At Smarty Counsel, we're a team of passionate individuals who are dedicated to helping businesses thrive. Our services are designed to simplify your business processes and help you achieve your goals. Whether you need help with accounting, business setup, or digital marketing, we've got you covered. With years of experience and a commitment to excellence, we're here to help you succeed. Contact us today to learn more about how we can help you grow your business.
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Certified QuickBooks Introducing QuickBooks Online, the ultimate accounting software for small to medium-sized businesses. As a certified QuickBooks ProAdvisor, we offer a streamlined and efficient solution that can care for your accounting needs seamlessly. Ideal for small business owners, QuickBooks Online helps you manage your accounts, cash flows, expenses, invoicing, and taxes with ease. As […]
Penalties for Late Registration Corporate Tax Penalties for Late Registration Corporate Tax Attention all businesses in the UAE! A new cabinet decision has been made that will impact your bottom line. Effective March 1st, a penalty of AED 10,000 will be imposed for late registration of your corporate tax. Don’t let this hefty fine weigh […]
Bounced Cheque Law The United Arab Emirates (UAE) has a strict legal system that is designed to maintain order and ensure that individuals and businesses are held accountable for their actions. One of the laws that has garnered a lot of attention in recent years is the bounced cheque law. This law has been controversial […]
Eligibility Criteria for Voluntary Registration The UAE government has recently introduced a voluntary registration scheme for businesses, allowing them to voluntarily register for VAT even if they are not required to do so by law. This scheme is aimed at helping small businesses grow and encouraging them to take part in the country’s economy. However, […]
Criteria for VAT Mandatory Registration Criteria for VAT Mandatory Registration The GCC VAT Agreement has put in place certain regulations that businesses must adhere to avoid penalties and ensure smooth operations. If your business has had a taxable turnover of AED 375,000 or more (USD 100,000 or more) in the past 12 months or is […]
What is input and Output VAT: What is input and Output VAT? VAT paid by a business on purchases of goods or services used in its business operations. Businesses can claim input VAT as a credit against their output VAT liability, which is the VAT charged on sales of goods and services. Understanding Output VAT: […]
How to Register a Company in Dubai Welcome to the land of opportunities! Dubai, United Arab Emirates is the ideal destination for entrepreneurs like you who want to establish a thriving business in a profitable environment. Get ready to bask in the great benefits of the UAE, where you can enjoy 100% foreign ownership, ease […]
UAE Corporate Tax Rates UAE Corporate Taxation holds a crucial position in the world of finance, as it is a direct tax that is imposed on the taxable income of corporations and businesses. It is also sometimes referred to as ‘Corporate Income Tax’ or ‘Business Profits Tax’ in certain jurisdictions. The implications of this tax […]
UAE Individulas are not subject to income tax The United Arab Emirates (UAE) has been a tax-free haven for individuals and businesses for decades. Its favorable tax policies have attracted foreign investors and highly skilled professionals from all over the world. Recently, speculation has been that the UAE government is considering introducing income tax for […]
Documents Required for VAT Registration As a professional, you understand the importance of complying with the regulations and requirements set forth by governing bodies. One of these requirements, for businesses operating in certain countries, is VAT registration. Value Added Tax (VAT) is a tax on goods and services that is collected by the government. To […]