Introduction of Federal Corporate Tax UAE UAE has recently announced leavy of Corporate Tax on Net Profit of businesses.  While the final law is yet to be issued by the Federal Tax Authority (FTA), they have started sharing periodic information about Corporate Income Tax (“CIT”) to create awareness and seek public consultation. Through this article, we are sharing important highlights from the knowledge shared by the FTA on the subject.  The users may seek to obtain further information by reading detailed information shared by the FTA.  We also welcome readers to connect with us ..read more

Why do you need VAT consultancy services in UAE?  VAT is an indirect tax enforced in the UAE on the consumption of goods and services. Organizations in the UAE need to register themselves under the VAT law as per the rules of the country. It is necessary to get your business approved by the government of UAE for VAT application. An incorrectly done VAT registration or incorrectly filed VAT returns can cause you fines and too much hassle to sort it out. It is also a time consuming task. Therefore it is important to have correct guidance on VAT related matters.  If you are searching fo ..read more

Accountant’s Box Newsletter: Is ‘Once Year Accounting Package’ suitable for you? Once Year Accounting Package  Are you a Start-up/SME business owner who spends so much time selling your product/service and building your client base that you simply don’t get time to do your firm’s accounting? Even if you try to do accounting on your own, the additional workload will not be sustainable for long considering the business growth. Do you want a solution wherein you get your expenses and invoices organised and get financial reports showing top line summaries which will help you take decisions b ..read more

Accountant’s Box Newsletter: Is ‘Payroll Support Package’ suitable for you? This Month Focus Service: Payroll Support Package Processing payroll is a time-consuming process and requires attention to detail. Handling large amounts of staff data and ensuring accurate calculation takes away considerable time from the core business. Payroll outsourcing reflects the time a company can win back by outsourcing these duties.  In-house payroll systems are subject to a lot of risk, including loss of data as files may corrupt, identity theft and salary details leaked among employees. Outso ..read more

INTRODUCTION A partnership is a type of business organizational structure which involves two or more people going into business together with a view to make profit. While setting up a partnership business the owners agree to share profits/losses generated by the business. Forming a partnership is a way to create a business larger than yourself. The most common type of partnership entered is a general partnership, where all partners participate in the day-to-day management of the business. SOME DISTINCT TRANSACTIONS ASSOCIATED WITH PARTNERSHIP COMPANIES  Except for the partners’ separate e ..read more

Accounting for ‘Roller Software’ customers using ‘Xero’ `ROLLER Software is a global company that is designed to help businesses in the leisure and attractions industry to operate more efficiently, more effectively, and deliver great guest experiences. ROLLER Software is a cloud based software that helps customers offer amazing guest experiences through a full suite of venue management features, including ticketing, point-of-sale, CRM, self-serve kiosks, memberships, digital waivers etc.  They are ideal for industries like: Theme parks  Adventure Park Entertainment & Amusement p ..read more

Accountant’s Box Newsletter: Is ‘Daily Accounting Package’ suitable for you? This Month Focus Service: Daily Accounting Package In this technology age having a virtual and outsourced accounting department brings a lot of great value to a company. It can give you highly qualified team at a lower cost, it saves your office space and it may save lots of other overhead costs such as gratuity & leave salary. If you are a well established company then having an accounting department is mandatory for your business. This whole department can be outsourced. We can help you to do that. We provide yo ..read more

Accountant’s Box Newsletter: Is ‘VAT Compliance Package’ suitable for you? This Month Focus Service: VAT Compliance Package VAT compliance is a complex topic and one where errors can be both frequent and costly.  Our professional VAT experts can assist you in the following ways to ensure complete VAT compliance of your company with FTA rules: VAT Health Check: VAT health check is a comprehensive review of the organization’s overall VAT readiness. It will help you in identifying the areas which require rectification by analysing the previously filed VAT returns. Your business will avoid a ..read more

Accountant’s Box Newsletter: Is ‘VAT Helpdesk Package’ suitable for you? This Month Focus Service: VAT Helpdesk Are you looking for solutions to your vat related issues or query? Do you want to understand about a specific part of UAE vat law which applies to your business? Do you have questions on vat obligations specific to your line of business? If yes, you search ends here! We at accountant’s box have a special vat helpdesk wherein we answer all your vat related queries. No annual or any type of commitment required. Just let us know your question and we answer your query. Charges based on p ..read more

Accountant’s Box Newsletter: Is ‘DIY Accounting Package’ suitable for you? This Month Focus Service: DIY Accounting Package Have you just started your new venture? Accounting is something that you should consider to start early.  What does accounting do?  It keeps your expenses tracked It tracks your receivable  It lets you know about your capital invested It informs you about how cash is flowing in your business It gives you analysis of your business performance Starting early gives you good data to refer to. We are bringing herewith DIY (Do It Yourself) accounting package fo ..read more