In this blog post, we'll explore the key amendments under the New ESR you would need to know about , outline what you'll expect next, and share to ensure you're prepared.

Declaration of Sole Beneficial Ownership in UAE

The United Arab Emirates has recently replaced Cabinet Decision No. 34 of 2020 with Cabinet Resolution No. 58 of 2020 on the Control of Actual Beneficiary Procedures ('Decision'). This policy came into force on 28 August 2020 and the date for filing is 27 October 2020 or earlier.

There are different laws in the UAE that allow borrowers to recover debts from loan holders who do not make payments. In the case of liquidated company debts, liquidators are expected to resolve debts during the process. Read on to get advice on how to improve the practices of debt recovery in such situations.

In Dubai, accounting outsourcing firms provide more advantages than offering insights into the food and hospitality market. In order to help the business, develop and succeed in a highly competitive market in the UAE, finance experts should recognize changes.

Get to know how companies can find the correct auditors and accountants, and how they can handle the company's money requirements.

Sales are essential revenue sources for businesses that enable workers to be compensated and operations to be improved. Without collection strategies, receivable accounts can go under fire, impacting the finances of the business.Having a structured and good collection plan ensures that clients make payments and the receivable department of accounts is up-to - date.

Almost every business deal with payables and receivables from accounts, which is why a comprehensive and professional accountant is often necessary. You have the choice to outsource this operation, even for account payables to be processed and settled. Read on to learn more about the outsourcing of payable accounts.

Much like any other corporate venture, managing a food business needs financial supervision. As simple as it seems, it is not something to learn instantly to increase the sales while lowering overall costs. This is why corporations need to outsource accounting services in order to handle the money side of the business efficiently.

Best methods for debt collection for companies in Dubai

One of the most difficult components of the business practices of any lender is debt collection. No matter how thorough you are in determining the prospective debtor 's credibility, if they do not have the capacity or desire to do so, it will be hard to collect money from them

What to check for in the internal control checklist for restaurants

Managing a restaurant depend on a variety of variables. A proposal which centers on the successful implementation of internal controls in these establishments has been implemented by Abu Dhabi. In terms of their restaurant internal control checklist, companies in the GCC who want to be competitive can check out this post.

What you need to learn about the recovery of debt in the UAE

A new insolvency legislation has been adopted by the United Arab Emirates (UAE) that explicitly prohibits a debtor 's failure to repay their loans. It also imposes lower debt   restructuring charges for debtors. Will you like to understand what this means for theUAE debt recovery? Continue to read.

Why firms ought to get Internal Audit Services in Dubai 

Internal auditing is a perfect way of assessing the internal management and accounting operations of your organization. In reality, member companies of the Dubai Multi Commodities Centre (DMCC) are obliged to send audits. It is also required for some Free Zone companies to file audited financial statements

Factors for Services Outsourcing Cash Flow Management

Because of the ongoing threat to public health, small to medium-sized firms in the United Arab Emirates have been having problems with cash flow management in recent times. You might even want to outsource cash flow management services if you are enduring such problems.

The core of every organization is bookkeeping. In order to track your cash flow, taxes, investments, and the reliability of your business, successful bookkeeping is essential. It allows you to keep track of your business goals in order to remain on the path of long-term business priorities. Building strong bookkeeping habits makes it easier for you to keep an eye on the various aspects and dynamics of your organization.

The COVID-19 pandemic has rattled the global trading infrastructure's very foundations. At least 21,000 more firms have collapsed this year than last March, and many are on the brink of bankruptcy. Today, in the trade market, the main challenge is how to launch business improvement in the midst of the pandemic. Business is not only selling the goods, but also ensuring that, regardless of the conditions that may arise from economic instability, the company retains its current concern.

The most relevant accounting services cater to various types of businesses based on their needs and business phases, helping them expand and remain compliant with HMRC regulations. accounting services are designed to maximize company growth while retaining financially structured and sustainable business owners. From the implementation of accounting applications to contractor accounting services, bookkeeping, accounting, tax, and company advice.

Accountants are the foremost trusted advisors of a business; this suggests becoming one isn't simple. There are many questions asked about an accountant. A few of those are questions like how to hire one? and what is an accountant’s role?

Managing your finances manually can be difficult as your business grows. From doing inventory and accounting to human resources and customer relationships, manual solutions may not be the most efficient. You might want to implement an ERP system. Before doing so, you should consult accounting firms in Dubai. Here’s why. 

Outsourcing accountants and auditors in Dubai is recommended for startup companies, small and mid-size businesses to cut the expenses. While there’s a need to comply with internal auditing, tax requirements, and keeping books, hiring an in-house accountant or auditor is costly. That’s why, it is recommended for businesses to start small, and outsource professionals.  

Starting a business needs a lot of work, from coming up with idea and evaluating its feasibility to executing your strategy. When doing so, you should inspect every side of your potential company, especially the financial part. This is why you should consult bookkeeping and accounting firms in Dubai.  

Managing a business can be challenging as you are tasked with making managerial decisions. Some are even faced with matters involving the finances of the business such as salary, acquisition and regular expenditure. Because of this, it is important to seek management accounting services in Dubai. 

In any business organization, every employee is on the payroll, which means that they are human resource personnel who regularly receive salaries and wages. The HR manager usually monitors the payroll will the help of an accountant, whether in-house or from third-party

There are a number of reasons companies need to file tax returns, and make payments on income. This isn’t just about following the laws but also becoming responsible and getting out of trouble over time. Mistakes and delays on the filing have consequences, and sometimes, businesses suffer because of the hefty penalties and fines.  

Starting a business in Dubai has higher value, as it has a tax-free business environment, and a known destination of wealthy individuals. Because startup companies will be expanding from the ground up, it is crucial to consult accountants and auditors in Dubai.  

Stressing over missing records and receipts? Unsure on where your profits are going? As your business grows, so do your financial demands. With this, you might to consider getting help from bookkeeping and accounting firms in Dubai. 

Markets and industries change over time. In turn, businesses that operate under them should adapt to changes in order to remain competitive. As a business owner, one of the things you can change is your structure and you will be needing the help of accounting firms in Dubai. 

Successful businesses are bound to get to the next level, which is incorporation. This is the process of registering the business as a corporation, which means that it will be reaping the benefits of being a corporation. Accounting services in Dubai play an important role in this process.

Check out the procedure of how to file a VAT Return in the UAE. Read on to get some professional expert guidance on how to claim your tax back in the UAE

There is a wide range of CFO services offered by accounting firms to companies on either part time or short time basisin the UAE. Read on to learn about the most popular outsourced CFO services in the country. 

The UAE government has recently introduced economic substance regulations, and as a result, all UAE businesses that may be subject to these regulations should be prepared to take action and ensure compliance. Read on to learn more.  

A five-year forecast is an essential tool not only for new enterprises but also for rapidly expanding growing businesses in Dubai. We address what a 5-year forecast is, why a financial forecast is relevant or if your business needs a financial forecast.

From our experience in searching CFOs across different sectors in the  UAE, we understand that this position is one of the most complex. Read on to find out about the immediate benefits  of  picking a good CFO for the company.

Read our new blog article to find out why a part-time CFO is often a better hire for small- or mid-sized companies and how this can add value to your business.

A virtual CFO provides high-level financial strategy services for businesses in the UAE. A virtual CFO is often a better hire for small- or mid-sized companies since they can benefit from the high-level financial strategy of a CFO without the expensive in-house costs.

Got questions about liquidation of company in Dubai & deregistration of company  procees in the UAE? We answer the most common ones in this blog post.

FTA has deferred the Excise Tax return submission deadline for March & April to May 17, 2020, to help businesses affected by Covid-19 and lockdown in the UAE.

Companies are required to record returns and submit VAT return filings periodically. Corporations are expected to file returns quarterly or monthly depending on the company’s turnover. 

With the announcement of the introduction of VAT in UAE from 1st January 2018, the companies must register themselves as per the standards specified in the new tax regime. Read on to find out the differences between voluntary and mandatory registrations.

Check out the procedure of how to file a VAT Return in the UAE. Read on to get some professional expert guidance on how to claim your tax back in the UAE. 

The UAE recently announced a Value-Added Tax (VAT) of 5% however travellers to Dubai can still revel in Tax-Free buying. Read on to find out everything you need to know about vat refunds for your shopping in the UAE. 

In the GCC’s turbulent and competitive market, the ability to negotiate effectively comes as a critical ingredient that will ensure your business success. From acquisitions to vendor pricing, there comes a range of areas that necessitate the need for talented negotiators and accounting experts in Dubai.

At the core of these thriving corporations are accounting and bookkeeping services in Dubai, who not only handle and record day-to-day financial transactions but also analyze and create financial statements to keep track of the business’ overall health and trajectory.

 Read on to find 10 reason experienced and skilled financial managers are essential in ensuring the success of their venture. Also,you will find out why accountants and bookkeepers in Dubai, can help minimize the cost of your operations and improve your revenues. 

There are more than half a million registered business in the United Arab Emirates (UAE). These companies, no matter the size, need accounting and bookkeeping services in Dubai to understand the numbers and make strategic decisions. Read on.

Introduced by the government in 2018 in a bid to diversify the region’s economy, the new tax has remained to be one of the hottest topics in today’s news. Read on to get some clarity about the VAT in the UAE.

When it comes to running a business, there comes a ton of possible bookkeeping mistakes that could significantly affect a company’s overall performance. Read on to find more.

If there is one thing companies absolutely need, it is accounting and bookkeeping services in Dubai. Find out why business owners need to keep track of their financial inflows and outflows to the laws and taxes. Read on.