The UAE introduced Economic Substance Regulations (ESR) in 2019 to align with global standards set by the OECD and EU. These rules ensure that companies conducting certain activities in the
The UAE is one of the world’s most attractive destinations for entrepreneurs, offering 100% foreign ownership, world-class free zones, and a competitive tax regime. But with opportunity comes responsibility —
The UAE has long been an attractive hub for global investors due to its business-friendly regulations and tax incentives. But as the country continues to align with international tax and
In Art. 42 of the Regulations, financial services for the purpose of the exemption are defined as follows: a. The exchange of currency, whether effected by the exchange of banknotes or coins, by crediting
There are several benefits of creating a financial report for a firm. We can list them as follows: It improves the debt management of a firm. It helps in managing
Following are some of the advantages related to financial accounting 1. Systematic maintenance of Business Records Companies need to keep a record of all transactions incurred for business purposes. Proper books
There are several objectives of making the financial report of a firm. Few can be listed as follows: It provides information on the credit and investment decisions made by the
Financial reporting is the comprehensive account of all the business transactions, including expenses and income details. It shows the financial position of a firm over a specific period. It can
