International entrepreneurs who want to start a business in Dubai may also need accounting services. This article outlines the key services offered by our accounting specialists, noting that assistance is provided from the start when a company is incorporated.
| Quick Facts | |
|---|---|
| Who requires accounting services in Dubai | Businessmen who want to perform their commercial activities in Dubai |
Applicable accounting legislation | International Financial Reporting Standards (IFRS) |
Types of accounting services we offer | – bookkeeping, – payroll, – annual financial statements, – tax returns, – debt monitoring |
| Tax advice and compliance (YES/NO) | Yes |
| We offer support for tax registration | Our accounting firm in Dubai can offer support for tax registration. |
| Financial planning for company owners | Entrepreneurs can benefit from dedicated financial plans offered by our experts. |
| Risk assessment and evaluation | For each type of company in Dubai |
| Types of audit services | – internal, – external, – financial, – operational, – compliance |
| Tax minimization methods available | Through: – tax credit planning, – charities, – retirement plans, – investments in mutual funds or trusts |
| Personalized financial consultancy services | Dedicated plans can be offered by our Dubai accountants. |
| Investment consultancy for high-net-worth individuals | On request |
| Financial and analysis reports for companies | On request |
| Human resources services available (YES/NO) | Yes |
| Expertise provided by certified accountants in Dubai (YES/NO) | Yes |
| Free case evaluation (YES/NO) | Clients can receive an evaluation made by our specialists. Tailored solutions are offered. |
Table of Contents
What types of accounting services do you provide in Dubai?
- Bookkeeping,
- Payroll,
- Audits,
- Preparation of annual financial statements,
- Tax returns,
- Debt monitoring,
- Risk management,
- HR services and many more.
What is the applicable accounting legislation in Dubai, UAE?
- International Financial Reporting Standards (IFRS),
- Federal Decree-Law No. 32 of 2021,
- Federal Decree-Law No. 41 of 2023.
Please also check this infographic with details on this subject:
Who regulates accounting in Dubai?
- Ministry of Economy in the UAE,
- Securities and Commodities Authority (SCA),
- Federal Tax Authority (FTA),
- Central Bank of the UAE (CBUAE).
Do you offer the services of a Certified Public Accountant (CPA) in Dubai?
Yes.
What does bookkeeping entail?
- tracking and recording all daily financial operations of a company in Dubai,
- daily financial data entry,
- keeping the general ledger, etc.
What does payroll entail?
- calculation of payroll taxes,
- salary tax payment,
- salary distribution in the firm,
- employee reporting,
- record maintenance, etc.
What are the payroll taxes in Dubai?
- no personal income tax,
- no social security taxes.
NOTE! There is an Involuntary Loss of Employment (ILOE) Insurance, such as:
- AED 5/month for basic salary under AED 16,000/month,
- AED 10/month for basic salary over AED 16,000/month.
What types of audits are available in Dubai?
- statutory financial audits,
- tax audits,
- internal audits,
- forensic audits,
- operational audits,
- compliance audits, etc.
How can you assist in preparing the annual financial statements for a company in Dubai?
We use:
- Income statement,
- Balance sheet,
- Reports,
- Cash flow statements,
- Notes, etc.
Can your accountants make company payments?
Absolutely! We align with the daily financial tasks of a firm.
What documents must be kept in a firm in Dubai?
- Accounting ledgers,
- VAT documents,
- Bank statements,
- Purchase invoice,
- Payroll records,
- Contracts, etc.
Do you offer tax consultancy services in Dubai?
Yes.
What is the corporate tax in the UAE?
9% for taxable profits exceeding AED 375,000/year.
Are audits compulsory for all companies established in Dubai?
No. Specific free zone companies are not subject to audits in Dubai.
What accounting software is used by accounting firms in Dubai?
Only the ones accepted by the relevant authorities, and here we refer to the official cloud-based accounting platforms.
Is company management in Dubai offered?
Yes, management strategies tailored to the needs of company owners are provided
How are accountants certified in Dubai?
Our chartered accountants are Certified Public Accountants (CPA) and have the necessary qualifications to provide a wide range of accounting services.
Is it beneficial to hire the services of an accounting firm in Dubai?
Yes, instead of creating a whole department, you should externalize the accounting services and enjoy the benefits.
Can foreign companies hire chartered accountants in Dubai?
Yes, foreign enterprises can benefit from the services of our experienced chartered accountants in Dubai.
Are there any precautions to consider?
VAT compliance and accurate financial reporting are important for companies operating in Dubai, UAE.
If you are interested in accounting services for your company in Dubai, please contact our team of accountants for more information.