What are the accounting implications of leasing and purchasing assets in the UAE?
Lease is accounted for under IFRS 16 as an asset and liability. Purchase — as a fixed asset, depreciated over its useful life. This data affects Corporate Tax. Xcella maintains accounting and generates entries.
Related Topics
Accounting, bookkeeping & reporting
What is the best way to restore missing accounting records before an audit?
Accounting, bookkeeping & reporting
How do I perform bank reconciliations for multi-currency accounts in the UAE?
Accounting, bookkeeping & reporting
What accounting records must be maintained for UAE audits?
Tax & compliance
Can Xcella help restore historical accounting records before a corporate tax audit?
Company registration and business support in the UAE
From business registration to comprehensive support.
Structuring and licensing
From connecting to UAE banks to transaction support.
Banks and compliance
Resident visas, licenses, permits and support.
People, status, documents
If you still have any questions, please contact us.
Location:
Office 1701,
Al Shafar Tower 1,
Barsha Heights,
Dubai, UAE
Office 1701,
Al Shafar Tower 1,
Barsha Heights,
Dubai, UAE
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info@xcella.ae
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