Navigating Current Crisis from Tax Perspective

There is so much negativity around us in this current pandemic situation. We are fearful for our and our beloved ones’ welfare. Also if we own a business no matter how small or large it is, we are worrying about its financial stability and sustainability.

We are all spending a lot of time trying to figure how the world will be from here after this pandemic gets over. Some fear the deepest recession; some imagine complete government control of our lives; and some like to see the end and return to local community based living. We just don’t know.

We love living in the tomorrow. The idea that there is a better place to go to, and that somehow it will all be different, and nicer. Our resolutions for our post covid-19 world are quite similar. They help us cope, deny, forget and escape current realities.

Just like in movies or web series there is no fun without little twists and obstacles, our business too goes through some hassles to make it more stable and sustainable. Every problem is an opportunity received.

In UAE the VAT rate is 5% but the penalties of the same is very high, so you need to be precautionary while doing any new transaction in the business due to pandemic such as merger, acquisition, liquidation of business. With that management of cash flow is the big challenge nowadays for business so to get both the answer watch my video for tips and solutions.

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