Accounting and Taxation in Dubai
Every business, small or large, needs a bookkeeper and an accountant to manage their finances. Financial management of a business is the most challenging part of any business. In order to obtain your professional license from DED for your bookkeeping company in Dubai, you will need to submit a number of important documents, proofs, certificates and various government forms, otherwise you will be hampered in making financial transactions. This requires the help of the best accounting firms in the UAE, who can guide them throughout the accounting process so we provide this service to you. Assurance services are one of the most important services that you, as a business owner or entrepreneur, cannot avoid to track your business. The current tax system has led to an unprecedented demand for accounting firms, especially those who offer integrated solutions to their clients, thereby enabling the business to further expand and expand the scope of accounting and bookkeeping each day to start a business in Dubai.
Financial management is one of the key points for a business to succeed. This is more than just bookkeeping and balancing business accounts. Financial decisions must be made through careful analysis of the financial market and the method of analysis that allows a business to obtain financial statistics. Identify production opportunities. With our internal auditing, we work more closely to improve the financial performance and management of our clients. In today’s corporate governance and more strategic internal audit environment.
An audit has three main categories:
- Internal Audit Service
- External audit service
- Statutory Audit Service
Benefits of starting an accounting and Bookkeeping Company In Dubai
- Assurance to investors and partners
- You can gain more confidence
- Future extension
- Staff Behavior
- Determine profit or loss
- Increases self-esteem
What is VAT? How important is this in the UAE?
VAT is the consumption tax levied on products based on value at each stage of sales. Value increases starting from the raw material and moving towards the final retail purchase. In some countries, VAT is also known as Goods and Services Tax (GST). Along with industry experience, our tax experts advise businesses across all tax challenges and support them in adhering to tax compliance and progress towards a sustainable tax strategy.
UAE VAT Registration and VAT Accounting
Registration of business entities for VAT depends on the income generated by the business so you need to keep your records accurate. When the registration process is complete, the registrar will receive a TRN number through which you will receive other information. This number will be available only after the completion of the VAT registration process. This is an indispensable rule that every company in the UAE must have a TRN number. Let’s take an in-depth look at what a TRN is and how it was obtained. Tax enforcement in the UAE is a recent law that requires new litigation and related tax services for companies. With the new UAE tax rules, all companies will be required to obtain VAT and accounting services in Dubai and across the UAE. If your company is to succeed in its business planning, it must have a tax planning strategy. Tax planning is about ensuring tax efficiency. This is an essential part of a financial plan. In order to reduce the amount of tax paid over a period of time, various strategies need to be implemented in tax planning. Reducing these liabilities means that it can be used for other purposes, such as spending, investment or money for growth.
Our tax-related services include:
- Tax agent
- VAT implementation
- VAT registration
- Excise tax registration
- VAT return filing
- VAT advice
- Excise Tax Advisory
- International tax
- Tax audit
Before applying for vat registration, the following documents are required in soft copy to continue the vat registration process.
- Authorized signatures or identification documents of the company owner
- Business activities of companies
- Turnover for the previous 12 months is calculated
- Expected sales
- Expected values of imports and exports
- Do you want to engage with GCC suppliers
- Do you expect GCC to interact with customers
- Custom registration number if registered
- Bank account details
- The estimated value of imports for one year
- Supporting documents for customs registration in each emirate, if applicable.