To survive in the competitive business space of UAE, every entrepreneur must take steps towards continuous improvement towards their customer and business goals. Good financial management is crucial for growth and no matter how good the business idea might sound, if it is not financially feasible, then the business will not survive. Everything must be …
Audits in UAE – Its Importance & whether its mandatory Read More »
Governments are constantly looking for ways to increase the revenue they are receiving from their constituents. One way the UAE is adding additional revenue to its budget is through the introduction of corporate taxes for business owners. Navigating this new tax is a top priority for business owners to avoid overpaying in taxes and to …
UAE offers a complete set of lucrative entrepreneurial benefits to entrepreneurs and investors to start their businesses. Mainly, there are two types of company formation in UAE i.e. Mainland and Free zone. Businesses of any kind can be started in the Emirates, which allows all the expats to achieve their entrepreneurial dreams in the country. …
Company formation in UAE – Mainland and Free Zones Read More »
ICV stands for In-country Value, which was launched in the year 2018 in UAE[Abu Dhabi] by ADNOC [Abu Dhabi National Oil Company] to boost GDP diversification and economic strategy considerations. Due to the success of ICV, it was later implemented by MoIAT [Ministry of Industry and Advanced Technology] in the year 2021. The ICV certification …
Accounting is the act of recording financial information accurately helping business owners handle operations and manage finances efficiently. Accounting software utilize algorithms to track transactions and create reports based on the data input. Accounting has developed over time as businesses evolved with the advancement of technology. For example, as computers became more advanced, accounting software …
Accounting as a necessity in the current scenario Read More »
DMCC free zone provides a lot of benefits while registering and running business such as different licenses, stress-free business formation, etc. The DMCC free zone businesses must get their accounts audited by DMCC-approved auditors. Understanding DMCC Rules & Regulations for Businesses DMCC has its list of approved auditors to ensure that there are the …
CRS and FATCA are two reporting standards followed in UAE. In this blog, we will cover everything that you need to know about CRS & FATCA reporting standards. What is FATCA? FATCA stands for Foreign Account Tax Compliance Act which requires all foreign financial institutions to keep a record of the assets held by the …
CRS & FATCA: Everything You Need to Know in 2023 Read More »
What is ESR in UAE? Why is it important? ESR was introduced to honour the commitment of becoming an active partner of the Organisation for Economic Cooperation and Development [OECD] framework. It was issued as a counterpart for the EU Code of conduct group assessing UAE’s taxation framework regarding business taxation. Importance of Economic Substance …
Economic Substance Regulations (ESR) in UAE: Complete Guide Read More »
goAML is implemented by the UAE to protect against all kinds of money laundering preventing all suspicious financial transactions. In this blog, I will give you an overview of goAML & how you can register yourself. goAML is used by more than 50 countries worldwide, it is an integrated portal that is used to identify …
There has been a latest development in the penalties on defaulting on the payment of VAT and ESR by the FTA(Federal Tax Authority). The main motive behind these changes is to help businesses recover from the hit due to the global pandemic. The department has been active to keep the businesses motivated by discounts and …
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AMAJ a member of AGN international comes with a legacy of more than 30 years of business advisory services to SMEs and large scale clients in multiple industry domains. We adapt a service model where we act as a key member in the client’s management team involving in all strategic business decisions as an unbiased advisory doing a 360 degree evaluation of every pros and cons.