How to Apply for Tax Registration Number (TRN) in UAE

Do you know the difference between VAT and TRN? And you look further to register yourself as a taxpayer? Don’t worry; Shuraa Tax has your back. Like you, many entrepreneurs in Dubai and investors have no clue about getting a Tax Registration Number or TRN in Dubai. If you are running a foreign-owned business, you must understand the importance of value-added tax, VAT, and TRN.
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Countries With Zero Income Tax

Dreaming of keeping more of what you earn? Exploring countries with zero income tax or countries with no personal income tax might be your first step toward financial freedom. Around the globe, there are several tax free countries in the world that not only offer stunning landscapes and vibrant cultures but also attractive tax regimes.
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UAE VAT Changes: Key Amendments and Updates Explained

The UAE VAT Executive Regulations have undergone a significant overhaul, introducing a series of UAE VAT amendments that will significantly impact how businesses handle their tax compliance. These VAT changes in UAE, most of which come into effect from 15 November 2024, aim to simplify processes, provide clarity, and support evolving sectors like digital assets and financial services.
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What is Double Taxation Avoidance Agreement (DTAA)

Paying tax on the same income in two different countries can be a big burden for many people, especially for international investors and expatriates. This situation is known as double taxation. To help avoid this, countries around the world sign agreements called Double Taxation Avoidance Agreements (DTAA).
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Audit Services in Abu Dhabi - Shuraa Tax

When it comes to managing finances and ensuring compliance with UAE laws, businesses turn to reliable audit services in Abu Dhabi for expert guidance. These services are essential for maintaining accurate financial records, adhering to local regulations, and making informed strategic decisions.
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VAT Penalty Waiver in the UAE - Shuraa Tax

The VAT Penalty Waiver in UAE is an initiative by the Federal Tax Authority (FTA) allowing businesses to request a reduction or exemption from penalties incurred for VAT non-compliance.
This guide provides insights into the VAT Penalty Waiver in UAE, including its benefits, eligibility criteria, application procedures, and how professional tax consultants can assist in navigating this process.
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Understanding VAT Treatment for Charities in the UAE

VAT, or Value Added Tax, was introduced in the UAE in 2018 and is currently charged at a rate of 5% on most goods and services. While charities are traditionally associated with non-profit activities, their operations in the UAE are not automatically exempt from VAT. When charities engage in business activities—such as selling goods or services for a fee, they may be required to register for VAT, charge VAT on taxable supplies, and adhere to standard compliance obligations, including filing VAT returns and maintaining proper records.
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Capital Expenditure and Revenue Expenditure – Difference

Understanding how a business spends its money is crucial for long-term success. Among the most critical financial classifications are capital expenses and revenue expenses—two terms that often confuse even seasoned professionals. While both are essential to running and growing a business, they serve distinct purposes and have different impacts on financial statements.
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How to Apply for UAE VAT Reconsideration

But what happens if the FTA makes a decision you don’t agree with – like rejecting your VAT registration, imposing a fine, or assessing tax incorrectly? That’s where UAE VAT Reconsideration comes in. It’s a process that allows you to formally ask the FTA to review and possibly reverse a decision.
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Difference Between Internal and External Audit in UAE

Understanding the difference between internal vs external auditing is essential for UAE businesses aiming to maintain financial transparency, comply with regulations, and strengthen their internal controls. While both audit types focus on evaluating financial data and operations, they serve distinct purposes and are conducted by different entities.
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