Understanding the Core Difference Between Accountant and Auditor Roles The two professions—accountant and auditor—seem synonymous for the outer world. While both professions play a crucial role in managing financial data, there is a wider gap in their roles and responsibilities. In this blog, let us explore the difference between an accountant and an auditor. This […] The post Difference between an Accountant and an Auditor appeared first on BCL Globiz ..read more

UAE Corporate Tax Filing: 2024 Return Due Date is Sept 30 The UAE’s introduction of a corporate tax is a significant step towards a more diversified economy. Effective from 1st June 2023, the new tax regime applies to businesses with annual taxable income exceeding AED 375,000. This landmark change aligns the UAE with international tax […] The post Corporate Tax Return UAE: What You Need to Know Before Sept 30’2024 appeared first on BCL Globiz ..read more

Step-by-Step Guide: How to Raise a VAT-Compliant Invoice in UAE Raising invoices may appear to be a simple task, but it involves more than just listing the goods or services and their prices. According to VAT laws in the UAE, a business must obtain VAT registration if its supply exceeds the threshold limit of 375,000 […] The post Things to Keep in Mind While Raising an Invoice in The UAE appeared first on BCL Globiz ..read more

Dubai offers numerous opportunities for businesses operating there. It also comes with financial responsibilities. Accounting is a crucial part of the steps taken by the business for business success. Accounting encompasses compliance with relevant financial regulations and reporting requirements; preparation of tax returns, financial statements, and other regulatory requirements; analyzing the financial data to provide […] The post Accounting and Bookkeeping for small business in Dubai appeared first on BCL Globiz ..read more

Essential Takeaways from the Inaugural Tax Period Under UAE Corporate Tax Law In our previous blog, we explored the concept of the first tax period for resident juridical person subject to Corporate Tax Law in the UAE. Now, let’s delve deeper into the specific case of non- resident persons having a permanent establishment (PE) in […] The post Understanding the First Tax Period in UAE Corporate Tax Law – Part 2 appeared first on BCL Globiz ..read more

Key Insights into the First Tax Period of UAE Corporate Tax Law The United Arab Emirates (UAE) Corporate Tax Law has introduced a new era of taxation for businesses operating within the country. A crucial aspect of this law is the concept of the first tax period. This period serves as the foundation for future […] The post Understanding the First Tax Period in UAE Corporate Tax Law – Part 1 appeared first on BCL Globiz ..read more

Which Currency is Compliant for UAE Accounting Standards? The UAE, a hub for budding entrepreneurs and multinational companies, is known for its business-friendly environment. While the United Arab Emirates dirham (AED) is the official currency of Dubai and the entire UAE, due to several factors, such as the requirement of reporting the financials in the […] The post UAE Accounting Standards: Currency Guidelines for UAE appeared first on BCL Globiz ..read more

UBO UAE: Essential Insights and Regulatory Compliance Explained The concept of ultimate beneficial ownership (UBO) has gained significant importance over the last few years. In the dynamic and evolving economic position of the UAE, regulatory requirements require transparency and accountability in businesses. In this blog, we delve into the landscape of UBO, its importance, and […] The post Understanding Ultimate Beneficial Ownership (UBO) in UAE appeared first on BCL Globiz ..read more

UAE Corporate Tax Guide: Key Insights for Individuals The United Arab Emirates (UAE) introduced Corporate Tax (CT) in June 2023. While primarily targeting corporate entities, the law also encompasses natural persons conducting business activities within the country. In this blog, let us look into the key aspects of UAE Corporate Tax for common people. When […] The post UAE Corporate Tax Guide: Essential Tips for Natural Person appeared first on BCL Globiz ..read more

UAE VAT FAQs: Your Top Questions Answered Understanding the complexities of the UAE VAT system is crucial for businesses and individuals alike. This blog addresses the most frequently asked questions on UAE VAT, providing clear and concise answers to help you navigate the regulations with confidence. Whether you’re a business owner or a curious individual, […] The post FAQs on UAE VAT appeared first on BCL Globiz ..read more