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Qualifying entities in the country’s economic free zones will be subject to a 0 per cent rate, even when dealing with the mainland on certain strategic activities such as manufacturing, goods processing and logistics services.

Corporate tax: UAE exempts free zones from business tax The UAE’s Ministry of Finance said qualifying entities in the country’s economic free zones will be subject to a 0 per cent rate

This transitional rule ensures only gains of that business that are attributed to periods after the corporate tax law is effective are taxed.

Corporate tax: M*F issues transitional rules for businesses The decision applies to immovable property, intangible assets, financial assets and financial liabilities held by businesses before the corporate tax law comes into effect

KOMANDOOR & CO LLP - a firm of Chartered Accountants (https://komandoor.com) is recruiting Audit Assistants for its Bahrain Branch Operations.

Responsibilities

Check and verify accounting books and records in conformity with Accounting Standards
Review and recommend changes in internal controls
Ensure compliance with regulatory guidelines, International Standards on Auditing and International Financial Reporting Standards.

Qualifications

Qualified/Semi Qualified Indian Chartered Accountants with 2-5 years' experience in a Practicing Firm.

Excellent verbal and written communication skills.

Suitable candidates mat send their CVs to: [email protected]

“When registration opens, priority will be given to companies and businesses that have a financial year starting on June 1, 2023,” the FTA said on Sunday.

Quantum Auditing

UAE opens corporate tax registration for certain business categories Levy will come into effect for companies whose financial year starts on or after June 1

Updates to the UAE Labour Laws last year saw an announcement that gratuity will not be forfeited if you are terminated through ‘gross misconduct’ which was a big change!
A full-time employee in the private sector who has completed a year or more of continuous service is entitled to an end-of-service gratuity at the end of their service. However, unpaid leave days are not included in calculating the gratuity.
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The adoption of the ‘financial reporting ecosystem’ model makes the UAE one of the first countries in the world to adopt this advanced model.

UAE attaches great importance to accounting, auditing profession The Ministry of Economy held a media briefing on the updated implementing regulation of Federal Law No (12) of 2014 regarding Reorganization of Accounts Auditors Profession,

UAE to introduce 9% corporate tax on business profits from June 1, 2023 Statutory tax rate of 9% makes it 'among most competitive' in world, says finance ministry