UNITED ARAB EMIRATES
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Read our recent annual update on IFRS 15 in Practice to get insignts into the application of IFRS 15, including ‘BDO comments’ and views on complex application areas and commentary on recent IFRIC agenda decisions. While IFRS 15 has been effective for a number of years now, it remains a very...
As the novel coronavirus (COVID-19) continues to spread across the globe, I want to take a moment to let you know what BDO in UAE is doing to respond to this public health emergency. First and foremost, BDO in UAE’s number one priority is the safety and well-being of our people, clients...
BDO’s strategy accelerates the organisation’s financial growth year on year, with global revenues topping US$ 9.6 billion for YE 30 September 2019 10.1%* increase in global revenues – up from + 8.3% in 2018 - cements BDO’s position as fastest-growing global organisation in the profession over the...
The GCC has undergone various tax reforms in the last two years with the implementation of VAT, Excise Tax and the introduction of Country by Country Reporting (CbCr) and Economic Substance Reporting (ESR) in 2019.In this video, our Regional VAT Partner for UAE and Saudi Arabia, Brian Conn shares...
Since our last update, the FTA has released several public clarifications on VAT, issued a Cabinet Decision on the expansion of Excise Tax and introduced both Economic Substance Regulations and Country by Country Reporting.The most important of these updates are summarized below:VALUE ADDED TAX...
Following the release of Cabinet Decision No. 31 on Economic Substance requirements (“ESR”) earlier this year, the UAE Ministry of Finance has now published Ministerial Decision No. 215, which provides guidance on the implementation of the ESR test.Key points from the guidance:Licensees: As per...
UAE recently published the Economic Substance regulations which require certain businesses to demonstrate that they have genuine substance in the UAE. They also bring new reporting requirements. Non-compliance may result in penalties, loss of tax treaty reliefs and revocation or non-renewal of...