by Noorjahan S. Yargatti | May 9, 2020 | English Topics, Uncategorized
IAS 34 doesn’t clarify that which business entity should prepare an Interim Financial Report. IAS 34 applies when an entity that uses IFRS standards issues an interim financial report in its annual financial statements stating compliance with IFRS requirements. IAS 34...
by Noorjahan S. Yargatti | May 9, 2020 | English Topics, Uncategorized
VAT Group Registration means where two or more persons conducting a business will applied for Tax Registration as a tax group. For the formation of a tax group only the representative member of a prospective tax group can apply. To do so, the representative member...
by Rafaqat Ali Khan | May 7, 2020 | English Topics, Uncategorized
VAT Treatment of Director Services There should be 375000 AED taxable in previous 12 months or is expected to be in next 30 days for mandatory registration. The director can also register on voluntary basis if its services amount is exceeding 187500 AED. The director...
by Noorjahan S. Yargatti | May 6, 2020 | English Topics, Uncategorized
There are many reasons for non-payment like customer may end up his business, not satisfied by what he purchased, etc. in this situation supplier will face difficulties in filing VAT returns because of bad debts. The registered supplier charges VAT to the customer at...
by Rafaqat Ali Khan | May 6, 2020 | English Topics, Uncategorized
Following are the steps for VAT refund on new buildings. Create a new account of eservices on Federal Tax Authority FTA website; Login into your newly created eservices account; After login click on the new taxable person/special refunds button and then enter the name...
by Noorjahan S. Yargatti | May 6, 2020 | English Topics, Uncategorized
As an audit is an effort to check an entity’s statement of accounts, the audit report is outlined in the audit opinion. The checking of the books of accounts and other related information aids the auditor in forming an opinion which is the basis of the decision....
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