Kress Cooper UK: Tax I Accounting I Advisory

28/10/2024

Khaleej Times has launched a new initiative to offer readers expert insights about the impact of VAT and Corporate Tax on UAE’s businesses.

Being an expert, associated with “Khaleej Times”, please find my comments where businesses are engaged in buying and selling second-hand goods in the UAE.

I have addressed, is it possible for the businesses to pay VAT on the net margin to the FTA to remain competitive in the market, or they are required to apply VAT on the gross sales price? If they are permitted to apply VAT on the net margin for second-hand goods, then:
•⁠ ⁠On which goods they can apply the profit margin scheme?
•⁠ ⁠What are the preliminary conditions to apply the profit margin?
•⁠ ⁠How can they comply with and report the numbers in their VAT return?

https://www.khaleejtimes.com/business-technology-review/profit-margin-scheme-can-we-apply-vat-on-the-net-margin-for-second-hand-goods

VAT is applied only to the profit generated from the sale of the goods, rather than the entire selling price. This arrangement benefits sellers by lowering their VAT...

10/10/2024

RIP Ratan Tata (1937 - 2024)

A regional icon, accomlished businessman, and dedicated philanthropist. An era comes to and end!

27/09/2024

Thrilled to Share Highlights from the 3rd Session of the Master Course on Excise Duty!

I had the honor of speaking at the Taxation Society UAE’s event on September 21, 2024, held at the Grand Excelsior Hotel Burdubai. This session focused on the groundbreaking topic of "UAE Excise," marking an important first in our discussions.

I presented on the fundamentals of UAE Excise tax, and I was joined by two distinguished speakers Jigar Thakkar; and CA. Gaurav Chugani, who provided insights on Excise tax compliance and audits.

A heartfelt thank you to the founding members [CA Naveen Sharma and Nimish Makvana-FCA (ICAI),BFP ACA (ICAEW),UAE Fellowship]; and the Executive Committee Members of the Taxation Society Amit Singhania | Bhawna Chopra | CA Dixit Jain | Mahesh Prabhu | NAVEENKUMAR KABRAA | CA Nishant Rayma | CA Vishal Hurkat, for their unwavering support in making this event a success!

03/09/2024

*Tax on Real Estate Investment Trust (REIT)*

Join us *tomorrow* at our Exclusive Webinar where we are discussing, the Tax on *Real Estate Investment Trust (REIT)* and Its Stakeholders.
•⁠ ⁠Time: 3pm UAE Time
•⁠ ⁠⁠Date: September 04, 2024

Please get yourself registered by clicking on the following
link.
https://zoom.us/webinar/register/WN_I4WjDTaRR6WGCTIt9Nt9Kg
Looking forward to speaking to you.
Regards
www.kresscooper.com

Kress Cooper was established with the vision to become a global resource of your choice in the assurance, tax, advisory, accounting, and bookkeeping, etc. services. Our ambition is to provide simplified and bespoke business solutions globally in a timely and cost-effective manner. Kress Cooper is a....

26/08/2024

My latest article "No Corporate Tax for Qualified Investment Fund" has just been published in Khaleej Times today.

In this piece, I explore the implications of corporate tax on investment funds and how fund managers can navigate this landscape.

Read the full article here: https://www.khaleejtimes.com/business/no-corporate-tax-for-qualifying-investment-funds

19/08/2024

FTA has recently published the Corporate Tax Guide (CTGDTI1), "Determination of Taxable Income". Please find below my latest article titled "Takeaways from the Latest Guide Published by the FTA".

https://www.khaleejtimes.com/business/insightful-takeaways-from-the-latest-ct-guide-issued-by-fta

14/08/2024

Happy Independence Day India!

13/08/2024

Happy Independence Day!
Live Long Pakistan

12/08/2024

Compliance Corner
Stay Compliant, Stay Ahead!

Please check my latest article in Khaleej Times, where I provide an overview of the FTA's newly published Guide on the "Calculation of Taxable Income"!

https://www.khaleejtimes.com/business/compliance-corner-new-fta-guide-outlines-procedure-for-calculating-taxable-income

Appreciate your feedback!

09/08/2024

Our Intellectual Work Is Bringing the Fruits!

Our hashtag channel [https://www.youtube.com/] is thriving thanks to all of your amazing support!

https://www.facebook.com/share/p/aH2mfN2b3jsaDPMu/

Our Intellectual Work Is Bringing the Fruits!

Our YouTube channel is thriving thanks to all of your amazing support!

In the last month alone, we gained 53 new , reached 2,814 , and accumulated a whopping 14,500 minutes of ! Thanks to every one of you for being a part of our journey! Let's keep the momentum going and continue to learn and share awesome content together!

08/08/2024

Had the wonderful opportunity to be a speaker at the "Corporate Tax Decoded" event organized by Khaleej Times. It was a pleasure sharing insights alongside other distinguished speakers on this important topic.

Grateful for the opportunity to contribute to the discussion on corporate tax and its impact on businesses. Looking forward to more engaging conversations in the future!