- 81
- 27 344
Spectrum Auditing
United Arab Emirates
Приєднався 15 кві 2023
Welcome to Spectrum Auditing. Spectrum Group is UAE based firm operating worldwide offering assurance and non assurance services with a global recognition. We are located in Dubai specializing in audit, accounting, tax, advisory services serving clients across UAE, GCC, India, South Asia and Europe with offices in India and Oman. We serve the world’s eminent corporations with a multi-national portfolio of clients ranging from medium to large scale enterprises, small scale industries, family owned companies, startups and as well as budding entrepreneurs.
Відео
Spectrum Auditing - 9th Anniversary Message
Переглядів 6826 днів тому
Dear Team, Clients, and Well-Wishers, As we celebrate the 9th anniversary of Spectrum Auditing, I want to take a moment to express my heartfelt gratitude. Thank you to our incredible clients for your trust and support; your partnership has been invaluable. To our well-wishers, your encouragement inspires us every day. A special shout-out to our dedicated team, whose hard work and commitment hav...
Ganesh Chaturthi Celebrations @Spectrum-Auditing, Dubai, UAE
Переглядів 123Місяць тому
Spectrum Auditing is a Dubai, UAE based auditing, assurance, tax, accounting and consulting firm with offices in India and Oman and partners across the world. Visit: www.spectrumaccounts.com #spectrum #spectrumauditing #spectrumaccounting #dubai #UAE
Pre-Incorporation & Pre-Operating Expenses: Are They Deductible Under UAE CT Law? |Spectrum Auditing
Переглядів 1532 місяці тому
Pre-Incorporation & Pre-Operating Expenses: Are They Deductible Under UAE CT Law? Understanding the deductibility of pre-incorporation and pre-operating expenses is crucial for businesses setting up in the UAE. Pre-incorporation expenses, such as trade license fees, consultancy fees, and market research, are incurred before a company is formally established. These costs are often substantial, a...
Employee Expenses: What’s Deductible and What’s Not? | Spectrum Auditing
Переглядів 822 місяці тому
The following things are discussed in this video as part of UAE Corporate Tax question: Are Your Employee Perks Tax-Deductible? 1) Overview of employee-related expenditures beyond salary, including accommodation, insurance, car facilities, meals, and events. 2) Analysis of whether these expenditures are allowed as tax deductions. 3) Explanation of precautions needed when claiming deductions for...
Happy 78th Independence Day India | With Love from Spectrum Auditing
Переглядів 992 місяці тому
Spectrum Auditing is a Dubai, UAE based auditing, assurance, tax, accounting and consulting firm with offices in India and Oman and partners across the world. Visit: www.spectrumaccounts.com #spectrum #spectrumauditing #spectrumaccounting #dubai #UAE
Why Business Owners Must Benchmark Their Salaries? | UAE Corporate Tax | Spectrum Auditing
Переглядів 2572 місяці тому
Stay Compliant: Why Business Owners Must Benchmark Their Salaries. Ensuring Your Salary is Industry-Standard: Why It Matters In the realm of business ownership, benchmarking your salary against industry standards is more than just a best practice-it's crucial for maintaining tax compliance and safeguarding against potential scrutiny from tax authorities. Properly analyzing and aligning your com...
Unlocking UAE Corporate Tax: Expert Guide to Taxable Income & Participation Exemption
Переглядів 3802 місяці тому
Disclaimer: The material and information contained in this presentation, prepared by SPECTRUM AUDITING, are intended to provide general updates and insights for clients and professionals. This content is based on currently available data and is not a comprehensive treatment of the subject. It should not be considered professional advice or a substitute for consulting with appropriate profession...
The Importance of Corporate Tax Registration in the UAE | Spectrum Auditing
Переглядів 742 місяці тому
Corporate Tax in the UAE: A Breakdown Wondering about Corporate Tax in the UAE? This video covers it all! Find out why every business needs to register, who's exempt, and the penalties for late registration. We also dive into important deadlines, compliance rules, and what to expect for companies incorporated after March 2024. Don't miss out! Spectrum Auditing is a Dubai, UAE based auditing, as...
Understanding Deregistration and ESR: Types, Penalties, and More | Spectrum Auditing
Переглядів 1342 місяці тому
Navigating the complexities of business closure in the UAE? This video is your guide to understanding deregistration and ESR (Economic Substance Regulations). We break down the different types of deregistration, outline the step-by-step process, and highlight potential penalties. You'll also gain essential insights into UAE ESR compliance to ensure a smooth transition. Don't leave your business...
Corporate Tax | UAE Businesses: Know What's Deductible in Employee Entertainment | Spectrum Auditing
Переглядів 782 місяці тому
Is that business lunch or dinner really tax-deductible? Find out the rules and maximize your savings. Don't miss our new video on allowable and non-allowable employee entertainment expenses in UAE! Subscribe now for more tax tips. Spectrum Auditing is a Dubai, UAE based auditing, assurance, tax, accounting and consulting firm with offices in India and Oman and partners across the world. Visit: ...
Why Maintain Books of Accounts in UAE? Is it important? Find out why | Spectrum Auditing
Переглядів 432 місяці тому
Why do you have to Maintain Books of Accounts in UAE? Maintaining accurate and up-to-date books of accounts in the UAE is crucial for several reasons: 1) Legal Compliance: It's a legal requirement under UAE law. Failure to comply can lead to hefty fines. 2) Financial Overview: Provides a clear picture of your business's financial health, helping you make informed decisions. 3) Tax Compliance: E...
UAE ESR: Does It Apply to Your Business? | Understand UAE ESR in a Minute | Spectrum Auditing
Переглядів 722 місяці тому
UAE Economic Substance Regulations (ESR): Is Your Company Affected? The UAE's ESR mandates that certain types of businesses demonstrate a genuine economic presence within the country. If your company engages in activities such as holding companies, finance leasing, shipping, or intellectual property, there's a high likelihood that it falls under ESR. Factors like company structure, revenue, and...
UAE Tax Break for Small Businesses! Spectrum Auditing
Переглядів 2172 місяці тому
Corporate Tax Relief for Small Businesses in the UAE The United Arab Emirates (UAE) has introduced significant corporate tax relief for small businesses. This move aims to stimulate economic growth and support entrepreneurship. Key Points about the Tax Relief - Eligibility: Small businesses with annual revenue below AED 3 million can benefit from this relief. - Tax Exemption: Eligible businesse...
UAE Business Startup Guide 🇦🇪 | The Ultimate Guide to Starting a Business in the UAE | Spectrum
Переглядів 1303 місяці тому
This video is part of a webinar conducted by GetCompany in collaboration with SBC Tax Consulting & Spectrum Auditing on "Starting a Business in the UAE: Legal Forms & Tax Essentials" on Friday, 5 July 2024 from 3 pm to 4 pm. The session covered the following: 1: Jurisdiction of the Company 2: Mainland Company 3: Legal Forms of Business 4: Who Can Own 100% of Shares in a UAE Companies? 5: Limi...
UAE Accountants: Stop Bookkeeping Mistakes! The Ultimate Streamline Guide | Spectrum Auditing
Переглядів 3123 місяці тому
UAE Accountants: Are You Making These Bookkeeping Mistakes? The Ultimate Guide to Streamlining Your Bookkeeping (UAE Focus) Free Webinar: Top Bookkeeping Secrets for UAE Businesses Spectrum Auditing conducted an exclusive webinar on "Guidelines for Preparing a Complete Trial Balance & making Books of Accounts ready for Audit" on Friday, 28 June 2024 from 3 pm to 4.30 pm. In the session, sever...
I m proud of you Dear friend I wish that you will achieve more success in the future 🎉
🙏
Is there any time period to claim preliminary expense example paid rent more than 1 year and fatory construction expenses under temperory license
Well , almost 2 years we are paying rent and construction of factory expense for branch 2, can claim vat in main company or branch 1 company . (Branch 2 is with separate license-same owners)
Generally, the branch is considered as part of the main company/ license for VAT and CT purposes in UAE. In the case of branch, the VAT paid for branch purposes can be claimed as input tax as long as the branch sales are going to taxable supplies. Please make sure whether the branch is holding a branch license or an independent license. For CT purposes, the expenses incurred, if they are capital in nature will be capitalised as an asset and you may claim depreciation on that asset and show as expense in the P&L for CT purposes, if not, then that would been expensed in the year in which they are incurred by following IFRS.
thanks
👏👏
Informative video 👌🏻
👌🏻
👏👏🥰
👌👌👌
Insightful 👌🏻
has corporate tax been applied in uae or confirmation is to come from FTA
Yes. It's already implemented in UAE since June 2023
For establishment is a legal or neutral person????
@mohsinsaleem8406 Sole establishment is considered as part of the Individual for CT purpose. Some places, they are calling the Limited liability companies are also called as Establishments, you need to be clear for those ones.
🔥
🔥🔥🔥
Nice👏
🔥🔥🔥
🔥🔥🔥
👍👍
👍
👍
🔥👏
👏🏻👏🏻👏🏻👏🏻
🔥🔥
Who decides whether a group will be tax group, qualifying or as individual entity, the FTA or the taxable person?
Primarily it is the Taxable person who should decide and apply for the Tax Group once they satisfy all the conditions.
Post a video on chart of accounts.
It was a very informative session. I have a query- during FTA Audit, which documents we have to maintain for Import and Export? For Export, Exit paper + Export declaration is enough or any other documents we have to maintain? Thank you
Hello, for FTA audit the required docs to prove import and export to keep are as follows 1. Commercial invoice 2. BOE (Customs document) 3. Exit certificate/entry certificate 4. Bill of lading/airway bill 5. Also keep the SOA of customer/supplier
@@muhammedrashid4499 thank you for your response. Pont No 3, Exit and entry certificate - we have to request this from customs separately? Bcz normally, we don't get this document from the customs.
Do not understand the reason for mentioning bribes!!! As per UAE law bribes are strictly prohibited.
Very informative video and clearly briefed
Very well explained. Practical insights are very helpful. Thank you sir.
Appreciated your work
Thanks for sharing your comments. Happy to know you could get something out of this video.
Left on 36:36
Excellent job done by both mentors .
All the best sir 🎉
*promo sm* 🙄
Thanks for a great session which gives clarity on so many things... Can we eligible to claim ITC against out of scope supplies??? because the condition for claiming ITC is one should use those inputs to make taxable output supplies, here out of scope supplies are not Taxable output supplies.. And sales made by Un-registered dealers also treated as out of scope in that case hoe can they claim ITC ??
How can claim input credit if i did not linked with FTA ? And which cloum i will show that
Thank you so much for your kind words Santosh🙏
I really appreciate Mr. Balaram and Mr. Rishab for the insights of Corporate Tax. This video is helpful if someone especially individuals who would like to know the impact of Corporate Tax with multiple scenarios...Thank you team.
I'm looking for an internship or an associate tax accounting job in the UAE, I have finished my 4 years bachelor’s degree in accounting, moved to the UAE, got a 2 years residency / work visa and available to work instantly. Please respond with yes or no. Thank you for the video as well, really helpful.
its a wonderful session unless 2nd person come, he is chewing something , i cant understand a word
Thankyou
Very helpful, I watched the entire webinar.
Non vat business expense are considered for corporate tax calculation
Yes, unless they are not allowed specifically and that business income is subject to UAE Corporate Tax
I don't get "fourth degree of kinship and affiliation " could you please elaborate it. Thank You 🙏😊
Very useful and simple. Thank you sir
You are welcome
Such a session is rear to find on internet. Hats off to you Sepctrum Auditing. Indeed it is rich with knowledge - thanks to the speakers.
Thanks for sharing your comments. Appreciate you got benefitted from the webinar. keep visiting as we publish videos regularly.
is it mandatory for offshore companies ?
We do not have any clarity on it yet, but we assume that as an offshore entity's licence is issued by a free zone authority and it may be treated like any other free zone licence for CT purpose. However, it is advisable to wait for further updates in this regard from the Ministry. Thank you
Our company registered in July 2023. So according to guidelines our financial years will be Jan 2024 to Dec 2024. My question is that the transactions we did in July to Dec 2023 will include in first financial year( Jan to Dec 24) or this period will be non tax period?
Hello LeharG, ideally the first financial year of your company is going to be from July 2023 to 31 Dec 2024 under IFRS. For Corporate Tax purpose also, they may consider the same period, in which case your transactions from the beginning will be subject to corporate tax is what we think. However, the Ministry mentioned in a recent discussion that they will come up with a guidance on this matter.
hi amazing video i have quick questio is a freezone company a legal person or natural person ?
Thanks for your question. A Freezone Company is a Legal Person. You can drop a mail at info@spectrumaccounts.com if you want to get your queries cleared and one of our CT experts will reach you.
very informative session