Since the introduction of Value Added Tax (VAT) in the UAE, compliance has become essential for all businesses. Whether you are a startup in Dubai or an SME in Abu Dhabi, understanding the VAT registration process can save you from costly penalties. Who Needs to Register for VAT? Mandatory Registration:
In June 2023, the UAE introduced a 9% corporate tax on business profits exceeding AED 375,000. This shift aligns with international standards and impacts nearly all businesses operating in the UAE. Who Is Affected? All mainland companies. Free Zone companies, unless they qualify as a Qualifying Free Zone Person (QFZP).
Bookkeeping is often overlooked by SMEs, yet it’s the foundation of financial stability. Poor records lead to cash flow problems, VAT filing errors, and compliance risks. Common Mistakes Not Reconciling Accounts Monthly → leads to missed expenses and inaccurate reporting. Mixing Personal & Business Expenses → a common issue for
Managing payroll in the UAE isn’t just about paying salaries—it’s about complying with the Wage Protection System (WPS) and UAE labor laws. Mistakes can lead to fines and employee dissatisfaction. Payroll Challenges SMEs Face Calculating end-of-service benefits. Handling allowances, overtime, and deductions. Submitting salaries on time through WPS. How Rovent
