If your input tax for a tax period exceeds your output tax, you may request a VAT refund from the Federal Tax Authority (FTA).This guide explains how to submit a VAT refund claim through VAT Refund Form 311, what details and documents are required, and what to expect after submission. Who Can Submit a VAT […]
What is VAT Deregistration? VAT deregistration is the formal cancellation of your VAT registration with the Federal Tax Authority. Once deregistration is approved, your entity’s VAT registration details are removed from the FTA register and you are no longer required to file VAT returns (monthly or quarterly) from the effective deregistration date. Who Needs to […]
For professionals in accounting or finance, certain Excel functions are used daily to streamline tasks such as reconciling, reporting, and forecasting. These functions w ork across Excel versions and simplify common processes. This article outlines each function, explains how to use it, and provides practical tips with real-world examples. 1. AGGREGATE — Summarise While Ignoring […]
The introduction of Corporate Tax in the UAE has transformed the financial and compliance landscape for businesses. With the Federal Tax Authority (FTA) actively monitoring compliance, every Chief Financial Officer (CFO) must be fully aware of critical deadlines, filing requirements, and penalties to avoid costly mistakes. In this blog, we will cover the key corporate […]
This guide I’ll walk you through downloading, installing and activating QuickBooks Desktop so you can get up and running fast. Whether you’re installing QuickBooks Pro, Premier or Enterprise for the first time or reinstalling it on a new machine, these steps are the same and designed to make the process smooth. Outline Preparation: System Requirements […]
The Federal Tax Authority (FTA) frequently identifies recurring VAT non-compliances during audits. This guide outlines the most common issues, explains the applicable rules with examples, and provides practical steps organizations can take to ensure compliance. Why this matters? Since VAT was introduced on 1 January 2018, VAT law, guidance and FTA activity have evolved rapidly. […]
Running a business in the UAE comes with exciting opportunities—but it also brings financial responsibilities that require time, attention, and expertise. From staying compliant with VAT regulations to ensuring accurate bookkeeping, managing accounts in-house can be costly and overwhelming. That’s why more businesses today are turning to outsourced accounting services as a smarter alternative. 1. […]
This article is on the most common VAT mistakes we see in the UAE and how to prevent or correct them. Over the last decade, we’ve helped clients with VAT registration, returns, audits, recoveries, and voluntary disclosures. Below are the issues that repeatedly cause problems, the legal expectations, and simple controls you can implement today. […]
The example dataset includes customer names, units sold, and invoice amounts across thousands of rows (about 7,000). You’ll learn a no‑formula approach to get a unique customer list, a SUMIF method using named ranges to total values per customer, and a PivotTable method that does it in seconds. When to use each method Advanced Filter […]
In the UAE, small and medium-sized enterprises (SMEs) form the backbone of the economy. These businesses play a vital role in driving growth, innovation, and employment. However, many SMEs face challenges in managing their finances effectively. This is where a financial audit can make a significant difference. With different departments and service providers handling multiple […]