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How to start a mechanic business in UAE
Posted by Roohi Shabir | 05 July 2018| Uncategorized

Introduction Automobile workshop tools list in UAE Automobile Workshops are well flourished business in UAE. As market for cars both new and used is very remarkable in UAE. Many of us may not invest in a brand new vehicle as it might not be economical. Buying a second-hand car is a great option for residents...

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Posted by Roohi Shabir | 05 July 2018| Uncategorized

Introduction Accounting Service provider in UAE Accounting service provider are basically accountants and accounting firms. So firstly we should understand what an accountant mean. An accountant is a certified   professional who carries accounting functions such as  book keeping, auditing and analysis of accounts. Accountants have the responsibility to prepare annual reports and financial statements for...

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Floor plan financing
Posted by Roohi Shabir | 03 July 2018| Uncategorized

Introduction Floor plan Financing Floor plan Financing or  Retail floor planning also referred to as  inventory financing is a short term loan used by retailers to purchase expensive automobiles. These loans are pledged against the inventory purchased .Floor plan financing is a revolving line of credit that permits the borrower to obtain financing for goods the borrower sells. These loans are made...

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trial balance
Posted by Roohi Shabir | 03 July 2018| Uncategorized

Introduction Year-end closure of accounts in UAE Year-end closure of accounts is an accounting process and procedure practiced at the end of the year  for ascertaining business holding financially and operatively by closing out business from the previous year, carry forward balances from the previous year, and open posting accounts for the upcoming year. Year-end...

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Posted by Roohi Shabir | 30 June 2018| Uncategorized

Introduction Bank Reconciliation Statement A bank reconciliation statement is full-fledged comparative over view of banking and business transaction it reconciles an entity’s bank account with its financial records. The statement shows the deposits, withdrawals, and other activities of a bank account for a specific period. A bank reconciliation statement is used as financial internal control...

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SRG Motor Sports
Posted by Roohi Shabir | 26 June 2018| Uncategorized

Introduction SRG Motorsports is one stop Off-Road Service and Sales center in UAE. Started in 2013, with a vision to give valued customers a professional workshop for Off-Road Services and to be the leading supplier of race winning motorcycles. SRG Motorsports takes pride in being the stockists of leading brands such as FOX,Twinair, DRC products, Metzeler, just1,...

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Posted by Roohi Shabir | 25 June 2018| Uncategorized

Introduction How to claim VAT Refund Government of UAE has facilitated VAT registered entity by allowing reduction of  tax to the extent of Input Tax that is already paid, and pay the balance Output taxable amount of the finished goods to the FTA. In this process if input tax is higher than output tax then...

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Filing VAT Returns under Profit Margin Scheme
Posted by Roohi Shabir | 22 June 2018| Uncategorized

Introduction The margin scheme was introduced for reducing the effects of double taxation with regards to the sale of second-hand goods. It operates by allowing dealers in certain second-hand goods, works of art, antiques and collectors’ items to pay VAT on the difference between the sale price and the purchase price of the goods. The...

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carrying forward input tax credit
Posted by Roohi Shabir | 22 June 2018| Uncategorized

Introduction                                           Input means goods purchased by a dealer for his business as raw material or supporting material for the purpose of producing finished goods.  The purchases can also be for re-sale or for use in any manufacture or processing or packing or storing of other goods or any other use in business including capital goods...

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import of goods via customs in uae
Posted by Roohi Shabir | 20 June 2018| Uncategorized

Introduction Imports of Goods via Customs in UAE Import is the process of bringing goods into the UAE from a foreign country, into a free trade zone or in the Emirates of UAE by following country’s legal requirements in terms of licensing, documentation and permissions. Licensing is very crucial as it allows you to be...

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