IFRS 18: Redefining Financial Performance Reporting

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IFRS 18: Redefining Financial Performance Reporting   The first significant change to companies’ presentation of financial performance in over 20 years  IFRS 18 introduces significant changes that will directly impact how performance is reported, particularly in the presentation of the Profit and Loss statement  IFRS 18 will bring several key changes, including:  IFRS 18, the new…

UAE VAT

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Value Added Tax is a tax on consumption levied at each stage of the supply chain and ultimately borne by the end consumer. Registration For VAT A business must register for VAT if the taxable supplies and imports exceed the mandatory registration threshold of AED 375,000. Furthermore, a business may choose to register for VAT…