2023 – Alforel

Year: 2023

VAT on Furniture in Dubai

What Should You Know About VAT on Furniture in Dubai?

What is the UAE VAT? VAT is an indirect tax that is applied at every point in the supply chain for the provision of goods and services. While registered taxpayers collect the tax on behalf of the government, the end consumer is responsible for paying the VAT. What are the basic rules of VAT application […]
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Setup Business in Dubai

Setting up a firm, while it may seem like a lengthy process, can be completed in a few weeks if done correctly. Locate Your Enterprise Activity: When launching a firm, it’s critical to initially ascertain the type of your enterprise. There are more than 2,100 business activities to pick from in the industrial, commercial, professional, […]
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No VAT on Buying Plots in Dubai

Good news for property investors! If you’re eyeing a plot of land in Dubai, you won’t have to worry about Value Added Tax (VAT). The UAE’s VAT regulations have a specific exemption for the supply of bare land. This means whether you’re buying or leasing a plot, you’re free from VAT obligations. However, it’s essential […]
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Customised Services in Dubai

Customised Services in Dubai

What are some rules of accounting in Dubai? After the end of the company’s fiscal year, companies must keep a record of accounts at their head office for at least five years. A ministerial decision’s regulations allow the companies to retain an electronic copy of every record and document they keep. In order to present […]
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Company liquidation

Company Liquidation services in Dubai

How does liquidation work? In the fields of finance and economics, liquidation refers to the process of ending a business and dividing its assets among interested parties. It is a common occurrence when a business becomes insolvent, which means it is unable to make its required payments on time. Upon the closure of business operations, […]
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ESR Reporting

ESR Reporting in Dubai

What is an ESR report? The Economic Substance Regulation requires enterprises that engage in relevant activities to satisfy specific requirements in order to pass the Economic Substance Test. Companies should first file their taxes and then submit the Economic Substance Report to the appropriate regulatory body. It is recommended to use the services of certified […]
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Auditing services in Dubai

Auditing services in Dubai

What do you understand by auditing services? The word auditing comes from the Latin verb “audire,” which means “to hear.” Historically, auditors would listen to officers and other authoritative figures to make sure their statements were true. Over time, auditing’s function grew to include written report verification, particularly for financial records belonging to both individuals […]
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Corporate Tax Service

Corporate Tax services in Dubai

What do you understand by corporate tax? A tax on a corporation’s profits is known as a corporate tax. Revenue less cost of goods sold (COGS), general and administrative (G&A) costs, selling and marketing, R&D, depreciation, and other operating costs comprise the company’s taxable income, upon which taxes are paid. Every country has a different […]
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VAT services in Dubai

What do you understand by VAT services? Consumption is used to calculate VAT rather than income. VAT is imposed equally on all purchases, as opposed to a progressive income tax, which imposes higher taxes on the wealthiest. A VAT system is in place in more than 160 nations. It is not without dispute, though. VAT […]
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