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Maintaining accounting records for companies in the UAE
— All companies operating in the UAE are required to maintain financial (accounting) statements in accordance with International Financial Reporting Standards (IFRS).
Failure by a person conducting business or having tax obligations in the UAE to maintain the required records and other information specified by law is punishable by a fine of 10,000 AED for the first violation and 20,000 AED for a repeat violation.
Failure by a person conducting business or having tax obligations in the UAE to maintain the required records and other information specified by law is punishable by a fine of 10,000 AED for the first violation and 20,000 AED for a repeat violation.
Registration with the Tax Authority as a corporate tax payer within 3 months from the date of company registration.
Fine: 10,000 AED
Registration as a VAT payer upon reaching a turnover of 375,000 AED within a 12-month period.
Quarterly submission of VAT returns
Fine: 500 AED per month of delay.
Fine: 10,000 AED
Fine: 1,000 AED for the first violation; 2,000 AED for a repeat violation within 24 months.
Annual corporate tax return filing.
Additional responsibilities:
Consequences in case of violation:
Conducting a financial audit:
In some cases, companies require a mandatory financial audit; for example, to renew certain licenses, close a company, and so on.
Without proper accounting, it will be impossible to conduct a financial audit. Consequently, this will make it impossible to renew the license, close the company, or perform other necessary actions, leading to additional time and financial losses.
Furthermore, restoring accounting documentation and reporting for previous periods will cost significantly more than maintaining proper records from the beginning.
Without proper accounting, it will be impossible to conduct a financial audit. Consequently, this will make it impossible to renew the license, close the company, or perform other necessary actions, leading to additional time and financial losses.
Furthermore, restoring accounting documentation and reporting for previous periods will cost significantly more than maintaining proper records from the beginning.
The list of our services
- Recommendations on accounting and tax;
- Client consultations on the issues of registration and maintenance of primary documents;
- Accounting based on the primary documents provided by the client;
- Preparation and submission of VAT and Corporate Tax returns;
- General consultations on tax issues.
- Client consultations on the issues of registration and maintenance of primary documents;
- Accounting based on the primary documents provided by the client;
- Preparation and submission of VAT and Corporate Tax returns;
- General consultations on tax issues.
Accounting and tax accounting:
- Issuing invoices (bills for payment) upon the client's request;
- Creating payment orders in the client's online banking system.
- Creating payment orders in the client's online banking system.
Processing of primary documentation and payment orders:
- Registration in the WPS (Wages Protection System);
- Registration with a financial institution for salary transfers;
- Calculation and payment of employee salaries.
- Registration with a financial institution for salary transfers;
- Calculation and payment of employee salaries.
Calculation and payment of wages:
- Development of individual tax structures.
Individual tax consultations:
Efficient process
Prompt task completion and responsive communication with your accountant on all work-related matters.
Advantages of accounting
With our help:
With our help:
Affordable
prices
prices
Thanks to optimized processes, our services are significantly cheaper than maintaining a full-time accountant.
All services in one place
We provide comprehensive services to companies in the UAE, including accounting, taxes, personnel management, license renewal, visa processing, and more.
Confidentiality
We will keep your financial information confidential.
Find out the cost and other details
In order to find out the cost and other details or to proceed with the paperwork, leave a request in any way: specify your phone number and we will call you back or write to a convenient messenger.
Write your phone number
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Answers to questions:
In this case, registration with the corporate tax service and the submission of an annual zero declaration are required.
Accounting is required only if the company has financial activities.
Registration and submission of the VAT declaration is carried out only after reaching a turnover of 375,000 AED in 12 months.
Accounting is required only if the company has financial activities.
Registration and submission of the VAT declaration is carried out only after reaching a turnover of 375,000 AED in 12 months.
Find out the cost and other details
In order to find out the cost and other details or to proceed with the paperwork, leave a request in any way: specify your phone number and we will call you back or write to a convenient messenger.
Write your phone number
By clicking on the button, you agree to the terms of data processing and the privacy policy.
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