Dr. Mohamed ELROUBY CGMA, ACMA, CIFPA™, FPAC, CSCA, OKRP

The Ministry of Finance issued new decisions that reflect the importance of Free Zones and their role in the country’s economic diversification strategy, as well as the UAE’s commitment to providing a supportive business environment in alignment with international tax standards. #MoFUAE

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🎯 Preparing for Finance/Accounting Interviews? Study VAT basics! If you're exploring opportunities in accounting, finance, or admin roles in the UAE, understanding VAT is no longer optional—it’s often one of the first questions asked in interviews. Here's a quick refresher to help you feel more confident: 🔹 What is VAT? Value Added Tax is an indirect tax charged at 5% on most goods and services in the UAE. 🔹 Who must register for VAT? Mandatory: Businesses with taxable supplies over AED 375,000/year Voluntary: Over AED 187,500/year 🔹 Key terms to Know: Output VAT = VAT collected on sales Input VAT = VAT paid on purchases VAT Payable = Output VAT – Input VAT 🔹 Tax Invoice Requirements: Includes TRN (Tax Registration Number), invoice number, VAT amount, date of supply, and more. 🔹 Return Filing: Usually done quarterly or monthly, depending on the business’s assigned tax period. ✅ Pro Tip for Interviews: Be ready to answer questions like: How do you calculate VAT payable? What’s the difference between input and output VAT? What details are required on a tax invoice? Whether you're applying for a junior accountant role or an admin position, a strong grip on VAT basics can give you an edge. Wishing all job seekers the best of luck! You've got this. 💼 #JobSearch #InterviewTips #VATBasics #UAEJobs #AccountingCareers #FinanceJobs #Tax #FTA #CareerGrowth #InterviewPrep

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🔍 IFRS 18 is here — Are you ready? The new standard transforms how financial statements are presented, enhancing transparency, consistency, and investor insight. Discover the key changes and how your business can prepare. #IFRS18 #FinancialReporting #PKF #AuditExcellence #SaudiArabia

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The KPMG Global Tech Innovator Competition 2025 brought together some of the UAE’s most promising scale-ups, offering them the opportunity to pitch their innovative technologies to #investors and industry leaders. Following a rigorous evaluation process, eight finalists were shortlisted, with Electrogenos Magan emerging as the standout participant. The company, known for its patented catalyst in green hydrogen, impressed judges with its proven technology, robust business model, and strong global scalability potential. Read more: https://lnkd.in/dMpGHUyX KPMG, Electrogenos, Anurag Bajpai, Incorpify AI, ProvenMed® ,healthStay.ioo,Circa Biotechh,InvoiceMatee,Verofax – AI That Connectss,Augusto Bartolomee,Alfredo Saengerr #FintechNewsUAE #KPMG #Electrogenos #greenhydrogen #TheKPMGGlobalTechInnovatorCompetition #UAE #Startups #MiddleEast #Recognition #UAEFintechNews

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Our ‘Insights into IFRS 15’ series explores the five-step revenue recognition model, offering clarity on scope, performance obligations, and application in practice. Discover how IFRS 15 ensures consistent and reliable revenue reporting across industries. Get in Touch with our Experts: Yaser Abbas Salman ✉️ [email protected] Ali Abbas Salman ✉️ [email protected] #IFRS #FinancialReporting #GrantThorntonBahrain Jassim Abdulaal Jatin Karia Sunil Thakkar Anandha Ramakrishnan Singaravelu Nishith Saxena Shashank Arya D Chandrasekhar Chris Noguera, CPA (Phl), CPA (Aust.)

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Year End Transfer Pricing Adjustments In our latest article, we unpack the Transfer Pricing implications of year-end adjustments under the UAE Corporate Tax regime. We explore when “true-ups” or “true-downs” may be required. For instance, when actual results deviate from targeted margins, or when profitability falls outside the arm’s length range. Read more to understand key considerations for UAE taxpayers, including cross-border alignment, customs and indirect tax implications, Pillar 2 interactions, and best practices to minimize the need for year-end adjustments. Read our article:https://lnkd.in/dEDhvJ8h #TransferPricing #CorporateTaxUAE #TaxCompliance #YearEndAdjustments #TrueUp #TrueDown #ArmLengthPrinciple #CrossBorderTax #InternationalTax #UAEBusiness #CustomsAndIndirectTax #PillarTwo #TaxAdvisory #TaxPlanning #CroweUAE

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What you need to know about VAT (Value Added Tax) in Saudi Arabia: VAT in Saudi Arabia is charged at 15% on both your local sales and purchases made within Saudi: How it works: • You add 15% VAT to your sales invoices • You pay 15% VAT on most local purchases from suppliers • You file a VAT return and pay to ZATCA (the local tax authority) the difference between VAT collected (on sales) and VAT paid (on purchases) How often do you need to file a VAT return: • Monthly → if your annual revenue is above $10.6 million • Quarterly → if your annual revenue is below $10.6 million Example (Quarterly VAT Report): Let’s say in Q2 you: • Sold services worth $100,000 → Collected $15,000 VAT (15% on 100.000) • Purchased local equipment and services for $40,000 → Paid $6,000 of VAT (15% on $40.000) What you owe ZATCA (local tax authority): $15,000 (collected) – $6,000 (paid) = $9,000 VAT payable This amount must be submitted and paid by July 31st. What VAT can’t be reclaimed: Not all business expenses are eligible for a VAT refund. According to ZATCA, VAT cannot be reclaimed on: • Meals and catering (e.g. restaurant bills, hotel food) • Entertainment (e.g. client events, gifts) • Employee perks (e.g. gym memberships, mobile phones) Penalties: • Late filing of VAT → 5% to 25% of the VAT due • Late payment of VAT → 5% per month on the unpaid amount • Incorrect VAT return → up to 50% of the unpaid VAT There you go. If you have any questions about building a business in Saudi Arabia, feel free to reach out.

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