FINES, PENALTIES FOR VAT DUBAI

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Fines for tax violation: So it’s time that we reached when non-compliance will cost a lot for doing business in Dubai – UAE. Fines are imposed for tax violations in UAE.  That makes it clear that businesses can’t fool the system.The cabinet decided that fine must be minimum of DH500 and maximum of three times […]

TOURISTS CAN CLAIM VAT REFUND OR NOT ?

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The answer to above question is YES, as all other countries with similar tax system allow travelers to claim vat. Tourists to the UAE will also be able to claim back the VAT on purchases they make whilst visiting the country, according to a draft executive regulation released by the Federal Tax Authority (FTA).Although till […]

HOW TO DO BOOKKEEPING FOR SMALL BUSINESS?

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5 Tips for SME Bookkeeping If you are not a fan of playing with numbers and or you are not a professional accountant, bookkeeping is not going to be a fun-game for you. But identifying a specific path for your “small business bookkeeping”, early habits will save you from costly errors and system overhauling in […]