Alpha Pro Partners

𝗛𝗼𝘄 𝗩𝗔𝗧 𝗜𝗺𝗽𝗮𝗰𝘁𝘀 𝘁𝗵𝗲 𝗖𝗼𝗺𝗺𝗲𝗿𝗰𝗶𝗮𝗹 𝗥𝗲𝗮𝗹 𝗘𝘀𝘁𝗮𝘁𝗲 𝗦𝗲𝗰𝘁𝗼𝗿 𝗶𝗻 𝘁𝗵𝗲 𝗨𝗔𝗘 🏢💼 The introduction of VAT at a 5% rate in 2018 has significantly affected the commercial real estate sector in the UAE. Here’s a breakdown of key factors: ⏺️𝗗𝗮𝘁𝗲 𝗼𝗳 𝗦𝘂𝗽𝗽𝗹𝘆 🗓️: VAT is determined by when the property is delivered, the payment date, or the invoice issue date. For proper VAT calculation, businesses must track these closely to avoid penalties. ⏺️𝗣𝗿𝗼𝗳𝗶𝘁 𝗠𝗮𝗿𝗴𝗶𝗻𝘀 📉: Some real estate transactions are VAT-exempt, limiting the ability to claim back input VAT, which can squeeze profit margins. Companies that deal with both residential (zero-rated) and commercial properties need to apply the partial exemption rule to claim only a portion of their input VAT. ⏺️𝗖𝗮𝘀𝗵 𝗙𝗹𝗼𝘄 💸: Developers, particularly those dealing with off-plan properties, face cash flow challenges. Since payments on off-plan developments often come in later, VAT on input costs (such as building and supplier costs) must be paid upfront. ⏺️𝗧𝗿𝗮𝗻𝘀𝗶𝘁𝗶𝗼𝗻𝗮𝗹 𝗣𝗿𝗼𝘃𝗶𝘀𝗶𝗼𝗻𝘀 ⏳: According to Article No. 80 of the VAT Law, transitional provisions prevent businesses from avoiding VAT on supplies delivered post-implementation. ⏺️𝗟𝗲𝗮𝘀𝗶𝗻𝗴 & 𝗦𝗲𝗹𝗹𝗶𝗻𝗴 𝗖𝗼𝗺𝗺𝗲𝗿𝗰𝗶𝗮𝗹 𝗥𝗲𝗮𝗹 𝗘𝘀𝘁𝗮𝘁𝗲 🏗️: Both leasing and selling commercial properties are taxable at 5%. However, the sale of a commercial property along with tenants may be considered a "transfer of an ongoing business," exempt from VAT. Developers must issue tax invoices to buyers, collecting the 5% VAT on the transaction. ⏺️𝗩𝗔𝗧 𝗼𝗻 𝗟𝗲𝗮𝘀𝗲 & 𝗦𝗲𝗿𝘃𝗶𝗰𝗲𝘀 𝗥𝗲𝗹𝗮𝘁𝗲𝗱 𝘁𝗼 𝗥𝗲𝗮𝗹 𝗘𝘀𝘁𝗮𝘁𝗲 💡: The lease of commercial properties is subject to 5% VAT, and owners must register if their supplies exceed AED 375,000 annually. VAT also applies to services related to commercial real estate, including maintenance, property management fees, utilities, and agent fees. ⏺️𝗖𝗮𝗽𝗶𝘁𝗮𝗹 𝗔𝘀𝘀𝗲𝘁𝘀 🏦: Commercial buildings purchased for over AED 5 million are considered capital assets. Buyers must pay 5% VAT upfront, which can be recovered on future tax returns. The building’s use is monitored for 10 years, and any change in use may affect VAT recovery eligibility. ⏺️𝗩𝗔𝗧 𝗗𝗲𝗿𝗲𝗴𝗶𝘀𝘁𝗿𝗮𝘁𝗶𝗼𝗻 🚪: If the taxable supplies or expenses of a commercial real estate business fall below AED 187,500 in 12 months, or if they have ceased operations, they can apply for VAT de-registration through the FTA e-services portal. Navigating VAT in the commercial real estate sector requires careful planning and understanding of the regulations to avoid costly mistakes. Visit ➡ https://lnkd.in/dSD4_AEp for tailored VAT compliance and advisory services. #𝗩𝗔𝗧𝗨𝗔𝗘 #𝗖𝗼𝗺𝗺𝗲𝗿𝗰𝗶𝗮𝗹𝗥𝗲𝗮𝗹𝗘𝘀𝘁𝗮𝘁𝗲 #𝗨𝗔𝗘𝗣𝗿𝗼𝗽𝗲𝗿𝘁𝘆 #𝗩𝗔𝗧𝗖𝗼𝗺𝗽𝗹𝗶𝗮𝗻𝗰𝗲 #𝗥𝗲𝗮𝗹𝗘𝘀𝘁𝗮𝘁𝗲𝗧𝗮𝘅 #𝗣𝗿𝗼𝗽𝗲𝗿𝘁𝘆𝗠𝗮𝗻𝗮𝗴𝗲𝗺𝗲𝗻𝘁 #𝗨𝗔𝗘𝗗𝗲𝘃𝗲𝗹𝗼𝗽𝗲𝗿𝘀

𝗧𝗵𝗲 𝗚𝗖𝗖 𝗩𝗔𝗧 𝗙𝗿𝗮𝗺𝗲𝘄𝗼𝗿𝗸 𝗔𝗴𝗿𝗲𝗲𝗺𝗲𝗻𝘁: 𝗧𝗵𝗲 𝗚𝗖𝗖 𝗩𝗔𝗧 𝗙𝗿𝗮𝗺𝗲𝘄𝗼𝗿𝗸 𝗔𝗴𝗿𝗲𝗲𝗺𝗲𝗻 was introduced in May 2017, established a unified 5% VAT system across the six GCC countries: Bahrain, Qatar, Saudi Arabia, Oman, Kuwait, and the UAE 🇧🇭🇶🇦🇸🇦🇴🇲🇰🇼🇦🇪. It provides a common VAT structure, but each country implements its own local laws based on this framework. 🔑 𝗞𝗲𝘆 𝗛𝗶𝗴𝗵𝗹𝗶𝗴𝗵𝘁𝘀: ➡️𝗩𝗔𝗧 𝗥𝗲𝗴𝗶𝘀𝘁𝗿𝗮𝘁𝗶𝗼𝗻 💼: Mandatory if your business’s annual revenue exceeds SAR 375,000 (approx. $100,000). Optional registration is available if revenue is half of this amount. ➡️𝗣𝗹𝗮𝗰𝗲 𝗼𝗳 𝗦𝘂𝗽𝗽𝗹𝘆 🌍: VAT depends on where goods or services are provided. For goods, it's usually where they enter the GCC, and for services, it’s based on the supplier or customer’s location. ➡️𝗧𝗮𝘅𝗮𝗯𝗹𝗲 𝘃𝘀. 𝗭𝗲𝗿𝗼-𝗥𝗮𝘁𝗲𝗱/𝗘𝘅𝗲𝗺𝗽𝘁 𝗦𝘂𝗽𝗽𝗹𝗶𝗲𝘀 🛍️: Goods/services like oil, real estate, and telecommunication are taxable. Zero-rated supplies include exports, medical supplies, and basic food items. Exempt supplies include financial services, education, and healthcare 🏥. ➡️𝗩𝗔𝗧 𝗗𝘂𝗲 𝗗𝗮𝘁𝗲𝘀 📅: VAT is due based on the earliest of these—invoice date, payment receipt, or delivery. ➡️𝗥𝗲𝗰𝗼𝗿𝗱-𝗞𝗲𝗲𝗽𝗶𝗻𝗴 🗂️: VAT invoices and records must be maintained for at least 5 years. ⚖️ 𝗣𝗿𝗼 𝗧𝗶𝗽𝘀: VAT laws differ across GCC countries—Saudi Arabia, for instance, implemented VAT first, and the UAE has its own VAT Procedures Law and VAT Law. To avoid compliance issues and penalties, always consult professional VAT experts. The GCC VAT Framework is an important step in regional tax alignment, but local expertise is key to navigating its complexities successfully! Visit ➡ https://lnkd.in/dSD4_AEp for more information. #𝗩𝗔𝗧𝗖𝗼𝗺𝗽𝗹𝗶𝗮𝗻𝗰𝗲 #𝗧𝗮𝘅𝗣𝗹𝗮𝗻𝗻𝗶𝗻𝗴 #𝗚𝗖𝗖𝗕𝘂𝘀𝗶𝗻𝗲𝘀𝘀 #𝗨𝗔𝗘𝗕𝘂𝘀𝗶𝗻𝗲𝘀𝘀 #𝗧𝗮𝘅𝗔𝗱𝘃𝗶𝘀𝗼𝗿𝘆 #𝗙𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹𝗦𝗲𝗿𝘃𝗶𝗰𝗲𝘀 #𝗖𝗼𝗿𝗽𝗼𝗿𝗮𝘁𝗲𝗧𝗮𝘅 #𝗕𝘂𝘀𝗶𝗻𝗲𝘀𝘀𝗦𝗼𝗹𝘂𝘁𝗶𝗼𝗻𝘀 #𝗧𝗮𝘅𝗖𝗼𝗻𝘀𝘂𝗹𝘁𝗶𝗻𝗴 #𝗨𝗔𝗘𝗔𝗰𝗰𝗼𝘂𝗻𝘁𝗶𝗻𝗴 #𝗚𝗖𝗖𝗘𝗰𝗼𝗻𝗼𝗺𝘆

𝗧𝗵𝗲 𝗜𝗺𝗽𝗼𝗿𝘁𝗮𝗻𝗰𝗲 𝗼𝗳 𝗖𝗹𝗲𝗮𝗿 𝗣𝗼𝗹𝗶𝗰𝗶𝗲𝘀 & 𝗣𝗿𝗼𝗰𝗲𝗱𝘂𝗿𝗲𝘀 𝗳𝗼𝗿 𝗨𝗔𝗘 𝗕𝘂𝘀𝗶𝗻𝗲𝘀𝘀𝗲𝘀: Every business in the UAE must navigate complex regulations like VAT, GDPR, anti-money laundering, and financial audits, putting pressure on management. To ensure smooth operations and efficient communication, businesses need clear policies and procedures (P&P) documentation to avoid errors. 📑 𝗪𝗵𝗮𝘁 𝗶𝘀 𝗮 𝗣&𝗣 𝗗𝗼𝗰𝘂𝗺𝗲𝗻𝘁? A P&P document outlines an organization’s guidelines and protocols to govern its operations, ensuring employees follow rules and understand procedures. It clarifies what is expected from them and helps them manage tasks more efficiently. 𝗧𝗵𝗶𝗻𝗴𝘀 𝗜𝗻𝗰𝗹𝘂𝗱𝗲𝗱 𝗶𝗻 𝗮 𝗣&𝗣 𝗗𝗼𝗰𝘂𝗺𝗲𝗻𝘁: The document typically covers aspects like company culture, employment procedures, communication policies, payment guidelines, code of conduct, employee benefits, and more. These help set the standard for smooth internal operations. 🏢 𝗜𝗺𝗽𝗼𝗿𝘁𝗮𝗻𝗰𝗲 𝗼𝗳 𝗣&𝗣 𝗗𝗼𝗰𝘂𝗺𝗲𝗻𝘁𝗮𝘁𝗶𝗼𝗻: ➡ 𝗥𝗲𝗱𝘂𝗰𝗲𝗱 𝗔𝘂𝗱𝗶𝘁 𝗥𝗶𝘀𝗸𝘀: Clear documentation minimizes non-compliance and negative audit findings, reducing fines and disruptions. ✅ 𝗠𝗲𝗲𝘁𝗶𝗻𝗴 𝗗𝗲𝗮𝗱𝗹𝗶𝗻𝗲𝘀: Employees gain clarity on responsibilities, reducing missed deadlines. ⏳ ➡ 𝗘𝗿𝗿𝗼𝗿 𝗣𝗿𝗲𝘃𝗲𝗻𝘁𝗶𝗼𝗻: Specific guidelines help reduce mistakes in reports and requests. 📝 ➡ 𝗥𝗲𝗴𝘂𝗹𝗮𝘁𝗼𝗿𝘆 𝗖𝗼𝗺𝗽𝗹𝗶𝗮𝗻𝗰𝗲: Ensures authorities are aware of your adherence to industry standards, preventing frequent audits. 📋 ➡ 𝗜𝗺𝗽𝗿𝗼𝘃𝗲𝗱 𝗥𝗲𝗽𝘂𝘁𝗮𝘁𝗶𝗼𝗻: A strong P&P boosts business reputation, stakeholder trust, and collaboration. 🌟 𝗦𝘁𝗲𝗽𝘀 𝗳𝗼𝗿 𝗪𝗿𝗶𝘁𝗶𝗻𝗴 𝗣&𝗣: ⏺ Prioritize Policies based on importance and legal requirements. ⏺ Understand Audience Needs to tailor the document to their roles. ⏺ Collaborate Across Departments to ensure all perspectives are included. ⏺ Categorize Information to make it easy to navigate. ⏺ Sequence Information logically to aid comprehension. ⏺ Ensure Consistency in terminology and format. ⏺ Make Information Accessible with clear labels and references. ⏺ Use Reusable Modules that apply across different platforms. ⏺ Provide Context and Examples to clarify procedures. ⏺ Solicit Feedback and Revise regularly to keep the document relevant. In conclusion, by continuously updating and refining P&P documentation, businesses can ensure compliance, reduce errors, and increase efficiency. Seeking feedback from internal stakeholders and external experts ensures the document remains effective and clear. 💼 Visit ➡ https://lnkd.in/dSD4_AEp for more information. #𝗨𝗔𝗘𝗕𝘂𝘀𝗶𝗻𝗲𝘀𝘀 #𝗖𝗼𝗺𝗽𝗹𝗶𝗮𝗻𝗰𝗲 #𝗣𝗼𝗹𝗶𝗰𝗶𝗲𝘀𝗔𝗻𝗱𝗣𝗿𝗼𝗰𝗲𝗱𝘂𝗿𝗲𝘀 #𝗩𝗔𝗧 #𝗚𝗗𝗣𝗥 #𝗙𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹𝗔𝘂𝗱𝗶𝘁𝘀 #𝗕𝘂𝘀𝗶𝗻𝗲𝘀𝘀𝗘𝗳𝗳𝗶𝗰𝗶𝗲𝗻𝗰𝘆 #𝗥𝗶𝘀𝗸𝗠𝗮𝗻𝗮𝗴𝗲𝗺𝗲𝗻𝘁

We are proud to announce that we have been recognised by Great Place to Work® Middle East as no. 35 (small business) for Best Places to work for Women in the GCC in 2024

𝗛𝗼𝘄 𝗫𝗲𝗿𝗼'𝘀 𝗣𝗿𝗼𝗷𝗲𝗰𝘁𝘀 𝗙𝗲𝗮𝘁𝘂𝗿𝗲 𝗕𝗲𝗻𝗲𝗳𝗶𝘁𝘀 𝗬𝗼𝘂𝗿 𝗕𝘂𝘀𝗶𝗻𝗲𝘀𝘀 💼 Business finance management can be daunting and stressful, involving tracking invoices, expenses, project workloads, and more. 𝗪𝗵𝗮𝘁 𝗶𝘀 𝗫𝗲𝗿𝗼? 🌐 Xero is easy-to-use cloud-based accounting software linked directly to your bank account and credit cards, allowing for the tracking and recording of all transactions. 𝗕𝗮𝘀𝗶𝗰 𝗫𝗲𝗿𝗼 𝗢𝘃𝗲𝗿𝘃𝗶𝗲𝘄 📊 Xero aids small businesses in managing cash flow, inq wqw and wrnqqqvoices, inventory, payrolls, and bank reconciliation, offering a real-time view of financial statements. 𝗧𝗼𝗽 𝗙𝗲𝗮𝘁𝘂𝗿𝗲𝘀 𝗶𝗻 𝗫𝗲𝗿𝗼 🔧 Xero’s Projects feature provides a low-cost, easy-to-implement solution for capturing critical financial data, enabling efficient costing. 𝗨𝗻𝗶𝗾𝘂𝗲 𝗙𝗲𝗮𝘁𝘂𝗿𝗲𝘀 𝗶𝗻 𝗫𝗲𝗿𝗼 🌟 ⏺ Budget and job cost monitoring ⏺ Handling unlimited projects ⏺ Fixed price and time expenses invoicing ⏺ Out-of-the-box reporting ⏺ Real-time project view in one place ⏺ Assigning invoices, bank transactions, and bills 𝗫𝗲𝗿𝗼 𝗙𝗲𝗮𝘁𝘂𝗿𝗲𝘀 𝗧𝗵𝗮𝘁 𝗜𝗺𝗽𝗿𝗼𝘃𝗲 𝗕𝘂𝘀𝗶𝗻𝗲𝘀𝘀 📈 ➡𝗖𝗹𝗼𝘂𝗱-𝗯𝗮𝘀𝗲𝗱 𝗔𝗰𝗰𝗲𝘀𝘀𝗶𝗯𝗶𝗹𝗶𝘁𝘆 ☁️ Xero allows businesses to manage projects and finances from anywhere, enhancing collaboration. ➡𝗣𝗿𝗶𝗰𝗶𝗻𝗴 𝗙𝗹𝗲𝘅𝗶𝗯𝗶𝗹𝗶𝘁𝘆 💲 Xero offers flexible pricing, you can add users without significant cost. ➡𝗠𝘂𝗹𝘁𝗶-𝗖𝘂𝗿𝗿𝗲𝗻𝗰𝘆 𝗦𝘂𝗽𝗽𝗼𝗿𝘁 💱 Xero supports payments in over 160 currencies. ➡𝗕𝗮𝗻𝗸 𝗥𝗲𝗰𝗼𝗻𝗰𝗶𝗹𝗶𝗮𝘁𝗶𝗼𝗻 🏦 Syncs with your bank account, promoting error-free payment reconciliation. ➡𝗜𝗻𝘃𝗲𝗻𝘁𝗼𝗿𝘆 𝗮𝗻𝗱 𝗘𝘅𝗽𝗲𝗻𝘀𝗲 𝗧𝗿𝗮𝗰𝗸𝗶𝗻𝗴 📦 Automatically populates orders and invoices, and helps with expense claims, analytics, and reviews. ➡𝗔𝗻𝗮𝗹𝘆𝘁𝗶𝗰𝘀 𝗮𝗻𝗱 𝗥𝗲𝗽𝗼𝗿𝘁𝗶𝗻𝗴 📊 Provides insights into key performance indicators, cash flow, and financial health. 𝗛𝗼𝘄 𝗫𝗲𝗿𝗼’𝘀 𝗙𝗲𝗮𝘁𝘂𝗿𝗲𝘀 𝗜𝗺𝗽𝗿𝗼𝘃𝗲 𝗗𝗶𝗳𝗳𝗲𝗿𝗲𝗻𝘁 𝗕𝘂𝘀𝗶𝗻𝗲𝘀𝘀 𝗨𝘀𝗲 𝗖𝗮𝘀𝗲𝘀 🔍 ➡𝗣𝗮𝘆𝗿𝗼𝗹𝗹 𝗺𝗮𝗻𝗮𝗴𝗲𝗺𝗲𝗻𝘁: Pay calculation, reimbursement, benefit plan administration. ➡𝗣𝗲𝗿𝗳𝗼𝗿𝗺𝗮𝗻𝗰𝗲 𝗮𝗻𝗮𝗹𝘆𝘁𝗶𝗰𝘀: Dashboards, custom and standard reports. ➡𝗜𝗻𝘃𝗲𝗻𝘁𝗼𝗿𝘆 𝗺𝗮𝗻𝗮𝗴𝗲𝗺𝗲𝗻𝘁: Tracking, automatic reordering, location management. ➡𝗚𝗲𝗻𝗲𝗿𝗮𝗹 𝗹𝗲𝗱𝗴𝗲𝗿 𝗮𝗻𝗱 𝗮𝗰𝗰𝗼𝘂𝗻𝘁𝗶𝗻𝗴: Cash management, bank reconciliation, expense management, time tracking ➡𝗥𝗲𝗴𝘂𝗹𝗮𝘁𝗼𝗿𝘆 𝗰𝗼𝗺𝗽𝗹𝗶𝗮𝗻𝗰𝗲: Electronic tax filing Xero stands out in the cloud-based accounting software market, offering full control over financial accounts and project costs. Visit Alpha Pro Partners ➡ 𝗵𝘁𝘁𝗽𝘀://𝗹𝗻𝗸𝗱.𝗶𝗻/𝗱𝗦𝗗𝟰_𝗔𝗘𝗽 to get accounting and bookkeeping services. #𝗫𝗲𝗿𝗼𝗣𝗿𝗼𝗷𝗲𝗰𝘁𝘀 #𝗕𝘂𝘀𝗶𝗻𝗲𝘀𝘀𝗘𝗳𝗳𝗶𝗰𝗶𝗲𝗻𝗰𝘆 #𝗙𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹𝗧𝗿𝗮𝗰𝗸𝗶𝗻𝗴 #𝗫𝗲𝗿𝗼𝗧𝗶𝗽𝘀 #𝗦𝗺𝗮𝗹𝗹𝗕𝘂𝘀𝗶𝗻𝗲𝘀𝘀𝗧𝗼𝗼𝗹𝘀 #𝗣𝗿𝗼𝗷𝗲𝗰𝘁𝗣𝗹𝗮𝗻𝗻𝗶𝗻𝗴 #𝗫𝗲𝗿𝗼𝗦𝗼𝗳𝘁𝘄𝗮𝗿𝗲

𝗪𝗵𝘆 𝗦𝗺𝗮𝗹𝗹 𝗕𝘂𝘀𝗶𝗻𝗲𝘀𝘀𝗲𝘀 𝗶𝗻 𝗗𝘂𝗯𝗮𝗶 𝗥𝗲𝗾𝘂𝗶𝗿𝗲 𝗔𝗰𝗰𝗼𝘂𝗻𝘁𝗮𝗻𝘁𝘀 𝗪𝗵𝗼 𝗚𝗼 𝗕𝗲𝘆𝗼𝗻𝗱 𝗡𝘂𝗺𝗯𝗲𝗿𝘀 Being an accountant for a small business is no longer just about crunching numbers for them or helping them with bookkeeping and tax returns. Below are some points why small businesses need bookkeeping and management account experts in Dubai: 𝗧𝗵𝗲𝘆 𝗧𝗮𝗸𝗲 𝘁𝗵𝗲 𝗧𝗶𝗺𝗲 𝘁𝗼 𝗕𝘂𝗶𝗹𝗱 𝗦𝘁𝗿𝗼𝗻𝗴𝗲𝗿 𝗥𝗲𝗹𝗮𝘁𝗶𝗼𝗻𝘀𝗵𝗶𝗽𝘀 🤝 Building a relationship of any kind takes time and effort and the accountant who knows that can help businesses a lot. Such professionals are not afraid to let you know what they really think about your financial state. 𝗗𝗿𝗼𝗽 𝗧𝗵𝗲𝗶𝗿 𝗠𝗮𝘀𝗸 𝗮𝗻𝗱 𝗣𝗿𝗼𝗺𝗼𝘁𝗲 𝗧𝗿𝗮𝗻𝘀𝗽𝗮𝗿𝗲𝗻𝗰𝘆 🗣️ Accountants who only strive to become a distant technical presence are no longer in demand. Businesses need professionals who can drop the formalities and really open up to build more trust. 𝗧𝗵𝗲𝘆 𝗔𝗽𝗽𝗿𝗼𝗮𝗰𝗵 𝗥𝗲𝗹𝗮𝘁𝗶𝗼𝗻𝘀𝗵𝗶𝗽-𝗕𝘂𝗶𝗹𝗱𝗶𝗻𝗴 𝗩𝗶𝗮 𝗦𝗼𝗰𝗶𝗮𝗹 𝗠𝗲𝗱𝗶𝗮📱 In this age of social media, accountants who work on building their personal identity and brand on social media are high in demand. 𝗠𝗲𝗮𝘀𝘂𝗿𝗲 𝗬𝗼𝘂𝗿 𝗦𝘂𝗰𝗰𝗲𝘀𝘀 𝗮𝗻𝗱 𝗥𝗲𝗳𝗶𝗻𝗲 𝗧𝗮𝗿𝗴𝗲𝘁𝘀 🎯 Another benefit is that these professionals can help you assess your progress and figure out your shortcomings. Clear analytics and stats provided by your accountant can help you implement solid strategies. 𝗦𝗵𝗼𝘄 𝗧𝗵𝗲 𝗛𝘂𝗺𝗮𝗻 𝗦𝗶𝗱𝗲 𝗦𝗵𝗼𝘄 𝗧𝗵𝗲 𝗛𝘂𝗺𝗮𝗻 𝗦𝗶𝗱𝗲 🌟 Gone are the days when the only job of an accountant was to crunch numbers or handle financial transactions. This is the time when customer experience, meaningful relationships, and honest advisory are valued the most. 𝗕𝘂𝗱𝗴𝗲𝘁 𝗣𝗿𝗲𝗰𝗶𝘀𝗶𝗼𝗻 𝗮𝗻𝗱 𝗦𝘁𝗿𝗮𝘁𝗲𝗴𝗶𝗰 𝗣𝗹𝗮𝗻𝗻𝗶𝗻𝗴 📊 Accountants who take the time to know your business and understand your needs can help you craft precise budgets. The strategic financial planning offered by these professionals not only helps you set achievable goals but also saves you from possible liability. 𝗥𝗶𝘀𝗸 𝗠𝗮𝗻𝗮𝗴𝗲𝗺𝗲𝗻𝘁 𝗮𝗻𝗱 𝗖𝗼𝗺𝗽𝗹𝗶𝗮𝗻𝗰𝗲 ⚖️ For small businesses in the UAE ensuring compliance with the complex local financial regulations is very difficult. This is where a dedicated accountant or advisor comes to their rescue. An accountant who goes beyond numbers is a necessity for small businesses for a number of reasons. These professionals offer you reliability, trust, and unmatched expertise that benefits you both in the short and long run. A smart and reliable accounting system is the backbone of any enterprise and Visit Alpha Pro Partners ➡ https://lnkd.in/dSD4_AEp today to get accounting and bookkeeping services from professionals who really care about your business. #SmallBusiness #AccountingTips #BusinessGrowth #FinancialAdvice #DubaiBusiness #𝗖𝗹𝗶𝗲𝗻𝘁𝗥𝗲𝗹𝗮𝘁𝗶𝗼𝗻𝘀𝗵𝗶𝗽

𝗨𝗻𝗱𝗲𝗿𝘀𝘁𝗮𝗻𝗱𝗶𝗻𝗴 𝗩𝗔𝗧 𝗥𝗲𝗴𝗶𝘀𝘁𝗿𝗮𝘁𝗶𝗼𝗻 𝗶𝗻 𝘁𝗵𝗲 𝗨𝗔𝗘 🇦🇪 Navigating VAT registration is essential for businesses operating in the UAE. This is an overview to understand the VAT thresholds, exemptions, penalties, and the step-by-step process to register for VAT, ensuring compliance with the Federal Tax Authority (FTA). 𝗩𝗔𝗧 𝗥𝗲𝗴𝗶𝘀𝘁𝗿𝗮𝘁𝗶𝗼𝗻 𝗧𝗵𝗿𝗲𝘀𝗵𝗼𝗹𝗱𝘀 📊 ➡ 𝗠𝗮𝗻𝗱𝗮𝘁𝗼𝗿𝘆 𝗥𝗲𝗴𝗶𝘀𝘁𝗿𝗮𝘁𝗶𝗼𝗻: VAT registration is mandatory if your business’s taxable supplies exceed AED 375,000 in the last 12 months. ➡ 𝗩𝗼𝗹𝘂𝗻𝘁𝗮𝗿𝘆 𝗥𝗲𝗴𝗶𝘀𝘁𝗿𝗮𝘁𝗶𝗼𝗻: Businesses with taxable supplies or expenses exceeding AED 187,500 can register voluntarily. This is beneficial for startups to claim input tax credits. 𝗩𝗔𝗧 𝗘𝘅𝗲𝗺𝗽𝘁𝗶𝗼𝗻𝘀 🏢🚍 Certain sectors and transactions are exempt from VAT: ➡𝗥𝗲𝘀𝗶𝗱𝗲𝗻𝘁𝗶𝗮𝗹 𝗣𝗿𝗼𝗽𝗲𝗿𝘁𝗶𝗲𝘀: The sale or lease of residential properties. ➡𝗟𝗼𝗰𝗮𝗹 𝗧𝗿𝗮𝗻𝘀𝗽𝗼𝗿𝘁: Services like buses and taxis. ➡𝗙𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹 𝗦𝗲𝗿𝘃𝗶𝗰𝗲𝘀: Fees, discounts, rebates, and commissions related to financial services. 𝗩𝗔𝗧 𝗣𝗲𝗻𝗮𝗹𝘁𝗶𝗲𝘀 ⚠️ Failure to adhere to VAT regulations can lead to significant penalties: Below is an overview: ➡𝗟𝗮𝘁𝗲 𝗥𝗲𝗴𝗶𝘀𝘁𝗿𝗮𝘁𝗶𝗼𝗻: A fine of AED 10,000. ➡𝗚𝗲𝗻𝗲𝗿𝗮𝗹 𝗡𝗼𝗻-𝗖𝗼𝗺𝗽𝗹𝗶𝗮𝗻𝗰𝗲: Penalties up to AED 50,000, with an additional 2% on unpaid tax, followed by a 4% monthly penalty. 𝗛𝗼𝘄 𝘁𝗼 𝗥𝗲𝗴𝗶𝘀𝘁𝗲𝗿 𝗳𝗼𝗿 𝗩𝗔𝗧 𝗶𝗻 𝘁𝗵𝗲 𝗨𝗔𝗘 📝 𝗦𝗲𝘁 𝗨𝗽 𝗼𝗻 𝘁𝗵𝗲 𝗙𝗧𝗔 𝗪𝗲𝗯𝘀𝗶𝘁𝗲 🌐 ➡𝗔𝗰𝗰𝗼𝘂𝗻𝘁 𝗖𝗿𝗲𝗮𝘁𝗶𝗼𝗻: Create an account and register on the Federal Tax Authority website and verify your account via email within 24 hours. 𝗡𝗮𝘃𝗶𝗴𝗮𝘁𝗲 𝘁𝗵𝗲 𝗙𝗧𝗔 𝗪𝗲𝗯𝘀𝗶𝘁𝗲 🔍 ➡𝗟𝗼𝗴𝗶𝗻 𝗮𝗻𝗱 𝗙𝗼𝗿𝗺 𝗦𝘂𝗯𝗺𝗶𝘀𝘀𝗶𝗼𝗻: After logging in, complete the VAT registration form, which includes sections like entity details, contact information, and bank details. 𝗣𝗿𝗲𝗽𝗮𝗿𝗲 𝗥𝗲𝗾𝘂𝗶𝗿𝗲𝗱 𝗗𝗼𝗰𝘂𝗺𝗲𝗻𝘁𝘀 📑 ➡𝗞𝗲𝘆 𝗗𝗼𝗰𝘂𝗺𝗲𝗻𝘁𝘀 𝗜𝗻𝗰𝗹𝘂𝗱𝗲: Trade License, Memorandum of Association, proof of authorization. Passport & Emirates ID of signatories and shareholders. Financial documents such as sales and tax invoices. 𝗖𝗼𝗺𝗽𝗹𝗲𝘁𝗲 𝘁𝗵𝗲 𝗥𝗲𝗴𝗶𝘀𝘁𝗿𝗮𝘁𝗶𝗼𝗻 ✅ ➡𝗦𝘂𝗯𝗺𝗶𝘁 𝗮𝗻𝗱 𝗥𝗲𝗰𝗲𝗶𝘃𝗲 𝗩𝗔𝗧 𝗡𝘂𝗺𝗯𝗲𝗿: Review and submit the application. Upon approval, you’ll receive a VAT number and certificate. In conclusion, understanding and complying with VAT regulations is essential for smooth business operations in the UAE. By following this, you can ensure that your VAT registration process is accurate and timely. For expert assistance with VAT registration and compliance, consider seeking professional services like those offered by us 𝗔𝗹𝗽𝗵𝗮 𝗣𝗿𝗼 𝗣𝗮𝗿𝘁𝗻𝗲𝗿𝘀. Visit our website for more details ➡ https://lnkd.in/dSD4_AEp #TaxTips #FinancialPlanning #SmallBusinessTax #IncomeTax #TaxConsulting #TaxLaw #TaxDeduction #UAETax

𝗛𝗼𝘄 𝗖𝗮𝗻 𝗬𝗼𝘂 𝗔𝗰𝗵𝗶𝗲𝘃𝗲 𝗙𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹 𝗣𝗿𝗲𝗰𝗶𝘀𝗶𝗼𝗻? 𝗦𝗺𝗮𝗿𝘁 𝗣𝗿𝗮𝗰𝘁𝗶𝗰𝗲𝘀 𝗳𝗼𝗿 𝗔𝗰𝗰𝘂𝗿𝗮𝘁𝗲 𝗦𝘁𝗮𝘁𝗲𝗺𝗲𝗻𝘁𝘀 In today's fast-paced business world, accurate financial statements are more important than ever. They are the foundation of sound financial management, critical for decision-making, and essential for maintaining trust with stakeholders. Here are some key strategies to ensure your financial reports are accurate and reliable: 𝗞𝗲𝘆 𝗧𝗮𝗸𝗲𝗮𝘄𝗮𝘆𝘀: ➡ 𝗘𝘀𝘁𝗮𝗯𝗹𝗶𝘀𝗵 𝘀𝘁𝗿𝗼𝗻𝗴 𝗶𝗻𝘁𝗲𝗿𝗻𝗮𝗹 𝗰𝗼𝗻𝘁𝗿𝗼𝗹𝘀: Implement segregation of duties, regular reconciliation, and strict access controls to minimize errors and fraud. ➡ 𝗗𝗲𝘃𝗲𝗹𝗼𝗽 𝗰𝗹𝗲𝗮𝗿 𝗮𝗰𝗰𝗼𝘂𝗻𝘁𝗶𝗻𝗴 𝗽𝗼𝗹𝗶𝗰𝗶𝗲𝘀: Create guidelines for accurate financial reporting and provide ongoing employee training. ➡ 𝗟𝗲𝘃𝗲𝗿𝗮𝗴𝗲 𝘁𝗲𝗰𝗵𝗻𝗼𝗹𝗼𝗴𝘆: Use high-quality accounting software like Xero, embrace cloud solutions, and utilize AI-driven insights for improved accuracy. ➡ 𝗘𝗻𝘀𝘂𝗿𝗲 𝗱𝗮𝘁𝗮 𝘀𝗲𝗰𝘂𝗿𝗶𝘁𝘆: Implement secure storage solutions and blockchain technology for transparent transactions. ➡ 𝗣𝗿𝗼𝗺𝗼𝘁𝗲 𝗮 𝗰𝘂𝗹𝘁𝘂𝗿𝗲 𝗼𝗳 𝗮𝗰𝗰𝘂𝗿𝗮𝗰𝘆: Foster transparency, offer ongoing training, and uphold ethical practices.Ready to unlock the power of Xero? Let's chat about how Xero can revolutionize your financial management and propel your business forward! ➡ www.alphapartners.co #𝗙𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹𝗥𝗲𝗽𝗼𝗿𝘁𝗶𝗻𝗴 #𝗕𝘂𝘀𝗶𝗻𝗲𝘀𝘀𝗦𝘂𝗰𝗰𝗲𝘀𝘀 #𝗔𝗰𝗰𝗼𝘂𝗻𝘁𝗶𝗻𝗴𝗦𝗼𝗳𝘁𝘄𝗮𝗿𝗲 #𝗫𝗲𝗿𝗼 #𝗗𝗮𝘁𝗮𝗦𝗲𝗰𝘂𝗿𝗶𝘁𝘆 #𝗘𝘁𝗵𝗶𝗰𝗮𝗹𝗕𝘂𝘀𝗶𝗻𝗲𝘀𝘀 #𝗙𝗶𝗻𝗮𝗻𝗰𝗲𝗧𝗶𝗽𝘀 #𝗔𝗜𝗶𝗻𝗙𝗶𝗻𝗮𝗻𝗰𝗲 #𝗕𝗹𝗼𝗰𝗸𝗰𝗵𝗮𝗶𝗻𝗜𝗻𝗕𝘂𝘀𝗶𝗻𝗲𝘀𝘀 #𝗜𝗻𝘁𝗲𝗿𝗻𝗮𝗹𝗖𝗼𝗻𝘁𝗿𝗼𝗹𝘀 #𝗔𝗰𝗰𝗼𝘂𝗻𝘁𝗶𝗻𝗴𝗣𝗼𝗹𝗶𝗰𝗶𝗲𝘀 #𝗖𝗹𝗼𝘂𝗱𝗔𝗰𝗰𝗼𝘂𝗻𝘁𝗶𝗻𝗴 #𝗙𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹𝗠𝗮𝗻𝗮𝗴𝗲𝗺𝗲𝗻𝘁 #𝗧𝗿𝗮𝗻𝘀𝗽𝗮𝗿𝗲𝗻𝗰𝘆𝗜𝗻𝗕𝘂𝘀𝗶𝗻𝗲𝘀𝘀 #𝗦𝗲𝗰𝘂𝗿𝗲𝗗𝗮𝘁𝗮 #𝗦𝘁𝗮𝗸𝗲𝗵𝗼𝗹𝗱𝗲𝗿𝗧𝗿𝘂𝘀𝘁

We are super excited to be working with Okta

Great news! Alpha Pro Partners and LivLyt are now partners. Alpha Pro Partners is dedicated to providing world class bookkeeping services for businesses in the UAE, Saudi Arabia and the UK and this partnership with LivLyt fits well with goals of supporting the success of businesses.. LivLyt is enabling fast growing companies to manage and optimize their tech costs through Software Licenses & IT management solutions. We aim to bring our combined expertise to help our customers get access to the latest tech tools for their business, while saving on the tech costs. Here’s to a fruitful partnership ahead!