Ensure Legal Compliance
Keep abreast with and adhere to the UAE's constantly evolving tax and accounting regulations.
Ensure Legal Compliance
Keep abreast with and adhere to the UAE's constantly evolving tax and accounting regulations.
Avoid Tax Penalties
Keep track of your tax returns to prevent fines for incomplete or late filing.
Avoid Tax Penalties
Keep track of your tax returns to prevent fines for incomplete or late filing.
Achieve Business Growth
Obtain precise financial estimates and projections to assist you in setting and achieving your objectives.
Achieve Business Growth
Obtain precise financial estimates and projections to assist you in setting and achieving your objectives.
Track Financial Performance
With precise and timely reporting, you can see a clear picture of the financial health of your company.
Track Financial Performance
With precise and timely reporting, you can see a clear picture of the financial health of your company.
Bookkeeping Services
Corporate Tax Services
VAT Services
Payroll Services
Financial Reporting
Account Reconciliation
Accounts Payable & Receivable
Audit Support
Save Recruitment Costs
Outsourcing your accounting is a more affordable choice than managing your accounting needs internally.
Focus on Your Business
Without a doubt, you would prefer to concentrate on the essential elements of your company rather than managing your funds.
Avail Accounting Expertise
You can trust that your finances are in capable hands when you work with our accounting firm.
Receive Additional Services
You have the option to hire us to handle your accounting needs going forward if you require any further services.
Financial Records Are Organized.
Financial Growth is Tracked.
Business is Compliant With UAE Laws.
Tax Returns Are Filed on Time.
Ongoing Accounting Needs Are Met
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IBAN : AE7123456789 1234 1234 123
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ABU DHABI COMMERCIAL BANK
The International Financial Reporting Standards, or IFRS, have been embraced by the UAE as accounting guidelines. The UAE’s bookkeeping and accounting laws are based on these standards. IFRS establishes rules for transparent financial information presentation.
- Organizations in Dubai and other UAE regions are required by IFRS to keep their financial statements and other records on file for a minimum of five (5) years. Under the VAT laws, you have to keep relevant financial records for five years, whereas the corporate tax laws say that you have to keep them for seven years.
- Federal statutes permit the records to be kept in an electronic format.
- To provide accurate information about the profits and losses of the company, the yearly accounts must be prepared in accordance with IFRS principles.
- Bank statements that provide the transaction’s nature, amount, and other pertinent information must accompany every bank transaction.
The company tax laws in the United Arab Emirates stipulate a period of seven (7) years. A company’s pertinent financial records must be kept on file for a minimum of five (5) years, per UAE VAT legislation.
The following must be included within your company’s financial records:
• Income statements
• Balance sheet
• Cash flow statements
AED 10,000 in fines will apply if accounting records are not produced. The competent authorities will impose a fine of AED 50,000 if the offense is committed again.
Financial accounts of mainland businesses registered under the Federal Law on Commercial Companies must be audited. Depending on the free zone in which the company is located, financial audits for free zone enterprises may or may not be necessary. In the UAE, offshore companies are required to have audited financial records, but they are not required to turn them in to the government.
Below mentioned are the five (5) main types of reconciliations:
• Bank reconciliation
• Customers reconciliation
• Vendor reconciliation
• Intercompany reconciliation
• Inventory reconciliation
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