2021 - Creative Tax & Accounting

28 Dec 21

Reverse Charge Mechanism In UAE: How Does It Work?

The UAE VAT Law states that the person making taxable supplies, i.e. the supplier, is responsible for levying, collecting and paying tax to the government. A registered supplier must charge VAT whenever he makes a taxable supply and pay VAT to the UAE government. The forward charge mechanism refers to…

22 Dec 21

The Holiday Season Is Here And so is The ESR Deadline

One of the newest topics in the UAE business world is the Economic Substance Regulations which went into effect on 1st January 2019. However, despite passing a good time, firms and businesses are left with a dilemma because of inconsistent filings and different approaches used by different authorities. Consequently, UAE…

25 Nov 21

Don’t Let UAE Business Regulations Catch You Off Guard

Dubai is a hub for aspiring businessmen and entrepreneurs. The exceptional tax regime makes it a haven for people looking to operate on a level playing field. However, the UAE compliance environment often presents a tricky landscape for businesses who are not familiar with them and can get caught up…

15 Nov 21

Clutch Names Creative Zone Tax & Accounting as UAE’s Top Accounting Firm

Keep your accounts in check with the best team out there. CreativeZone Tax & Accounting is a Dubai, United Arab Emirates-based business services company that provides end-to-end advice and support to businesses in the country. Since 2010, we’ve cemented our reputation in the business thanks to our clients’ wonderful support.…

08 Nov 21

Expert’s view: Everything You Need To Know About The Types of VAT in UAE

About the Author Mohamed Al Sayed is a Tax Agent with more than eight years of experience within the tax & accounting industry. Accredited by the United Arab Emirates Federal Tax Authority (FTA), Mohamed has successfully demonstrated his ability to resolve complex tax problematics for companies coming from various…

12 Oct 21

The Ultimate Guide to Accounting, Compliance, And Tax For Expo 2020 Participants

As the first mega-event to take place after the outbreak of COVID-19, all eyes will be on Dubai as it hosts Expo 2020 in October 2021. As investors’ confidence is likely to grow as a result of the success of Expo 2020, the world is hoping for a successful event.…

27 Sep 21

Why should you pay attention to AML compliance in UAE

Oversight of the UAE’s national risk assessment process is provided by the National Committee to Combat Money Laundering and Financing of Terrorism and Illegal Organizations (NAMLCFTC). In accordance with its obligations under the Financial Action Task Force Standards, the UAE identifies and assesses money laundering and terrorist financing risks. The…

12 Sep 21

8 Reasons Why you need Bookkeeping and Accounting Services for your business

The bookkeeping function is a crucial aspect of your business’s financial management. Despite this, some business owners prefer to take care of their accounts on their own. They not only lose valuable time, but they also increase the possibility of compliance issues that might ultimately cost their business. The responsibilities…

02 Jun 21

Do you Have to Pay Taxes in the UAE?

The United Arab Emirates is one of the leading financial hubs and a preferred destination for many businesses, supported by highly developed infrastructure and world-class amenities. One of the country’s main attractions is undoubtedly the absence of corporate taxes. The Federal Tax Authority (FTA) is responsible for issuing and implementing…

07 May 21

Anti-Money Laundering and Countering the Financing of Terrorism Law in the UAE

Contributing to global anti-money laundering efforts and combating financing of terrorism (AML/CFT), the United Arab Emirates (UAE) strives to fully implement the standards set by the International Financial Action Task Force (FATF). The UAE government passed a new regulation on Anti-Money Laundering (AML) and Combatting the Financing of Terrorism (CFT),…

Year: 2021