UNITED ARAB EMIRATES
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The Federal Tax Authority (FTA) has issued a VAT guide for the automotive sector. It is one of the most detailed guidance notes issued by the FTA to date and is essential reading for any business connected with the UAE car industry. The guide includes sections on the sale of both new and used...
The Federal Tax Authority (FTA) has issued a press release confirming that taxpayers are now able to apply for a reduction or exemption from tax penalties.To qualify for a reduction or exemption, the taxpayer must:have an excuse acceptable to the FTA;hold evidence to support the excuse, and the...
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...
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...