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Frequently Asked Questions​

FAQ

Frequently Asked Questions

What types of services do you offer?

We provide a range of tax and accounting services including VAT registration and filing, corporate tax advisory, bookkeeping, financial statement preparation, payroll management, audit support, and compliance consulting.

Is VAT applicable in the UAE?

Yes, Value Added Tax (VAT) at a standard rate of 5% is applicable in the UAE on most
goods and services. Businesses meeting the mandatory threshold must register for VAT with the Federal Tax Authority (FTA).

What is the corporate tax rate in the UAE?

As of June 1, 2023, the UAE introduced a federal corporate tax at a rate of 9% on taxable profits exceeding AED 375,000. Businesses earning less are exempt.

Who is required to register for corporate tax in the UAE?

All UAE-based businesses (except for certain free zone entities and government organizations) are required to register for corporate tax if they meet the applicable thresholds.

How can your firm help with FTA compliance?

We assist clients in maintaining proper financial records, preparing and filing VAT and tax returns, and ensuring full compliance with FTA regulations to avoid penalties.

Can you help with setting up accounting systems?

Yes, we help businesses set up accounting systems and software, train staff, and ensure that systems are aligned with UAE tax and financial reporting requirements.

Do you offer outsourced accounting services?

Absolutely. We offer full outsourced accounting and bookkeeping solutions, allowing you to focus on core business activities while ensuring your finances are in expert hands.

What are the penalties for late VAT filing in the UAE?

Penalties for late VAT filing or payment include a fixed fine and a percentage-based penalty on the unpaid tax. It’s critical to file and pay VAT on time to avoid these.

Can you assist with tax audits by the FTA?

Yes, we provide full support during tax audits including documentation preparation, representation, and response handling with the FTA.

Do you serve all Emirates in the UAE?

Yes, we serve clients across all Emirates including Dubai, Abu Dhabi, Sharjah, Ajman, Fujairah, Ras Al Khaimah, and Umm Al Quwain.

Let a Dedicated Tax Expert Do Your Taxes For You. Get A Consultation

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