Rewind Consultancy

  Dubai, UAE, is no different from any other country in the world when it comes to conducting tax audits. Tax audits have become a significant aspect of business compliance and transparency with regard to finances. The UAE tax regime is ever-developing; hence, companies operating here have to learn the merits and demerits of undergoing the tax audit and be always prepared with compliance measures. This blog covers a holistic understanding of the procedure and preparation of tax audits in Dubai, the UAE, to make your business document compliant and free from stress. The Tax Audit Process in Dubai, UAE The FTA employs systematic methodologies for the conduction of tax audit, with the ultimate goal being fairness and accuracy. We will now have a glance at the steps involved: 1. Notice of Audit Most tax audits are preceded by advance notification to businesses by the FTA. The specific date, time, and scope of the audit are notified to the entity ahead of time to give sufficient lead ti...

  Business in UAE will be another lifetime revolution when the VAT introduces it. In fact, this is the most essential and promising line in the aspect of the UAE’s economy, besides which it also constitutes a great requirement for understanding and avoiding penalties regarding VAT in businesses. Non-compliance with VAT laws renders a severe penalty on businesses alongside loss of reputation and possibly a financial toll. This blog, therefore, becomes one of the good sources through which one could understand VAT penalties as applied to businesses in the UAE, more so on the aspect of VAT fines in Dubai and VAT penalties across the UAE. What is VAT, and Why Should One Comply? Value-Added Tax is the tax levied for consumption purposes. This tax has been imposed on goods and services taken through various stages of production and distribution. It came into existence in the UAE as of January 1 of this year at the first standard rate of 5%. Only a few goods and services are exempted and ...

Establishing a business in the UAE has got to be one of the most thrill-infused experiences an entrepreneur and business can imagine while putting footprints in one of the most diverse markets of the world. The location advantages, business-friendly economic policies, and strong structures all indicate why this is a perfect place to form any business venture. This must-read guide will take you through everything you have to know about company setup in UAE, specifically Dubai company formation, as well as business setup in the mainland. Why Establish Your Company in the UAE? This is a land of great benefits for every investor. Here are the reasons why it is still drawing investors worldwide: 1. Strategic Location The UAE offers unsurpassed accessibility to the international markets: Located at the crossroads of Europe, Asia, and Africa, it puts businesses among the most international customers in the world. 2. Business-Friendly Policies The very good legislation by the UAE Government, w...