The UAE is an attractive home for countless e-commerce businesses. There has been rapid growth in the e-commerce sector in the last few years. With the thriving digital economy and rising tech-savvy population, there is a need for proper accounting to ensure compliance. Proper accounting will also lead to the…
The year’s end is the most critical time for an accounting professional. Why is it so? This is because it is the time to produce financial statements for the entire year. The three most common financial statements are the balance sheet, income statement, and cash flow statement. The process of…
Introduction: Running and growing a business are two of the most important concerns of a small business owner. As a result, it is critical for business owners to devote their valuable time to tasks that result in the enterprise’s smooth operation and growth. Small businesses must account for every transaction…
The introduction of Value-Added Tax (VAT) in the UAE is part of the government’s strategy to diversify its revenue source, secure its national fund for the improvement of public services, and to reduce its dependence on oil. The Federal Tax Authority (FTA) released a statement confirming that the number of…
Have you ever felt that you might have been wrongly penalised? Are you not satisfied with the Federal Tax Authority (FTA) decision? If yes, then CREATIVE ZONE Tax & Accounting can help you file a reconsideration form to request a review of the FTA’s decision. Although FTA has multiple levels…
The ACCA Approved Employer Programme recognises employers’ high standards of staff training and development. You have proved your organisation is committed to ensuring ACCA students, affiliates and members have the right skills, ethics, and competencies to add value and drive the business forward. CZ Tax and Accounting FZ LLC has…
A few months before the introduction of Value Added Tax (VAT) in the United Arab Emirates (UAE), analysts have streamed down the implications and impacts of VAT on primary areas such as the government, general public, and businesses. Among these sectors, the clear-cut beneficiary is the government. The country has…
After more than a year of the UAE Value-Added Tax (VAT) implementation, it’s now time to determine whether your company needs to deregister from VAT, whether you may deregister or continue being registered with the Federal Tax Authority and keep filing your VAT returns. Deregistration from VAT Deregistering from VAT…
The role of bookkeeping is equally important as running a business on a day-to-day basis. Perhaps, even more of a crucial role especially for startups that are still under a controlled and limited budget to work on. Not all entrepreneurs realize that organized financial records are an indispensable aspect of…