Archive for February, 2022

Attackers compromising Microsoft Teams

February 19th, 2022

Security researchers at Avanan, a cyber security company warns that attackers are compromising Microsoft Teams accounts to slip into chats and to spread malicious programs to participants in the conversation.

Since January, hackers have accessed compromised accounts and shared executable files titled ‘User Centric’.

The file is a Trojan malware that can eventually take control of a user’s computer should a user click on it. The virus is usually hidden as an attachment in an email or a free-to-download file, then transfers onto the user’s device

Most users trust Microsoft Teams implicitly. However, Microsoft Teams is used both by professionals working from home for sharing files, or with invited external users, so users may click on files attachments with less regard to question the authenticity. 

Microsoft Teams surpassed 270 million monthly active users last month. The number of daily active users of Microsoft Teams have almost doubled the past year, increasing from 75 million users in April 2020 to 145 million as of the second quarter of 2021.

When working outside your secure corporate network on your own device you still need an antivirus program that scans and inspects files for malicious content.

Sr its an email or inside Microsoft Teams if are get sent a file, then before clicking on it make sure you carefully read the name of the file and file extension , and the details of who sent it . Contact your workplace’s IT department if you receive any strange files.

If you need to improv your security then ask Synergy Software Systems about Microsoft Defender and other tools like Kasperksy. Data security and data privacy is of increasing concern , and compliance with legislation is increasingly import for example for data privacy.

With Microsoft Defender for Oce 365 you are also protected within SharePoint, OneDrive, and Microsoft Teams. ATP (Advanced Threat Protection) for SharePoint, OneDrive, and Teams helps detect and block existing files that are identified as malicious in team sites and document libraries by locking them and preventing users from accessing such files.

https://www.microsoft.com/en-gb/security/business/threat-protection/office-365-defender

https://techcommunity.microsoft.com/t5/microsoft-defender-for-office/introducing-the-microsoft-defender-for-office-365-migration/ba-p/2952369

https://docs.microsoft.com/en-us/microsoft-365/security/office-365-security/migrate-to-defender-for-office-365?view=o365-worldwide

call: 0097143365589

New Commerce experience – ask Synergy Software Systems

February 15th, 2022

Microsoft is making major changes in its approach to its licensing. The wide-reaching changes are coming in under the title of the new commerce experience.

While many organisations will be focused on how this will impact on their Microsoft 365 and Office 365 licensing, changes have the potential to impact the pricing of Dynamics 365 and Power Platform for organisations.

What Is The New Commerce Experience?

The new commerce experience is an attempt, Microsoft says, to simplify its many licensing models.

Subscription licensing for Microsoft products has now existed for over a decade. Over this time, both the supplier model and licensing structures have sprawled as more and more products have been brought in to the model. As such, the new commerce experience is said to offer “a consistent, simplified, and flexible purchase experience for customers and partners”.

The new commerce experience is already in place for Azure services. However, the application of this approach to wider licensing will come at an additional cost to some organisations

Changes To Partner Models

In terms of the provision of licensing, most organisations purchase licensing from organisations linked to the Cloud Solution Provider programme (CSP). But in fact, there are actually six partner licence supply models at present.

This will now be folded into just three retail models:

Breadth motion – Designed for the SME market, this will span the bulk of the current CSP model.

Enterprise motion – Large organisations will now be able to purchase licensing from a Microsoft account manager.

Self-service motion – For organisations wishing to purchase their own licences.

These changes will simplify the overly complex partner model, though some partners will now find their enterprise customers will now transact with Microsoft directly.

Customer Licensing Subscriptions

For customers, the new commerce experience will see the emergence of three subscription models:

Monthly subscription:

  • Under this model, seats can be increased or decreased each month to meet the organisation’s needs.
  • However, the flexibility of this model will carry a 20% price premium.
  • Organisations would also not be protected from any future licence price rises.

12-month subscription:

Under this option, organisations commit to licences on a 12-month term.

Licences can’t be cancelled after the first 72 hours, and can only be terminated at the end of the 12 month term.

Licence numbers can be increased during the 12-month term (with pro-rata billing), but not decreased.

Organisations will not be exposed to price rises during their 12-month term.

36-month subscription:

This option commits customers to a 36-month term, with cancellation only available in the first 72 hours. Licences will be able to be reassigned, however.

Licence numbers can be increased on a pro-rata rate during the term, but not decreased.

Organisations will receive price protection from cost increases for the full 36-months.

Organisations will be able to mix and match licensing based on their requirements. However, the changes will mean that any organisation previously trying to operate on a flexible model will have to pay more for the benefit.

When Will The New Commerce Experience Come Into Effect?

Organisations can purchase licences from the new commerce experience now, but the new model will come into full effect from March 2022.

Any licencing purchased at or after this time is subject to the new model.

Any existing Microsoft licences will move over to the new model at their point of expiry. This is expected to be complete by February 2023.

In addition to the NCE, there will be a price increase that will take effect from 1st March 2022 for the following licences: 

  • Office 365 Business Basic – 20%
  • Office 365 Business Premium – 10%
  • Office 365 E1 – 25%
  • Office 365 E3 – 15%
  • Office 365 E5 – 8.5%
  • Microsoft 365 E3 – 12.5%

Microsoft is offering a 5% discount for annual Microsoft 365 commitments. The annual discount will be available until the end of March 2022. Committing to your licences before the end of March 2022 will not only allow you to benefit from the discount, but also avoid the price increase. 

To discuss your renewals or licensing options call us: 0097143365589

SQL Server 2012 end of life approaches

February 14th, 2022

Extended support ends July 22.  https://docs.microsoft.com/en-us/lifecycle/products/microsoft-sql-server-2012

Time to start planning your SQL Server 2017 and 2019 migrations, or to move to Azure, or to consider Extended Security updates.

Also consider migrating your erp or finance systems to the cloud or the latest on-premise release.

If your SQL server is an older version, then it is likely that you are also on an older versions of Windows server e.g. Windows 12 which is also nearing end of life and the options are similar to SQL 2012.

To discuss options call Synergy Software Systems 009714 3365589

U.A.E. to introduce Corporate Tax – 2023 -ask Synergy Software Systems

February 2nd, 2022

Background

The UAE has long positions itself as a place where foreign investors are welcome and where incomes are tax free. Low taxes and a friendly business environment helped to transform the 50-year-old nation.

The UAE faces steep competition from neighboring Saudi Arabia, which is working overtime to attract businesses and families to relocate to the kingdom

The UAE’s Finance Ministry said that it will aunch corporate tax in line with worldwide efforts to combat tax evasion and to meet issues posed by the global economy’s digitization,

The ministry also stated that the measure will prepare for the implementation of a worldwide minimum tax rate, which will apply a different corporate tax rate to large multinationals that meet certain conditions.

It was announced on Jan 31 that for the first time, the United Arab Emirates (UAE) will establish a federal corporate tax of 9% on profits on business profits on June 1, 2023,

  • Businesses engaged in the extraction of natural resources will be exempt from the UAE CT as such businesses shall continue to be subject to Emirate level taxation
  • The UAE CT shall be a Federal level corporate taxation. Thus, all UAE businesses, corporations and entities engaged in and licensed to undertaken commercial activities shall be subject to the UAE CT.
  • Corporate tax will be payable on the profits of UAE businesses as reported in their financial statements prepared in accordance with internationally acceptable accounting standards “with minimal exceptions and adjustments”, 
  • The corporate tax will not apply to personal income from employment, real estate and other investments, nor to income earned from a business licensed outside the UAE.

Introduction of Transfer Pricing

Under the CT regime, UAE businesses will be required to comply with transfer pricing rules and documentation requirements as set out in the OECD Transfer Pricing Guidelines

Free Zone Businesses

Free zone businesses will be within the scope of UAE CT and required both to register and to file a CT return.

Those businesses will however continue to benefit from CT holidays / 0% taxation while they comply with all regulatory requirements and do not conduct business in mainland UAE. 

Multinationals

The press release and FAQs indicate that there will be a different tax rate for large multinationals that meet the criteria under ‘Pillar Two’ of the OECD Base Erosion and Profit Shifting project (i.e. those that have consolidated global revenues above EUR 750m).

Tax basis

The Federal Tax Authority will be responsible for the administration, collection, and enforcement of CT.

Where a business is resident for CT purposes will be determined either based on the place of incorporation / registration (legal seat), or the place of effective management and control of the business.

To help small firms and entrepreneurs, the ministry further stated that the new system entails:

  • a basic statutory tax rate of 9%,
  • a 0% rate for taxable profits up to 375,000 dirhams, ( about $102,107.50 . )

CT will be payable on the accounting net profit reported in the financial statements of the business, with minimal exceptions and adjustments

Tax losses incurred from the CT effective date can be carried forward to offset taxable income in future financial periods.

No UAE CT will apply to:  

  • Employment income, income from real estate, income from savings, investment returns and other income earned by individuals in their personal capacity that is not attributable to a UAE trade or business;
  • Dividends, capital gains and other investment returns earned by foreign investors.  

Exemption from UAE CT will be available for: 

  • Capital gains and dividends earned from qualifying shareholdings; 
  • Qualifying intra-group transactions and restructurings.

Domestic and cross border payments of interest, dividends, royalties and other payments will not attract a withholding tax in the UAE.

UAE CT will have to be filed electronically once for each financial period but without a requirement for advance UAE CT payments on the basis of provisional tax returns. 

The tax scheme will allow UAE business groups to be taxed as a single entity or to apply for relief amid losses or restructuring. UAE group companies can form a tax group and file a single tax return for the entire group, and transfer tax losses to other members of the group.

Foreign tax credits will be available for taxation incurred by UAE businesses on income earned outside the UAE’s corporate tax to avoid double taxation.

The UAE CT regime should remain one of the most competitive in the world. The UAE will offer the most competitive CT regime in the region, with Egypt, Jordan, Kuwait, Lebanon, Oman, Saudi Arabia and Qatar imposing CT at rates between 10% to 35% (Bahrain currently does not have a broad based CT regime). 

The introduction of a UAE CT regime would enable the UAE to adopt and implement the OECD BEPS 2.0 measures to address the tax challenges arising from the digitalisation of the global economy, and the introduction of a global minimum tax rate for large multinationals.

What next?

The relevant legislation for the CT regime is currently being finalised and will be subsequently promulgated. Once promulgated, the UAE CT Law will provide more details and guidance on several critical aspects.

Further information is expected to be made available by mid-2022, to give UAE businesses at least 12 months to get ready.

Key considerations for UAE businesses

To prepare for the new corporate tax (CT) profile of the UAE consider an internal working team and whether auditor discussions are needed

Consider the application and impact of the new UAE CT Law on :

  • UAE entity(ies) and/or operations
  • Revenue booked under Mainland UAE versus Free Trade Zone setups
  • Economic substance profile and/or CbCR filings
  • Group structure
  • Inter-company transactions
  1. Investment/Holding structures
  2. Be prepared to adopt new tax and transfer pricing compliances (where applicable).
  3. Consider impact on share price and ability to raise finance
  4. Review IT systems and their configuration to support taxation, and budget for any external consulting resource to e.g. create filing returns reports, or to amend existing reports e.g. TB, cash flow.
  5. Consider whether there needs to be any changes to policies and training for the finance team.
  6. Consider a dry run pilot in a test system to ensure that you can produce timely accurate reports in the correct format.

(Most Dubai stocks fell in the Middle East on February 1 after the United Arab Emirates unveiled that it will be taxing corporate earnings from next year.

Moody’s said: “the introduction of the 9% federal corporate tax is broadly credit negative for domestic UAE corporates because it will reduce their operating cash flows.”)