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Audit Firms

Procedure for Filing VAT Return

The Federal Tax Authority (FTA) has outlined a simple four-step online procedure allowing businesses to easily submit their tax returns via the e-services portal on the FTA website. The FTA launched a comprehensive awareness campaign titled ‘Filing Returns in 4 Steps’, covering social, digital and other media channels. The campaign targets businesses registered for value-added tax (VAT), introducing them to the online system that the FTA had launched. From the beginning of February 2018, the system has been open to receiving tax returns for the first tax period ending on January 31, 2018 for some businesses which are required to submit their returns no later than February 28, 2018. Tax returns can be submitted 24/7 through the e-services portal on the FTA website, which...
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Accomplishments the result of vision of wise leadership

The UAE has ranked first in 11 global competitiveness indices among six different competitive reports in 2017- 2018. The competitive reports include those issued by the World Economic Forum (WEF), the World Bank Group (WBG), the European Institute of Business Administration (INSEAD) and the International Institute for Management Development (IMD). These indices are part of the UAE Government’s objectives outlined in the ‘Project Number One’ initiative for 2017, and are in line with the UAE’s commitment to enhance the country’s competitiveness levels globally. The latest recognition received by the UAE was in January when it became the only country form the Middle East to figure among the top 20 nations in the 2018 Global Talent Competitiveness Index, and...
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UAE NON-OIL SECTOR RECORDS STRONGEST UPTURN IN OUTPUT IN 18 MONTHS

Boosted by higher oil prices, business conditions in the UAE’s non-oil private sector continued to gain momentum in February as output and new orders accelerated. “Strong demand conditions and a favorable economic environment encouraged companies to scale up purchasing activity and hire additional workers over the month. On the price front, average selling prices rose for the first time in almost one-and-a-half years as firms passed on to client’s part of their additional cost burdens. The seasonally adjusted Emirates NBD UAE Purchasing Managers’ Index, which covers manufacturing and services, rose to 56.0 in February from 55.3 in January. The 50-point level divides expansion from contraction. The rise in the UAE PMI to the highest level since September 2015 suggests...
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