One can only hope for a better future and with this ever-growing world it becomes even more difficult to be certain about anything and this is never been truer than when you are talking about emerging accounting trends. A Sage report reveals that about 90% of accountants feel that accountancy is undergoing a cultural shift…
Technology has changed how we manage many different aspects of business operations, and accounting is no exception. Before exploring the role of technology in accounting, it helps to look at some of the types of technology used in accounting today. Cloud-based accounting software: This software makes it easy to input and track accounting data and generate…
In today’s economic situation it is essential to detect the obstacles which are creating problems in business development. One of the mainly addressed problem in both small scale and large-scale business is unprofitable customers. Its essential to detect this to avoid the high cost of low profit customers. As they not only affect your business…
There are a number of advantages of outsourcing the accounting services of a company. These are: High Level of Accuracy It becomes extremely important that the reports and data generated ends with a high accuracy level. Professional accounting firms can help you in getting the same that will help you to uplift your business. Cost-effective…
Most small business don’t have enough time to dedicate themselves in maintaining proper records which results in poor bookkeeping. The tedious and mundane task of bookkeeping can often take up hours and hours of time. This is the primary reason that well over one-half of all small business owners do not keep their finances up…
In today’s fast growing world and the ongoing recession periods companies are trying to cut their costings to the bare minimum to ensure that they are not wasting their funds on anything that is unnecessary. In order to keep a proper track of their books, payroll and accounting activities in a cost-effective way with high…
Published on 31st Jan 2022. DUBAI, United Arab Emirates — The United Arab Emirates will be introducing a federal corporate tax on business profits for the first time, the Ministry of Finance announced Monday. The news represents a significant shift for a country that’s long attracted businesses from around the world thanks to its status…
The Federal Tax Authority (FTA) has announced a reduction in penalties for businesses to file accurate tax returns by June 28, 2021. The UAE Cabinet issued Resolution 49/2021 to amend the provisions of Cabinet Resolution 40/2017 relating to administrative penalties imposed for violating tax laws in the UAE The new resolution grants the UAE Federal…
WHAT IS ESR? The UAE enacted Economic Substance Regulations (Cabinet of MinistersResolution No. 31 of 2019) on 30 April 2019 and released Guidance (Ministerial Decision 215 of 2019) on the application of the Regulations on 11 September 2019. The Regulations and guidance applies in all UAE jurisdictions, including financial free zones In consultation with the…
