get benefits including 100% foreign ownership, zero import duties, and first-rate infrastructure. Companies operating…

Digital Transformation in Accounting: Embracing Technology Trends in the UAE

In the relentless pace of today’s world, the financial sector stands at the forefront of a transformative journey powered by technology. In recent years, the UAE has emerged as a pioneer in the accounting industry, embracing innovative trends and solutions that have redefined traditional processes. These technological advancements haven’t just streamlined accounting, but made it more efficient, timely, and accurate.…

Announcement of Updated Resolution on Real Beneficial Owners in the UAE

In a recent development, the UAE Cabinet has introduced Cabinet Resolution No. (109) of 2023 (“New Resolution”), effectively replacing and amending the previous Cabinet Resolution 58 of 2020 (“Old Resolution”). This new resolution specifically addresses the Regulation of Real Beneficiary Procedures in the country, introducing fresh practices and processes to oversee the minimum obligations of registration authorities and legal entities…

UAE’s Ministry of Finance Seeks Input on Global Minimum Tax Framework

On March 15, 2024, the UAE Ministry of Finance (UAE MoF) initiated a public consultation regarding the prospective framework for implementing Pillar 2, the global minimum tax framework. The deadline for input submission is April 10, 2024. This consultation is pertinent to all businesses operating in the UAE as part of multinational groups with global revenue exceeding EUR 750 million.…

A Comprehensive Guide into Musataha Agreements and VAT Implications in the UAE 

Mustaha Agreements play a vital role in real estate development in the UAE, as they provide investors with an amazing opportunity to build stable and secure investment-based projects and outline significant limitations and regulations on ownership of foreign land. In simpler words, this agreement aids individuals in utilizing others’ land for a longer period, often more than 10 years, which…

VAT Public Clarification on SWIFT Messages: Streamlining Input Tax Recovery for Financial Institutions

In a move aimed at facilitating the recovery of Value Added Tax (VAT) by financialinstitutions, the UAE Federal Tax Authority has issued a Public Clarification regarding theuse of SWIFT messages for recording international bank charges. Recognizing theimpracticality of maintaining tax invoices for each SWIFT transaction, the clarification shedslight on the acceptability of SWIFT messages as sufficient documentary evidence. Thisarticle explores…

UAE Corporate Tax – A Comprehensive Overview of the New Development of Corporate Tax Registrations for Taxable Persons in UAE

Introduction The Federal Tax Authority (FTA) recently announced Corporate Tax Registration deadline for all Taxable Persons wide FTA Decision No. 3 of 2024. Under the issued decision on deadlines, all Taxable Persons must register with the Federal Tax Authority (FTA) for Corporate Tax within the applicable deadlines to avoid levy of any penalties. Let us have a close look at…

Start typing to search

Shopping Cart
Translate »