by Syed Nasr | Apr 18, 2020 | English Topics, Uncategorized
If any payment does not relate to a supply of goods or services then the payment is not subject to VAT. It is to determine by the tax payer whether the payment is against any supply, whether the payee has provided anything in return of the payment. If the payment is...
by Noorjahan S. Yargatti | Apr 18, 2020 | English Topics, Uncategorized
IFRS are given by the International Accounting Standards Board (IASB). They indicate how organizations must keep up and report their records, characterizing sorts of exchanges and different occasions with monetary effect. IFRS were set up to make a typical bookkeeping...
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...
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