Mastering Accounting & Finance

The Federal Tax Authority (FTA) has launched a landmark penalty waiver initiative in 2025, offering UAE businesses a critical opportunity to avoid or recover administrative fines, including the AED 10,000 penalty for late Corporate Tax registration. To qualify for the FTA penalty waiver and refund in 2025, businesses must submit their first Corporate Tax return […]

Is It Time to Hire a Bookkeeper? 9 Signs Dubai Businesses Shouldn’t Ignore Running a business in Dubai is a lot like juggling in a sandstorm exciting, fast-paced, but hard to control without the right systems in place. And one of the most overlooked yet critical systems is bookkeeping. Many business owners try to handle

UAE Small Business Relief Explained: Eligibility, Benefits & Tax Filing Guide (2025–2026) With the introduction of Corporate Tax in the United Arab Emirates in June 2023, small businesses have been presented with a new set of financial responsibilities. However, to support the country’s entrepreneurial landscape, the Federal Tax Authority (FTA) introduced a Small Business Relief

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

A Complete Guide to VAT Refunds in the UAE: Eligibility, Application Process, and More Value Added Tax (VAT) is a consumption tax that is levied on most goods and services in the UAE. While this tax may seem like an additional expense, the UAE government provides several avenues for refunding VAT under specific circumstances. Whether