If you are a business owner in Dubai, you know how important it is to have a reliable and trustworthy accounting firm to handle your financial needs. Your financial health can make or break the success and growth of your business. It can be a challenging task to find the appropriate accounting firm amidst the …
The Best Accounting Firm in Dubai: Ibrahim Tawakul Accounting and Bookkeeping Read More »
Bookkeeping is a critical aspect of any successful business, not just in Dubai, but all around the world. It enables you to keep track of financial transactions, manage income and expenses, and make well-informed decisions. Moreover, it saves you time and money while ensuring compliance with tax laws and regulations. In this article, we will …
The Importance of Bookkeeping for Business Success Read More »
If you’re a business owner in Dubai, you already know how crucial it is to stay on top of your accounting and bookkeeping tasks. However, managing these tasks in-house can be a time-consuming and tedious process, especially if you have limited resources. This is where outsourcing accounting and bookkeeping services in Dubai can be a …
5 Surprising Benefits of Outsourcing Accounting and Bookkeeping Services in Dubai Read More »
Maximize Your Profitability with Our Customized Accounting Package GET 1 MONTH FREE TRIAL Welcome to Ibrahim Tawakul Accounting and Bookkeeping! We are a trusted accounting firm based in Dubai, providing top-quality financial services to businesses of all sizes. And now, we are offering a free one-month accounting package trial to new clients! Our Accounting Package …
Excise tax is a type of indirect tax that is levied on certain goods and services in the United Arab Emirates (UAE). It is intended to be a consumption tax, meaning that it is imposed on goods and services that are consumed within the UAE. Excise tax is different from value-added tax (VAT), which is …
As a business owner in the United Arab Emirates, it is important to have a clear and accurate understanding of your financial situation. Properly prepared financial statements can help you make informed decisions about your business, secure financing, and attract investors. Here are some steps to follow when preparing financial statements in the UAE: Gather …
The preparation of annual financial statements is a crucial step in the financial management of any business. It helps to provide a clear and accurate picture of the company’s financial performance over the past year. In Dubai, financial reporting requirements are strict. And it is important for businesses to ensure that their annual financial statements are prepared in …
You can file VAT return through FTA online portal. You have to ensure that you have met all the tax return requirements as per FTA before filing. It should be published at the end of each tax period to FTA. Once you get the form, you have to fill the boxes with accurate information regarding your purchase, sales, Input …
Importance of VAT Registration in the UAE Businesses operating in the UAE must prioritize VAT registration to comply with the legal requirements set by the UAE government. VAT registration becomes mandatory when the taxable supplies and imports of a business exceed the threshold of 375,000 dirhams. However, businesses that do not meet the criteria for …
The primary purpose of VAT registration in the United Arab Emirates is to elevate the nation’s financial system to parity with the rest of the world. Moreover, the term ‘audit’ refers to verifying a person’s tax history by examining their tax records, documentation, and tax return files. In this process, the Federal Tax Authority (FTA) …