Archive for the ‘Dubai and regional news’ category

Get ready for year-end close in Dynamics AX and Dynamics 365 with Synergy Software Systems, Dubai.

December 20th, 2018

There many tasks to be done for the Fiscal year-end closing process.
Those include task for all functions not just finance.
For over 10 years Synergy has conducted Year end training courses to help prepare Dynamics users for their fiscal close.
Our 2 day workshop encompasses:
Key tasks and sequence
Tips and trick
Key reports,
Use of MR and Power Bi
Sales, Supply chain, HR, IT tasks
Hands on practice
The course content applies to almost all versions and will be run in Dynamics Ax 2012 R3. it will however will also introduce the Dynamics 365 Financial closing workspace.

Date: 2 day course: 09.00 – 17.00 8th and 9th Jan 2019
Venue: SYNERGY SOFTWARE SYSTEMS. Al Karama, Dubai.
Ample parking and bus stops and metro nearby.
For a trouble-free and timely, year-end close, book today.
Experienced, expert instructors.

Hitec Dubai 2018- Synergy Software Systems, Deyafa Systems showcase ‘Inigma’.

December 6th, 2018

Dubai Corporation for Tourism and Commerce Marketing (DCTCM) CEO Issam Kazim officially inaugurated the second HITEC 2018 Dubai, the Middle East’s largest, hospitality technology, exhibition and conference.

This year’s event took place yesterday and today at the Madinat Jumeirah Dubai ( December 5- 6) and showcased a wide range of innovative solutions from the world’s leading hospitality technology providers. Synergy Software Systems together with Deyafa Systems presented the Inigma software solution.

Inigma task management system and collaboration platform offers a smoother and more efficient way to run operations for any hotel.

https://www.youtube.com/watch?v=r8ZiVzKQ5G4

Synergy and Inigma stand with John M. Clark Vice President – SynergyMMS Division. Systems Associates

RPA certifications for Synergy Software Systems, Dubai

November 25th, 2018

I am pleased to announce that following extensive training over recent weeks two of our consultants have already achieved certifications.

If you have an ROA project in mind and need support for your project from a proven, local. UAE partner then please call Synergy Software Systems on 0097143365589

Microsoft to open two Data centres in S Africa at the end of 2018

November 25th, 2018

18 months ago Microsoft said it would deliver two new data centres one based in South Africa North in Johannesburg and South Africa West in Cape Town.
Microsoft South Africa’s Director of Commercial Partners, Lionel Moyal, recently announced, while speaking to entrepreneurs and startups at the Global Entrepreneurship Week 2018 in South Africa. that the two Azure datacenter regions are due to go live “within weeks” at the end of 2018. Calling the centres “a cloud for Africa”, he noted that “latency will not be an issue any more.” Lionel encouraged workers to skill up in cloud technologies, machine learning, AI, mobile technologies, development tools, noting that he expected South Africa to add 112,000 IT specific jobs by 2022.

The announcement follows Amazon saying in October 2018 that AWS was to open Data Centers in South Africa by 2020.

Eid Mubarak from Synergy Software Systems to one and all.

June 14th, 2018

The first day of Eid Al Fitr – which translates in Arabic to the feast of breaking the fast – marks the end of Ramadan and coincides with the first day of the lunar calendar month of Shawwal.
Eid al-Fitr 2018 in United Arab Emirates will likely this evening of Thursday, June 14 and end in the evening of Sunday June 17
Our offices will be closed Friday, Saturday, Sunday.
With Ramadan ended our normal office working hours resume Monday at 9am.

Free parking in Dubai for Eid Al Fitr 2018

June 11th, 2018

Its reported that U.A.E. Residents will be able to enjoy four days of free parking in celebration of Eid Al Fitr, announced the Roads and Transport Authority (RTA) on Monday. Eid Al Fitr is yet to be announced, but it is thought it will fall on June 15 and on that basis:

From 29 Ramadan to 3 Shawaal 1439H, which falls on Thursday June 14 to Sunday June 17, all public car parks will be free, except for multi-level parking terminals,

The parking tariff will be re-activated on Monday June 18 – as of 4 Shawaal 1439H,

The Dubai Metro stations on the Red Line will be operating on Thursday, June 14, from 5am to 2am (of the following day) and on Friday, June 15, from 10am to 2am (of the following day). From Saturday to Monday (June 16-18, 2018), the service will be running from 5am to 2am (of the following day).

The Dubai Metro Stations on the Green Line will be operating on Thursday, June 14, 5.3am to 2am (of the following day) and on Friday, June 15, from 10am to 2am (of the following day). From Saturday to Monday (June 16-18, 2018), the service will be running from 5.3am to 2am (of the following day).

The Dubai Tram will operate from Saturday to Thursday from 6am to 1am (of the following day), and on Friday from 9am to 1am (of the following day).

VAT on bank charges in the U.A.E. Yes? No? Maybe

February 18th, 2018

On the 28 December 2017, the United Arab Emirates (“UAE”) Central Bank issued “Notice No. 421/2017” to Head Offices of National Banks, Main Branches of Foreign Banks and Finance Companies Operating in the UAE with a subject title “Clarification of VAT Application” (“Notice”). This notice clarified the UAE Central Bank’s position regarding the levy of Value Added Tax (“VAT”) on certain fees charged by banks and finance companies.

“Banks and finance companies should comply with Central Bank’s Regulations 29/2011 regarding Bank Loans & Other Services Offered to Individual customers, and service charges collected from customers shall be within the limits specified in Annexure 2 of the said Regulations. Banks and finance companies will not be permitted to exceed the fees structure for individual customers because of VAT. Similarly, banks are required to maintain and not increase their existing fees structure and levels for non-individual customers as a result of VAT.

Therefore, the banks and finance companies shall absorb the applicable VAT until further instructions from the Central Bank. Similarly, any applicable VAT on the services provided by the Central Bank shall be absorbed by the Central Bank.”

This Notice was not aligned with the understanding of many financial services providers, where the interpretation is that charging VAT on their (maximum) fees and commissions is not an increase in fee but rather is a levy of tax on behalf of the Federal Tax Authority in accordance with the Federal Decree – Law No. (8) of 2017 on Value Added Tax (“ VAT Law”) and had announced a VAT levy would apply.

Some areas remain uncertain under the Notice, notably with regards to the application of the restriction to existing fees structure and levels for non-individual customers, as the maximum limits for fees and commissions listed in Appendix 2 of the Central Bank Regulations 29/2011 are applicable to retail customer service only.

As indicated in the Notice, a further review in consultation with relevant stakeholders will be undertaken.
see for example https://www.khaleejtimes.com/business/local//will-uae-banks-increase-their-fees-due-to-vat-find-out

EAM, field service, IOT and Holo lens -ask Synergy Software Systems, Dubai

February 17th, 2018

The digital world is already here and what seemed science fiction few years back we now accept as everyday. Voice activated commands on our smear phone now also query our databases and update our dashboards, remote medical checks are done at an atm, artificial intelligence and big data influence our live every time we log onto google, amazon, facebook or ring a callcentre.

We have been investigating IoT for over a year, particularly with regard to condition monitoring for asset management and several of our team were involved in recent training that included a hands on session for Microsoft Field Services. This is built on the Dynamics 365 platform as an extension of CRM and offer comprehensive features for field service: help desk, engineer scheduling and mobile operations. Field service is aimed at service companies with a large field force of service engineers and is typically integrated with erp systems and thus the overall project can be quite complex. To reduce the risk and implementation time we offer a proven accelerator.

We also offer a Enterprise Asset Management suite which is successfully deployed in several leading UAE companies for a number of years particularly for asset tracking.

In Dynamics 365/2012 for Ax EAM also needs to consider that both engineers and equipment may be sued is production or on projects. Thus engineering and maintenance scheduling also has to consider in house planned and breakdown maintenance and servicing and more complex overhauls and asset structures, the impact of equipment downtime on production schedules and much more. We offer a Microsoft certified isv integrated suite of EAM modules built on the Ax 2012/D365 platform that covers both field service and mobile as well as in in house maintenance.

Predictive maintenance and SCADA integration and extensive condition monitoring., embedded and Power BI analytics are no longer rocket science.

At a recent client 4 day workshop we demonstrated HOLO lens assisted reality to support engineers. This can for example be used to provide step by step guidance or for collaboration from the field with an OEM a remote manufacturer, or your chief engineer.

Omanisation temporary ban on visa for 10 sectors

January 29th, 2018

The Sultanate of Oman wants companies to employ Omani professionals.

Oman has issued a six-month ban on issuing of work visas for expatriates in ten sectors, including: information systems, engineering, aviation and certain technical professions.

Sheikh Abdullah bin Nasser Al Bakri, the sultanate’s Minister of Manpower, issued the new regulation, which will begin with immediate effect.

Over the last decade, the expat workforce in Oman has almost tripled, according to Oman’s National Centre for Statistics and Information. It has risen from 660,950 in 2007 to 1,825,603 people in 2016.

The decree does not include companies owned by employers wholly devoted to management of their establishments which are registered with the Public Authority for Small and Medium Enterprises Development and insured with the Public Authority for Social Insurance (PASI).

The Knowledge and Innovation Dirham Fee

January 29th, 2018

A new law aims to engage the community in supporting educational and cultural projects in Dubai.

The Knowledge Dirham Fee, set at AED10, will be levied on all transactions for government services in Dubai including federal government services whose revenues are allocated to the Public Treasury of the Government of Dubai.

The Innovation Dirham Fee aims to support innovation-related projects and involve the public in supporting innovation.

As per the law, Dubai government entities will charge an Innovation Dirham Fee of AED10 for all transactions.

The revenues generated from the Fee will be allocated to the Dubai Future Foundation (DFF). An Innovation Dirham Investment Committee will be established to explore opportunities for investing revenues from the Innovation Dirham, WAM added.

The Knowledge Dirham and Innovation Dirham will not be refunded when transactions are cancelled. The fees only apply to transactions of more than AED50.

Healthcare services provided by government entities are exempted from the Knowledge Dirham and Innovation Dirham, in addition to traffic fines for violations committed in Dubai which are collected in other emirates or other GCC countries, as well as fines for violations committed in other emirates or GCC countries collected by authorities in Dubai.

Cyber attacks doubled in 2017 – expect 2018 to be worse.

January 27th, 2018

Cyber attacks on businesses nearly doubled in the past year. A new report, the Cyber Incident & Breach Trends Report, released by the Online Trust Alliance (OTA) found 156,700 cyber incidents last year, compared to 82,000 in 2016. The OTA is a Internet Society initiative designed to improve online trust.

The organization believes that since a majority of cybersecurity attacks are never reported, the number of cyber incidents last year could actually be closer to 350,000. “Surprising no one, 2017 marked another ‘worst year ever’ in data breaches and cyber incidents around the world,” said Jeff Wilbur, director of the OTA initiative at the Internet Society. “This year’s big increase in cyberattacks can be attributed to the skyrocketing instances of ransomware and the bold new methods of criminals using this attack.”

The OTA claimed that most of the incidents could have been prevented easily – 93 percent of breaches could have been avoided by regularly updating software, blocking fake emails, and training people to recognize phishing attacks.

52 % of security incidents were the result of an actual attack.
15 % resulted from a lack of security software,
11 % were caused by credit card skimming,
11% resulted from companies not having controls to prevent employees’ negligent or malicious actions,
8 % were the result of phishing scams.

Electron is a node.js, V8, and Chromium framework created for the development of cross-platform desktop apps with JavaScript, HTML, and CSS, The Electron framework is popular and widely used by a range of desktop app services. Skype, Signal, Slack, Shopify, and Surf are among the users, A critical vulnerability affecting Electron desktop apps has recently been disclosed.

Regular patching has always been a best practice and neglecting it is a known cause of many breaches.

In 2017 the Equifax breach brought home that message

In 2018 a patching strategy needs to be integral to your processes because of the Spectre and Meltdown vulnerabilities reported (see our earlier posts) when it was highlighted that nearly every computer chip manufactured in the last 20 years was found to contain fundamental security flaws.

VAT key steps – Synergy Software Systems, Dubai.

January 8th, 2018

- Maintain regular accounting books and records

Account maintenance is now mandatory under UAE VAT Law and it facilitates the correct receipt and payment of cash and other transactions entered by a company. Audited accounts will be needed so don’t wait till year end to find an auditor that suits your business.

2- Make changes to the core processes and accounting departments

It is important to change your core processes and adapt your accounting departments to achieve tax compliance. For SMEs, with limited transactions, the task is easier as the transition is less likely to require significant systematic change or they might use an external bookkeeper or tax agent.

3- Train staff, especially financial management

Employees need proper insight around GCC-wide initiatives to implement VAT across the region and how companies should prepare. Help them de-mystify VAT by providing on the job training and a framework to raise and clarify queries. Avoid disputes with trading partners and ensure staff have the relevant information and training to resolve issues that arise.

4- Review your contracts and the contracts and conditions agreed with dealers

Many businesses negotiated contracts at a time VAT was not payable but running across the implementation dates. It is time to now bring contracts into step with the UAE’s economic context.

- Consider accounting software for bookkeeping

Electronic reporting systems are increasingly being used by tax authorities. The ability to produce the required audit file details on demand will be difficult without a system. Companies that use electronic invoicing are likely to improve the timing of VAT recovery on costs.

6- Adhere to VAT deadlines

Register your company to avoid a fine as severe as AED 20,000. The Federal Tax Authority (FTA) has already been extend the deadline to the 1st January and if you don’t complete VAT registrations you will also have to stop sales till you get your tax registration certificate (TRC).

Note initial returns are due 28 January 2018 so time is running out.

7- Study UAE tax legislation

The implementation of taxes in the UAE came with a whole new set of procedures. we recommend to study and get familiar with the different laws in place including the UAE VAT Law and to discuss with your auditor, tax agent and software provider.

8- Keep an eye out for new information

There have been a slew of clarifications in the last month and some details are still not finalised e.g. with regard to free zones, or which companies will report monthly and which quarterly.

G.C.C VAT transitional arrangements

December 17th, 2017

A​bout ​two​ ​weeks​ ​ago,​ ​H.E.​ ​Khaled​ ​Al​ ​Bustani,​ ​Director​ ​General​ ​of​ ​the​ ​Federal​ ​Tax​ ​Authority
(“FTA”),​ ​announced​ ​on​ ​the​ ​radio​ ​that​ ​the​ ​UAE​ ​will​ ​treat​ ​movements​ ​of​ ​goods​ ​between​ ​UAE​ ​and​ ​the
Kingdom​ ​of​ ​Saudi​ ​Arabia​ ​(“KSA”)​ ​as​ ​“Non-GCC”​ ​Exports​ ​(ie.​ ​when​ ​goods​ ​are​ ​shipped​ ​from​ ​the​ ​UAE​ ​to
KSA)​ ​and​ ​“non-GCC”​ ​Imports​ ​(i.e.​ ​when​ ​goods​ ​are​ ​shipped​ ​to​ ​the​ ​UAE​ ​from​ ​KSA).​ ​

This​ ​means that a ​transitional​ ​period​ ​will apply until​ ​an​ ​Electronic​ ​Service​ ​System​ ​is​ ​introduced​ ​and​ ​both
UAE​ ​and​ ​KSA​ ​consider​ ​each​ ​other​ ​as​ ​“VAT​ ​Implementing​ ​States”. It seems likely that will be both when the full G.C.C has introduced VAT and the electronic reporting system is established across the region.

U.A.E. VAT registration time is running out……..

December 17th, 2017

Companies in the UAE that have not got their tax registration number (TRN) yet will have to procure it within the next 14 days.

Companies who have not completed their VAT registration within the dates prescribed by the Federal Tax Authority (FTA) will have to pay a fine worth Dh20,000 and also stop sales until they get the TRN or tax registration certificate (TRC).

U.A.E. VAT rates

December 9th, 2017

The Federal Tax Authority (FTA) has announced the supplies that will be subject to Value Added Tax (VAT) as of January 1, 2018.Selected supplies in sectors such as transportation, real estate and financial services will be completely exempt from VAT, whereas certain government activities will be outside the scope of the tax system (and, therefore, not subject to tax). These include activities that are solely carried out by the government with no competition with the private sector, activities carried out by non-profit organisations.

The UAE Cabinet is expected to issue a decision to identify the government bodies and non-profit organisations that are not subject to VAT.

VAT treatment on select industries:
Education
Private and public school education (excluding higher education) and related goods and services provided by education institution 0%
Higher education provided by institution owned by government or 50% funded by government, and related goods and services 0%
Education provided by private higher educational institutions, and related goods and services 5%
Nursery education and pre-school education 0%
School uniforms 5%
Stationery 5%
Electronic equipment (tablets, laptops, etc.) 5%
Renting of school grounds for events 5%
After school activities for extra fee 5%
After school activities supplied by teachers and not for extra charge 0%
School trips where purpose is educational and within curriculum 0%
School trips for recreation or not within curriculum 5%

Healthcare:

Preventive healthcare services including vaccinations 0%
Healthcare services aimed at treatment of humans including medical services and dental services 0%
Other healthcare services that are not for treatment and are not preventive (e.g. elective, cosmetic, etc) 5%
Medicines and medical equipment as listed in Cabinet Decision 0%
Medicines and medical equipment not listed in Cabinet Decision 5%
Other medical supplies 5%

Oil and Gas:

Crude oil and natural gas 0%
Other oil and gas products including petrol at the pump 5%

Transportation:

Domestic passenger transportation (including flights within UAE) Exempt
International transportation of passengers and goods (including intra-GCC) 0%
Supply of a means of transport (air, sea and land) for the commercial transportation of goods and passengers (over 10 people) 0%
Supply of goods and services relating to these means of transport and to the transportation of goods and passengers 0%

Real Estate:

Sale and rent of commercial buildings (not residential buildings) 5%
First sale/rent of residential building after completion of construction or conversion 0%
First sale of charitable building 0%
Sale/rent of residential buildings subsequent to first supply Exempt
Hotels, motels and serviced accommodation 5%
Bare land Exempt
Land (not bare land) 5%
UAE citizen building own home 5% (recoverable)

Financial Services:

Margin based products (products not having an explicit fee, commission, rebate, discount or similar) Exempt
Products with an explicit fee, commission, rebate, discount or similar 5%
Interest on forms of lending (including loans, credit cards, finance leasing) Exempt
Issue, allotment or transfer of an equity or debt security Exempt

Insurance and Re-insurance:

Insurance and reinsurance (including health, motor, property, etc) 5%
Life insurance and life reinsurance Exempt

Food and Beverages: 5% VAT rate

Telecommunications and electronic services:

Wired and wireless telecommunications and electronic services: 5% VAT rate
Telecommunications and electronic services:
– Sovereign activities which are not in competition with the private sector undertaken by designated government bodies Considered outside VAT system
– Activities that are not sovereign or are in competition with the private sector VAT rate dependent on good/service ignoring provider

Not for Profit Organizations:

Activities of foreign governments, international organisations, diplomatic bodies and missions acting as such (if not in business in the UAE) Considered outside VAT system
Charitable activities undertaken by societies and associations of public welfare which are listed by Cabinet Decision Considered outside VAT system
Activities of other not for profit organizations (not listed in Cabinet Decision) which are not business activities Considered outside VAT system
Business activities undertaken by the above organizations VAT rate dependent on good/service ignoring provider

Free zones:

Supplies of goods between businesses in designated zones Considered outside VAT system
Supplies of services between businesses in designated zones VAT rate dependent on service ignoring location
Supplies of goods and services in non-designated zones VAT rate dependent on good/service ignoring location
Supplies of goods and services from mainland to designated zones or designated zones to mainland VAT rate dependent on good/service ignoring location

Other:

Export of goods and services to outside the GCC implementing states 0%
Activities undertaken by employees in the course of their employment, including salaries Considered outside VAT system
Supplies between members of a single tax group Considered outside VAT system
Any supplies of services or goods not mentioned above (includes any items sold in the UAE or service provided) 5%
Second hand goods (e.g. used cars sold by retailers), antiques and collectors’ items 5% of the profit margin

The UAE and Saudi Arabia are the two GCC member countries which will implement Value Added Tax (VAT) Reform from 1st January 2018 whereas the remaining member countries will implement over the coming years.

According to the UAE tax officials, it is anticipated that the new tax reform will help to generate nearly Dh12 billion (around 0.8 percent of GDP) revenue in the initial year after the introduction of the VAT. It might increase to Dh20 billion (around 1.2 percent of GDP) in the succeeding year (2019).