Kitaab Insights

Tips 101- Best financial practices and hacks for business growth

Accounting Bookkeeping VAT Corporate Tax Start-ups

All you need to know about VAT in the UAE

On 1st January 2018, the UAE government introduced the new indirect Goods and Services tax -VAT. This was a monumental announcement as the showed how the UAE is moving in a direction to financial strengthen the nation and be at par with the global forces.

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VAT

Why hire a tax professional for your VAT needs

VAT is a form of indirect goods and services tax levied that came into effect on 1st January 2018. The introduction was part of the GCC member countries’ effort to lower their dependence on income from oil.

Bookkeeping

How to get on track with your bookkeeping?

Being in the know of your finances and having it all under control will empower you to carry out your business with confidence. It will also help you avoid pitfalls because your well-kept financial data will give you warnings before things get derailed.

VAT

Guide for VAT Return Filing

VAT is an indirect goods and services tax that is paid by the consumer as an additional percentage of the total price. Thus, the higher the original price of the product or service, the higher the VAT amount paid.

VAT

Getting Started With VAT

Filing deadlines can creep up on you. Take a few minutes to save these 2022 tax filing deadlines to your calendar, and stay ahead of the IRS this year.

VAT

TRN in the UAE, all you need to know

Once you register for VAT with the FTA, a business is assigned a unique TRN number.

Bookkeeping

Signs it’s time to get a bookkeeper on board

When you start off a business, the founding team plays multiple roles. They become all-rounders doing everything in-house saving the company money and other resources.

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Bookkeeping

What is a Cash Flow Statement and how to manage effectively?

Financial statements collectively are documentation of all the transactions in an organization and these together give a picture of the financial status of an organization.

Bookkeeping

Why hire a Bookkeer? Here’s a simple explanation of how a Bookkeeper helps

Bookkeeping is integral to any company’s accounting. Bookkeeping entails a bookkeeper to track day to day financial activity and recording the spending and earnings of the company accurately and in detail.

Bookkeeping

Bookkeeping and Accounting using Excel

Bookkeeping is the process of documenting and recording all financial transactions in an organization accurately.

Accounting

How to find the ideal accountant for your business

A 5-step guide for your business to find the right accountant

Accounting

Decoding the Balance Sheet

The balance sheet is a financial statement that provides a picture of the company’s financial health at a particular point in time.

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Accounting

Crucial Information about your growing Business that you should ask your Accountant to provide

One of the best things you can do for your business is to build a close relationship with your accountant

Accounting

Basic Accounting 101 for small businesses

There’s a lot that goes into accounting for small businesses, but we can break them down into a few key components

Start-ups

Top 5 hacks to hire right when starting up

Regardless of a start-up or a long-established organization, finding the right people to work for you is always challenging.

Start-ups

Preparing your Start-Up for Tax Season

Your very first tax season as a business owner should be well taken care of. Though it might seem like the last of your priorities, you need to be in charge of handling taxes right from the start.

Start-ups

The Pathway to after founding a Start-Up

Building a strong foundation is key to how your start-up will move ahead.

Start-ups

Bookkeeping mistakes a Start-Up should avoid

Regardless of the size of a business, bookkeeping is integral to its operations. It tracks and records the financial transactions that would then provide insights into how the financial health of a firm is.

Start-ups

Building your Pro-Start-Up Sales Team

Before you start sweating to put together a dream sales team, you should be sure that your product indeed is what the market needs and does indeed cater to it effectively.

Corporate Tax

Exploring Tax Groups Under Corporate Tax

While we are exploring the newly introduced Corporate Tax, in the UAE we wish to also present yet another intriguing concept - Tax Groups under this new tax regime.

Corporate Tax

Introducing UAE Corporate Tax – An Overview

In the ever-evolving landscape of international taxation, the UAE's Corporate Tax introduces a new dimension. This is a call necessitating strategic planning and adaptation.

Corporate Tax

Transfer Pricing Rules Under Corporate Tax

Transfer pricing rules stand as the fundamental rule in the UAE's Corporate Tax regime, aiming to ensure fairness and transparency in transactions between related parties.

Corporate Tax

Accounting under Corporate Tax – Realisation basis of accounting

Understanding how your accounting practices translate to tax obligations is crucial for any business. This article delves into the realization basis of accounting and its implications for corporate tax in the UAE..

Corporate Tax

Who needs to pay Corporate Tax? Taxable Income under Corporate Tax

Understanding the subtlety of taxable income is crucial for navigating the landscape of Corporate Tax in the UAE.

Accounting

The Impact of Artificial Intelligence on Accounting Practices

Artificial Intelligence (AI) is being used more and more across different industries, offering ways to improve processes and outcomes. But along with its benefits, there are worries about ethics and whether it might replace human jobs.

Corporate Tax

Navigating Corporate Tax in the UAE for Trusts and Family Foundations

In the realm of corpoive to minimize thrate tax planning in the UAE, trusts and family foundations offer a unique set of opportunities and challenges.

Accounting

Choosing the Right Tool: SWAS vs SAAS for Accounting Needs 

In the present tech world, two models of software have emerged as prominent players: SWAS (Software with a Service) and SAAS (Software as a Service)

Corporate Tax

Investment Funds Under Corporate Tax

Understanding the implications of Corporate Tax in the UAE is essential for investors, fund managers, and other stakeholders involved in the investment fund industry.

Corporate Tax

Understanding Participating Interest Exemption in Corporate Tax

A Participating Interest is defined as a significant, long-term ownership interest in a juridical person that suggests some degree of control or influence over the Participation and that meets the certain conditions.

Bookkeeping

10 Best Bookkeeping Tips for Startups and Entrepreneurs in the UAE

In the bustling entrepreneurial landscape of the United Arab Emirates (UAE), startups and entrepreneurs are constantly navigating the complexities of business operations. In the challenges they face, one critical aspect often overlooked is bookkeeping.

Bookkeeping

The Benefits of Cloud-Based Bookkeeping Software

In today's digital age, businesses are increasingly turning to cloud-based solutions to streamline their operations. One such area that has seen significant transformation is bookkeeping.