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The UAE has introduced Federal Decree-Law No. 41/2023 to regulate the accounting and auditing profession, replacing Federal Law No. 12/2014. This new law aims to improve corporate governance standards and Anti-Money Laundering (AML) compliance.

The implementation of corporate tax in the UAE has brought about significant changes in the business landscape, making accounting practices more critical than ever before.

Even in a tax-free environment, your accounting matters. Accounting in the UAE is not triggered by tax filing requirements but is more of a corporate law requirement.

To date, those seeking to conduct due diligence in relation to a UAE LLC have had to rely heavily on cooperation from the target company and its management, as publicly accessible information is very restricted.

The client had resources who were adept with the basic knowledge on the accounting standards; however they were not updated with the latest amendments and issues that were introduced in the revised standards.

Review of accounting policies and financial statements to ensure they are aligned with the best practices.

Over the past eight months I've been working with insurers in the Middle East on their IFRS 17 implementation projects and I have also been lucky enough to embark on a new career opportunity having now relocated to Dubai ...

When it comes to mergers and acquisitions, due diligence is not just a legal obligation or a formal procedure. It is a crucial step that can make or break a deal...

The Federal Tax Authority (FTA) has issued a comprehensive guide on "Determination of Taxable Income," which provides an overview of the adjustments required to be made to the accounting...

TMF UAE is now an accredited tax agent and can act as a tax representative for clients doing business in the Emirates.

Find below the list of required information that is needed for the business and for each shareholder, in order to open a bank account in Dubai:

The client's UAE company was set up in 2006 and were facing challenges with its finance processes. There were issues with respect to reconciliations, accounts receivables and payables, book-keeping, reporting, etc.

The UAE's Federal Decree-Law No. 32 of 2023 on Finance Lease (New Finance Lease Law), effective from 25 September 2023, replaces the 2018 Finance Lease Law. The defining criterion for a finance lease.

Many Free Zone Companies incorporated in DMCC, DWC and JAFZA are leaving themselves exposed to potential fines and the non-renewal of their trading licence for failure to comply with one particular regulatory requirement.

The UAE's commitment to sharing financial data on individuals and entities under Common Reporting Standards (CSR) has been furthered reinforced by the Insurance Authority Board of Directors Decision No. 32 of 2017...

The Abu Dhabi Global Market (ADGM) Registration Authority has issued Final Notices imposing financial penalties on certain registered companies with them and their directors for failing to comply...

FTA issues Public Clarification on Concerned Services - Accounting for Output Tax, issuing Tax invoices, and Input Tax recovery.