IFRS 15 Revenue from Contracts with Customers, this is a new revenue standard which was established by IASB (International Accounting Standards Board) and FASB (Financial Accounting Standards Board). This defines a comprehensive framework for determining when revenue should be recognised and how it should be measured.
The “Step-By-Step” guide that summarizes the various procedures businesses need to go through when they wish to set-up their Business in a Dubai Free Zone.
When it comes to deciding on the type of company to set-up in Dubai, the first resolution is choosing whether it could be done in mainland Dubai or in a Free Zone.
China’s socialist-oriented economy provides access to over 3.5 billion consumers and serves as a crucial gateway to one of the most dynamic markets in the world. Business and Financial centres such as Hong Kong, Singapore and Shanghai attract world-wide companies, by merit of their business-friendly environment, excellent education, political strength and superior tax policies.
In today’s society, many companies are driven to establish their businesses in foreign markets, through seeking international growth. This is because going global offers enormous different opportunities such as expanding business market share and diversification.
UAE’s vision of 2020 has been calling for all types of objectives, from decision pattern to building investment. However, only recently measures have been taken aimed at improving Dubai’s economy even more than before.
The OECD/G20 Inclusive Framework on Base Erosion and Profit Shifting (BEPS) and its 108 members tackles tax avoidance by ensuring the implementation of the measures agreed through the BEPS Project, which targets multinational enterprises’ aggressive tax planning practices. In particular, four “minimum standards” are at the core of the BEPS measures: harmful tax practices, treaty abuse, country-by-country reporting and dispute resolution mechanisms.
This May the executive meeting of the State Council, chaired by China’s Premier Li Keqiang, has decided to reduce again the tariff on certain kind of imported consumer goods. This is the fifth tariff adjustment in four years for daily life consumption product: the new regulation will start from 1 July 2018 and will cover a wide range of daily life products. More specifically, it involves a number of 1,449 items, from products such as clothes and cosmetics to washing machines.
UK: Research and Development (R&D) Tax Credits are a UK tax incentive designed to encourage companies to invest in R&D. It can even be claimed on unsuccessful projects.
Companies can REDUCE CORPORATION TAX or CLAIM PAYABLE CASH CREDITS as a proportion of their R&D expenditure.
SINGAPORE: Financial Technology is transforming financial services in a way not seen before: mobility, connectivity, digital payments, blockchains, big data… are just few of the new FinTech challenges and possibilities.