FIRST: Types & Contents of Financial Audit A financial audit is reviewing accounts or financial statements of any entity being natural persons or legal entities of all types and sizes from the smallest sole proprietorship company to the biggest multinational corporation. =============== A – Types 1 – Internal Audit This is a part of the internal
Read MoreThe Scheme will cover the remaining airports and land and sea ports as of December 16, 2018. The refund process consists of clear and simple procedures, strengthening the UAE’s status as a prime tourist destination. H.E. Khalid Al Bustani : – 4,500 retail stores are linked to the system; their representatives thoroughly trained to operate it. Abu
Read MoreRetailers registered in the Tax Refunds for Tourists Scheme must follow 5 steps if the customer requests to make a purchase under the scheme. The Scheme Operator will verify both the export of the goods and refund requests according to the Federal Tax Authority standards. The maximum cash amount that can be refunded to a tourist
Read MoreIn the presence of H.E. Jaber Mohammed Ghanem Al Suwaidi, General Director of the Crown Prince Court of Abu Dhabi, and with strong participation from entities concerned with the implementation of the tax system, the Federal Tax Authority (FTA) Director General His Excellency Khalid Ali Al Bustani delivered a comprehensive presentation on “The Implementation of Indirect
Read MoreH.E. Khalid Al Bustani: The ‘Public Clarifications’ service seeks to promote tax culture among businesses and consumers. The Federal Tax Authority (FTA) has issued a public clarification regarding tax treatment of compensation-type payments, noting that Value Added Tax (VAT) is imposed on supplies of goods and services and if any payment does not relate to a supply
Read MoreDubai Creative Clusters Authority (the “Authority”) is pleased to advise that the 2018 Licensing Classifications Decision for the Creative Clusters Zone (the “LCD”) has now been issued. The LCDreplaces the 2014 version. While the changes to the LCD (from the 2014 version) are largely procedural there are two new compliance obligations that business partners need to be
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