News

BDO releases IFR Bulletin 2021/02 - Hyperinflationary Economies for the period ended 31 December 2020

BDO has released IFR Bulletin 2021/02 identifying hyperinflationary economies based on the forecast data published by the IMF.The financial statements of an entity, with a functional currency being the currency of a hyperinflationary country, need to be restated in accordance with IAS 29...

IFRS 15 in Practice (2020/2021)

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...

IFR Bulletin: Amendments to IFRS 16 for COVID-19 Related Rent Concessions

IFRB 2020/10 - IASB Issues Amendments to IFRS 17, Insurance Contracts

Our response to COVID-19 and commitment to you

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 announces financial results 2019

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...

VAT and beyond- Navigating the GCC’s tax landscape

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...

BDO Tax Update – Volume II

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...

Ministerial Decision on Economic Substance Rule in UAE

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...