ExcellentAccountant

Driving your business without accurate financial reporting is like trying to navigate Dubai’s busy Sheikh Zayed Road with a fogged-up windshield. You might move forward, but you won’t see the turns, signals, or roadblocks ahead — and the chances of a crash increase by the minute. Financial reporting works like that clear windshield, helping business […]

Summary Tax filing in the UAE is an essential responsibility for businesses, as the country has implemented corporate tax and VAT regulations. While individuals do not pay income tax, businesses must comply with VAT (Value-Added Tax) and corporate tax rules. Mistakes in tax returns can lead to penalties, delays, and audits by the Federal Tax

Summary Know Your Customer (KYC) is a crucial process in financial compliance that helps Licensed Exchange Businesses in the UAE prevent money laundering (ML) and the financing of terrorism (FT). The Central Bank of the UAE (CBUAE) mandates strict KYC measures under its Anti-Money Laundering and Combating Financing of Terrorism (AML/CFT) Program, outlined in Chapter

Summary Value Added Tax (VAT) is an essential part of the UAE’s tax system. Introduced on January 1, 2018, VAT is a consumption tax levied on goods and services at a standard rate of 5%. Businesses in the UAE must comply with VAT regulations, including registration, invoicing, tax returns, and record-keeping. This guide simplifies VAT

Summary Accounting errors can have serious financial consequences for businesses, leading to compliance issues, cash flow problems, and even penalties. Many business owners, especially small and medium enterprises (SMEs), unknowingly make accounting mistakes that can drain resources and stunt growth. This blog highlights ten common accounting mistakes, their impact, and how to avoid them, ensuring