FZCO audit
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@Barbara Roessle
does this mean if we are using small business relief(no need for audit), we do not have to have accounting for year 2023 and previous?
does this mean if we are using small business relief(no need for audit), we do not have to have accounting for year 2023 and previous?
Yeah, got it, thanks.︀ Makes sense.
There are checks in place to avoid a sudden vaporizing of taxable profits︁ from one year to the next.
There are checks in place to avoid a sudden vaporizing of taxable profits︁ from one year to the next.
as far as we know dividend payouts can be done as long as they are reasonable! You can also pay yourself allowances like housing, travel, car, etc.....
exactly
yes, correct, my bad, I should have checked with my collegue who is the expert, I am doing company setups and trying to answer as correctly as possible.
Dividends distribution to the shareholders of a company are usually from the profits after tax. So if some business is planning to lower the taxable income, then Salary, bonus, commission etc are more︀ suitable expense heads.
So far as the dividends and other profit distributions are concerned, that︁ income is corporate tax exempt. Suppose if a company is receiving profit from their investment︂ in some other entity, that part will be not taxable.
we dont know yet what︅ the exact punishments will be if you do not comply with regulations. But there is︆ no such thing as auto liquidation, no. There will be penalty fees.
yes, correct, my bad, I should have checked with my collegue who is the expert, I am doing company setups and trying to answer as correctly as possible.
Dividends distribution to the shareholders of a company are usually from the profits after tax. So if some business is planning to lower the taxable income, then Salary, bonus, commission etc are more︀ suitable expense heads.
So far as the dividends and other profit distributions are concerned, that︁ income is corporate tax exempt. Suppose if a company is receiving profit from their investment︂ in some other entity, that part will be not taxable.
we dont know yet what︅ the exact punishments will be if you do not comply with regulations. But there is︆ no such thing as auto liquidation, no. There will be penalty fees.
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