When most people think of accountants or auditors, they picture calculators, spreadsheets, and tax season stress. But behind every balance sheet is something far more human: trust, guidance, and peace of mind. At AFS Auditing, we believe that accounting isn’t just about numbers—it’s about people. 1. The Unseen Value of Good Accounting A skilled accountant doesn’t just crunch numbers. They help small businesses survive tough quarters, prevent costly mistakes, and find growth opportunities. Good financial insight often means the difference between staying afloat and closing shop. It’s
In the UAE, complying with Value Added Tax (VAT) rules isn’t just about submitting accurate returns — it’s also about being fully prepared for audits conducted by the Federal Tax Authority (FTA). Whether you run a small business or a large organization, readiness for a VAT audit is key to avoiding penalties and maintaining business continuity. At AFS Auditing, we specialize in helping companies stay VAT-compliant and audit-ready. Here’s a quick guide on what to expect and how to prepare. What is
In the dynamic business environment of the UAE, having access to both auditing and accounting services is not just beneficial—it’s essential. Whether you are a startup in Dubai, an SME in Sharjah, or a multinational operating across the Emirates, combining accurate accounting with regular auditing keeps your business financially healthy and legally compliant. At AFSA, we provide fully integrated services that help companies maintain transparency, improve performance, and meet all regulatory
Dubai’s Virtual Asset Regulatory Authority (VARA) is a transparent and trusted guiding authority in the world of virtual assets. Established in March 2022 by Law No. 4 of 2022, VARA is responsible for regulating, supervising, and overseeing virtual assets and their activities in all zones across the Emirate of Dubai, including Special Development Zones and Free Zones (excluding the Dubai International Financial Centre). VARA has the authority to modify, refine, adjust, or expand its regulations as needed to adapt to
Setting up a business in the United Arab Emirates (UAE) can be an excellent opportunity for entrepreneurs looking to expand their operations in the Middle East. The UAE offers a dynamic business environment, a strategic location, and a supportive regulatory framework. In this blog post, we will discuss the key steps involved in setting up a business in the UAE. Step 1: Choose a business activity and legal structure. The first step in setting up a business in the UAE is to decide
A tax residency certificate in the UAE is a document that confirms the tax residency status of an individual or a company in the UAE. The certificate is issued by the UAE Ministry of Finance and is used to claim tax benefits under the double tax avoidance agreements (DTAA) that the UAE has signed with other countries. Here are some of the uses of a Tax Residency Certificate from the UAE: 1) Avoiding double taxation: The TRC allows an individual
Federal Decree-Law No. 18 of 2022 – Issued 26 Sep 2022 (Effective from 1 Jan 2023) January 1, 2023, will mark a significant date for the UAE’s Value-Added Tax (VAT). During this time, the country will have completed five years under its tax regime, and the first major changes to VAT laws will take effect. Listed below are the changes that all business owners should be aware of: Article 1 – Definitions New definitions are added for Relevant
Over the past several decades, money laundering has become an increasingly prevalent issue. Both financial institutions and governments are constantly looking for new ways to fight money laundering, and several anti-money laundering policies have been put in place to help this effort to the maximum. Anti-money laundering laws entered the global arena soon after the Financial Action Task Force was created. The FATF was responsible for the creation of most anti-money laundering standards, and it made a framework for countries to
Non- UAE citizens can fully own businesses in the Country – A law that is going to boost the economy. The UAE has announced changes to laws surrounding business ownership and commerce in the country. This has been implemented this year to make the UAE more expat-friendly and to open up the country to business and foreign investment to boost the local economy. President HH Sheikh Khalifa bin Zayed Al Nahyan has issued a decree overruling foreign ownership
An acquisition is a corporate transaction where a company purchases most or all of the other company’s shares to gain control over the acquiring company. The acquisition is a good strategic move if proper planning and analysis are done. The acquisition is a big-budget process than starting from scratch. Even though the acquisition is costly, there are many benefits like getting financial assistance, acquiring valuable legal rights, accessing a wider customer base, obtaining human resources, etc. The following is the summary
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