News headline 1 : : The UAE's Ministry of Finance has listed out a number of entities that are not required to register for Corporate Tax. News headline 2 : : The ministerial decision on the Exception from Tax Registration will apply to government and government-controlled entities, extractive businesses, and non-extractive natural resource businesses. News headline 3 : : Additionally, a non-resident person will not be required to register for Corporate Tax if they earn only UAE-sourced income and do not have a Permanent Establishment in the UAE. News headline 4 : : Meanwhile, federal government, UAE government departments and authorities, and other public institutions, do not require to register under Federal Tax Authority as long as they continue to meet the conditions for tax exemption. News headline 5 : : Federal Tax Authority ramps up its efforts by expanding inspection visits by 104% in six months. News headline 6 : : Dubai Financial Services Authority Introduces Whistleblowing Regime News headline 7 : : Big update on UAE Corporate Tax. News headline 8 : : Regular Auditing and maintaining accounts have a greater contribution towards the successful running of a business. The lack of proper books of accounts and regular auditing often results in the business owners continuing to run the venture with the impression that it is going on profitably, while it might be running in loss. The realization comes late and the resultant damages are often irreplaceable. This is where a pragmatic approach to External Auditing services in UAE becomes inevitable. Every business needs the service of professionally qualified and experienced External Auditors in UAE to look into their accounting activities.

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How to Avoid wrong tax return filing?

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There are many companies which are not doing their tax return file correctly and resulting paying heavy penalties from federal tax authority.

In case of wrong submission of tax return, the voluntary disclosure needs to be submitted along with the correct figure. When submitting the correct figure in voluntary disclosure all calculation needs to be done on very careful basis and BSD Prime Account & Bookkeeping Services is having dedicated specialist in this area with one hundred percent success records.

There is the fee of AED 3000 for the first-time voluntary disclosure submission and in case of repetition, this voluntary disclosure fees goes AED 5000 per submission and the BSD Prime Account & Bookkeeping Services can help with this on a very professional manner.

Once the submission of this voluntary disclosure is done correcting the wrong submission of the Tax return, the Federal Tax Authorities takes up to 3 to 6 months to accept the wrong submission of the tax return via Voluntary disclosure.

In case of insufficient information provided to correct the wrong submission of tax return via voluntary disclosure, the Federal Tax Authority will request more information either calling on the registered telephone number or via electronic mail and BSD Prime Account & Bookkeeping Services can help to prepare the wrong tax return in form of correct tax return.

How to Avoid wrong tax return filing