ACCOUNTING &
BOOK-KEEPING
Accounting
Accounting services in Dubai are a wide range of services that help businesses keep track of their finances, prepare taxes, and make informed financial decisions. Double-entry bookkeeping is a fundamental principle of accounting that requires all financial transactions to be recorded in at least two accounts. This ensures that the accounting records are accurate and that the business’s financial position is properly reflected.
Some of the most common accounting services in Dubai include:
Bookkeeping, Financial statement preparation, Tax preparation, Auditing, Consulting.
Book-Keeping
Bookkeeping is the process of recording and summarizing financial transactions. It is an essential part of accounting, and it is important for businesses of all sizes in Dubai. Bookkeeping helps businesses to track their income and expenses, and it can also help them to comply with tax laws.
There are two main types of bookkeeping: manual and automated. Manual bookkeeping involves recording transactions by hand, while automated bookkeeping uses software to do the work. Automated bookkeeping is becoming increasingly popular, as it is more efficient and accurate than manual bookkeeping.
Your success, our mission.
01 Accounting
02 Bookkeeping
03 Vat Services
04 Corporate tax
05 CFO Services
06 Auditing
Vat services
VAT compliance in Dubai made easy with our expert services.
- Value Added Tax (VAT) is a tax on goods and services. It is a consumption tax, which means that the final consumer of the goods or services bears the burden of the tax.
- The UAE introduced VAT on January 1, 2018. The standard VAT rate is 5%. There are also a few zero-rated supplies, such as exports and basic food items.
- Businesses that meet certain thresholds are required to register for VAT. The registration threshold for businesses with annual turnover of less than AED 375,000 is AED 187,500.
- VAT registered businesses must file VAT returns on a monthly or quarterly basis. The returns must be filed electronically through the Federal Tax Authority (FTA) website.
- VAT registered businesses must collect VAT on the goods and services they supply. They must then remit the collected VAT to the FTA.
- The FTA is responsible for administering the VAT system in the UAE. The FTA has a number of resources available to help businesses understand and comply with VAT regulations.
VAT registration in the UAE: Why your business should register.
Comply with government regulations
VAT is a government-mandated tax, and businesses that fail to register for VAT may be subject to penalties.
Avoid costly penalties
The penalties for non-compliance with VAT regulations can be significant. Businesses that fail to register for VAT or that fail to file VAT returns on time may be fined up to AED 50,000.
Claim input tax credits
Businesses that register for VAT can claim input tax credits on the VAT they pay on their purchases. This can save businesses money on their overall tax bill.
Improve cash flow
VAT can help businesses improve their cash flow by allowing them to collect VAT from their customers upfront. This can help businesses to meet their financial obligations and to grow their businesses.
Are you a business in the UAE that needs help with VAT compliance?
Our team of experts can help you understand and comply with VAT regulations, so you can avoid costly penalties.
CORPORATE
TAX
Corporate Tax is a tax levied on the profits of businesses. In the UAE, the standard Corporate Tax rate is 9%. However, there are a number of deductions and reliefs that are available to businesses to reduce their Corporate Tax liability.
Businesses in the UAE are required to file their Corporate Tax returns on a yearly basis. The deadline for filing Corporate Tax returns is 31st December of the following year. Businesses that fail to file their Corporate Tax returns on time may be subject to penalties.
The Federal Tax Authority (FTA) is responsible for administering Corporate Tax in the UAE. The FTA has a number of resources available to help businesses understand and comply with Corporate Tax regulations.
Benefits of Corporate Tax compliance in UAE
Penalties for non-compliance with Corporate Tax regulations in UAE
In addition to these penalties, the FTA may also take other enforcement actions, such as:
- Seizing assets: The FTA may seize assets of businesses that are not compliant with Corporate Tax regulations.
- Imposing a travel ban: The FTA may impose a travel ban on directors or shareholders of businesses that are not compliant with Corporate Tax regulations.
- Disqualification from government contracts: Businesses that are not compliant with Corporate Tax regulations may be disqualified from bidding on government contracts.
CFO SERVICES
CFO Services in Dubai: What You Need to Know
Are you a business owner in Dubai who is looking for help with your finances?
If so, you may want to consider hiring a CFO. A CFO, or Chief Financial Officer, is a senior-level executive who is responsible for the financial management of a company.
CFO services can offer a wide range of services, including:
Financial planning and analysis
CFOs can help you develop financial plans and track your progress. They can also help you analyze your financial data to identify areas where you can improve.
Tax planning
CFOs can help you with tax planning and compliance. They can help you identify tax deductions and credits that you may be eligible for.
Budgeting
CFOs can help you create and implement budgets. They can also help you track your spending and make sure that you are on track to meet your financial goals.
Financial reporting
CFOs can prepare financial reports that are accurate and compliant with regulations. They can also help you interpret your financial data so that you can make informed business decisions.
Risk management
CFOs can help you identify and manage risks to your business. They can help you develop contingency plans in case of unexpected events.
EXTERNAL
AUDITING
External auditing services in Dubai are a type of assurance service that helps organizations improve their financial reporting and internal controls. External auditors provide independent and objective assurance on the accuracy and completeness of an organization’s financial statements, and they also help to identify and mitigate risks to the organization’s financial reporting process.
External auditing services in Dubai can provide a number of benefits to businesses, including:
- Ensuring the accuracy and completeness of financial statements: External auditors can help to ensure that the organization’s financial statements are accurate and complete, and that they comply with applicable accounting standards.
- Identifying and mitigating risks to financial reporting: External auditors can help to identify and mitigate risks to the organization’s financial reporting process, such as fraud and errors.
- Providing assurance to management and stakeholders: External auditors can provide assurance to management and stakeholders that the organization’s financial statements are accurate and complete, and that the organization’s financial reporting process is effective.
INTERNAL
AUDITING
Internal auditing services in Dubai are a type of assurance service that helps organizations improve their governance, risk management, and control (GRC) frameworks. Internal auditors provide independent and objective assurance on the effectiveness of an organization’s GRC framework, and they also help to identify and mitigate risks.
Internal auditing services in Dubai can provide a number of benefits to businesses, including:
- Ensuring compliance with laws and regulations: Internal auditors can help businesses to ensure that they are complying with applicable laws and regulations.
- Identifying and managing risks: Internal auditors can help businesses to identify and manage risks to their operations.
- Improving efficiency and effectiveness: Internal auditors can help businesses to improve their efficiency and effectiveness by identifying and eliminating waste and duplication.
- Providing assurance to management and stakeholders: Internal auditors can provide assurance to management and stakeholders that the business is operating effectively and efficiently.
Location
Dubai, UAE
Office 103, A2
Naser Ahmed Saeed building
New Delhi, India
101 A, NH-19
Sidhartha Enclave,Hainagar Ashram
110014
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