As we approach the financial year-end, finance teams and those overseeing financial reporting are focused on completing the close and ensuring key accounting, presentation, and disclosure matters are properly addressed. Several developments over the past year require consideration from a financial reporting perspective.

The Ministry of Finance (MoF) issued The Federal Decree-Law No. 47 of 2022 on October 2022, on the Taxation of Corporations and Businesses (CT Law) which introduced the TP Regulations in United Arab Emirates (UAE). These TP regulations are effective for Financial Years (FYs) beginning on or after 1 June 2023 and thus the tax year ending 2024 would mark…

The UK state pension age has undergone its most significant change in years. Starting 6 April 2026, the retirement age for claiming the state pension will gradually increase from 66 years to 67 years. This increase is a part of the phased implementation, which will be rolled out over a two-year period and will directly affect millions of people planning…

Global Capability Centers (GCC) have evolved from cost generators to strategic business enablers and value generators. During the initial stage, the majority of transactional activities, headcount, and budgets are off-shored under local governance with the aim of cost reduction. As GCCs grow over time, there is an increase in demand for service and for talent. Companies then shift from focusing…