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Corporate Tax Filing Mistakes in the UAE – And How to Avoid Them
UAE Corporate Tax compliance is no longer simply a matter of taking the accounting profit, applying 9%, and submitting a return.The UAE Corporate Tax return requires businesses to bridge the gap between accounting profit and taxable income. That bridge can involve realisation-basis elections, exempt income, related-party adjustments, interest limitation rules, tax losses, transfer pricing, free-zone rules and several specific disclosures. The Federal Tax Authority (FTA) itself states that accounting profit must be adjusted for items such as unrealised gains and losses, exempt income, intra-group transfers, non-deductible expenses, Related Party and Connected Person transactions, tax losses and available tax incentives.Here are 10…
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Corporate Tax Filing Mistakes in the UAE – And How to Avoid Them
UAE Corporate Tax compliance is no longer simply a matter of taking the accounting profit, applying 9%, and submitting a return.The UAE Corporate Tax return requires businesses to bridge the gap between accounting profit and taxable income. That bridge can involve realisation-basis elections, exempt income, related-party adjustments, interest limitation rules, tax losses, transfer pricing, free-zone […]
Due Diligence Before You Invest or Sell : What Gets Missed?
Business acquisitions and investments are often evaluated using financial statements, management reports and business valuations servies. While these provide valuable information, they rarely reveal every risk that may influence the success of a transaction. Likewise, business owners preparing to sell often focus on presenting strong financial performance. However, buyers do not invest based solely on […]
Common Corporate Tax Return Mistakes Businesses Should Avoid
The introduction of Corporate Tax represents one of the most significant developments in the UAE’s tax landscape. As the Corporate Tax regime continues to mature, businesses are expected to maintain robust financial reporting practices and ensure full compliance with the applicable legislation. Corporate Tax is a direct tax levied on the taxable profits of businesses […]
IFRS 18: A New Era of Financial Statement Presentation
Financial reporting is entering a significant new phase with the introduction of IFRS 18 – Presentation and Disclosure in Financial Statements. Effective for annual reporting periods beginning on or after 1 January 2027, IFRS 18 replaces IAS 1 and introduces a more structured approach to presenting financial performance. While IFRS 18 does not change how […]
IFRS for SMEs: Which Standards Actually Apply to Your Business?
For many small and medium-sized businesses (SMEs), accounting standards can feel like a maze of technical jargon, lengthy documents, and rules that seem designed for large multinational corporations rather than privately owned businesses. The good news is that you don’t need to master every accounting standard. If your business prepares its financial statements under IFRS […]
Forensic Audit: What Triggers One, and What Happens Next?
Most Investigative Audits Start with a Pattern, Not a Single Event When the term forensic audit is mentioned, it is often associated with major corporate scandals or high-profile fraud investigations. While these cases receive significant public attention, they represent only a small proportion of forensic audit engagements. In reality, most forensic audits begin long before […]
