by Noorjahan S. Yargatti | Apr 18, 2020 | English Topics, Uncategorized
To avoid the hefty penalties by FTA its very important to file the returns for your business timely and accurately. Today almost more than 180 countries have accepted the procedure and this got spread worldwide at a faster pace. The middle east countries, specially...
by Rafaqat Ali Khan | Apr 16, 2020 | English Topics, Uncategorized
There are five simple steps aimed at reducing ambiguity around the timing and amount relating to the recognition of revenue. The five steps are below Identifying the contract. Identifying the performance obligations in the contract. Determining the contract price....
by Syed Nasr | Apr 16, 2020 | English Topics, Uncategorized
VAT on Education Sector in UAE can be Standard-rated, Zero-rated or Exempt. Zero-rated supplies If both the curriculum and the educational institution are recognized by the competent federal and local government then the supply is considered as zero rated. Further we...
by Rafaqat Ali Khan | Apr 16, 2020 | English Topics, Uncategorized
Income Statement One of the change is sub operating profit as part of the development of its proposals, the IASB sampled 100 sets of company financial statements. Of these, 63 showed some form of operating profit subtotal, and the operating sections will only include...
by Noorjahan S. Yargatti | Apr 16, 2020 | English Topics, Uncategorized
As per UAE Vat Law Every taxable person should keep the record of documents like , annual accounts, general ledger, purchase day book, invoices issued, invoices received, credit notes, debit notes, VAT Ledger etc. Under the UAE VAT law the books of...
by Syed Nasr | Apr 16, 2020 | English Topics, Uncategorized
The floorspace method deals with supplies (sales and rental) of commercial and residential properties, including real estate companies. This method calculates the apportionment percentage for residual input tax by identifying the proportion of the floorspace used for...
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