EMT ACCOUNTING AND TAXATION SERVICES - UAE

     UAE TAXATION AND ROLE OF REGISTERED TAX AGENTS IN UAE UAE TAXATION: To diversify its revenues and align itself with international markets, the UAE has introduced a series of taxes over the last few years. Beginning with the implementation of the Value Added Tax (VAT), followed by the Economic Substances Rule (ESR) and then Country-by-Country Reporting (CBCR) regulations, and now with the newly introduced Corporate Tax (CT), the UAE Government, Ministry of Finance Has taken concrete steps to streamline its tax system.   ROLE OF REGISTERED TAX AGENTS IN UAE : The history of UAE says that UAE was a tax-free country and Dubai's businessmen and professionals were clueless about the intricacies of taxation, but now when the government of UAE has introduced tax laws one after the other, it is not easy for everyone to understand the taxation law, its clauses, protocols, and subsections, and that's where a registered tax agent comes in and help you in staying well complied w

  The UAE Ministry of Finance has recently made an announcement listing people who are exempt from registering for corporate tax.   AE Ministry of Finance has announced that certain persons are exempted from registering for Corporate Tax. And the Authority issued a Ministerial Decision No. 43 of 2023 on the Exemption from Tax Registration for the Purposes of Federal Decree-Law No. 47 of 2022 on the Taxation of Corporations and Businesses (“Corporate Tax Law”) in accordance with Article 51. Subject to corporate tax law.   Listed below are those that are covered under the UAE Corporate Tax Registration Exemption:   Government organizations among the exempted,   Government controlled entities,   Includes extractive businesses and non-extractive natural resource businesses that meet     the conditions required under the Corporate Tax Law Also exempt are: Non-resident individuals who derive income only from the UAE and do not have a permanent establishment in the UAE ar

  What is the Accounting and Bookkeeping?   Accounting and bookkeeping are essential functions for any business operation. Accounting refers to the systematic recording, analyzing, and interpretation of financial data to provide useful information to business owners and stakeholders. Bookkeeping, on the other hand, involves the daily recording and organization of financial transactions to ensure accuracy and compliance with accounting principles.     The objectives of Accounting and Bookkeeping.   The primary objective of accounting and bookkeeping is to help businesses keep track of their finances, maintain records, and make informed decisions. Proper financial management provides insight into the profitability, financial health, and growth potential of a business.     Process of Accounting and Bookkeeping   The process of accounting and bookkeeping involves several steps, including recording financial transactions, posting entries into various accounts, reco