IFRS 9 Staging for Expected Credit Loss
The staging of receivables for determining Expected Credit Loss (ECL) is a key concept under IFRS 9. This process involves complex modeling and can be based on factors such as delinquency, observed probabilities of default (PD), or a combination of both. IFRS 9 outlines two rebuttable presumptions: paragraph B5.5.37 assumes that a receivable is considered […]
International Standard on Quality Management – ISQM 1
Navigating the New Audit Quality Frontier: A Guide to IAASB’s ISQM 1 The international audit landscape is evolving, and so are the standards that ensure their quality. Enter IAASB’s ISQM 1, a revolutionary new standard that marks a significant departure from the familiar territory of ISQC 1 and ushers a new era of proactive, risk-based […]
Income Tax for Restaurants in UAE
Various UAE Tax Provisions for Restaurants The good news is that the UAE’s tax system offers an array of provisions designed to support businesses even though restaurants (including those in free zones) do not get any specific exemptions as all sales are to natural persons. Here are some of the key provisions compiled by the […]
Insurance Companies and Corporate Taxation in the UAE: Reinsurance and Investments
Insurance companies face unique challenges in corporate taxation (CT). In certain jurisdictions, specific rules or methods are applied to the taxation of insurance businesses. This article provides an overview of insurance taxation under the UAE’s corporate tax law, particularly as it pertains to insurance companies’ financial statements under IFRS 17. The previous article in this […]
Insurance Companies and Corporate Taxation in the UAE: A Focus on Insurance Contract Liabilities
Insurance companies present complex challenges in corporate taxation (CT). In certain jurisdictions, there are distinct rules or assessment methods for the taxation of insurance businesses. This article aims to provide insights into insurance taxation under the UAE’s corporate tax law, particularly as it relates to insurance companies’ financial statements under IFRS 17. Future articles in […]
Preparation and Documentation for Corporate Tax in UAE
UAE corporate tax has been implemented and most of the businesses are already within the tax regime. At entity level there are certain documentation requirements which would help to survive in UAE corporate tax regime. The litmus test we have considered is the assumption of how FTA will consider adequacy of an entity’s documentation in […]
Corporate Tax UAE in 2024
UAE Tax 2024: Unleash Opportunity, Conquer Complexity with ASK Management Consultants LLC-FZ The glistening towers of Dubai and Abu Dhabi may paint a picture of untaxed prosperity, but the landscape has shifted. Starting from the imposition of value added tax (VAT) in 2018, the idea of branching out government’s income stream and adopting international best […]
Investing in Dubai Real Estate: Why Now Is the Time
Explore why 2025 is an ideal year to invest in Dubai real estate. Learn about high rental yields, investor incentives, and top property options. Dubai is increasingly becoming a global hotspot for property investment. With attractive yields, investor-friendly regulations, and long-term value, the city presents a timely opportunity for local and international buyers. 1. Strong […]
Living in the UAE – Best Residential Communities for Families
Discover top family-friendly residential communities in the UAE, including areas in Dubai and Abu Dhabi offering safety, amenities, and quality living. The UAE is a leading destination for expatriate families, thanks to its quality of life, international education, and secure environment. Here are the top communities ideal for family living. 1. Arabian Ranches, Dubai Perfect […]
Real Estate Trends in the UAE – What to Expect in 2025
Stay ahead of the curve with a look at UAE real estate trends for 2025. Explore sustainability, tech innovation, and growing demand for affordable housing. As we step into 2025, the UAE’s property market is undergoing a transformation. Driven by policy reforms and innovation, the coming year promises exciting trends for buyers and developers alike. […]
