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Understanding UAE E-commerce Accounting: Guidelines & Regulations

Accounting for e-commerce businesses in UAE: What You Need to Know Accounting for e-commerce businesses in UAE is growing rapidly, and with it, the need for businesses to understand the specific accounting requirements for e-commerce transactions. This article will provide you with an overview of the key accounting concepts and issues that you need to

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How to Account for Cryptocurrencies in Financial Statements

Account for Cryptocurrencies in Financial Statements Cryptocurrencies are a new and emerging asset class, and the accounting treatment for them is still evolving. There are a number of different accounting standards that can be used to account for cryptocurrencies, and the best approach will vary depending on the specific circumstances. In this article, we will

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Navigating VAT Registration in the UAE: A Vital Business Imperative

Value Added Tax (VAT) has become an integral part of the United Arab Emirates’ (UAE) economic landscape since its introduction in 2018. This indirect tax system has ushered in a new era of fiscal responsibility for businesses operating in the UAE, requiring them to register, account for, and pay VAT on eligible transactions. VAT registration,

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VAT in the UAE

Value Added Tax, commonly known as VAT, is a levy on consumption. Businesses gather VAT from their customers and subsequently transfer it to the government. VAT in the UAE was implemented on January 1, 2018, at a rate of 5%. The VAT registration threshold is AED 375,000 per year. This means that businesses with a

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