Dubai stands as one of the world’s premier destinations for establishing and growing a business, thanks to its business-friendly environment, tax advantages, and streamlined bureaucracy. Regardless of size—whether a start-up or a multinational corporation—every business needs reliable accounting to operate efficiently, optimize costs, and maintain compliance with legal regulations.
In this guide, we explore the landscape of accounting services in Dubai.
At VisaKingsDubai, we offer comprehensive corporate support services, from company formation and management to accounting, regulatory compliance, and more.
Our team comprises experienced professionals, including business consultants, financial advisors, certified accountants, legal experts, real estate agents, and market analysts. We assist clients in setting up and running businesses in Dubai and the UAE, ensuring they navigate the local business environment and regulatory frameworks effectively.
Our accounting services include:
Monthly bookkeeping and accounting services
Balance sheet and invoice preparation (on request)
Preparation of financial statements in compliance with IFRS and UAE regulations
Preparation of customized financial reports as required
Cost accounting and financial analysis
VAT and corporate tax registration
Corporate tax and VAT advisory services
VAT return filing
Reporting to tax authorities, banks, and other institutions
International tax advisory for UAE-registered companies operating abroad
Preparation and submission of audit reports
Expert consultancy on tax and compliance based on current legislation
Visiting accountant services for on-site support
Our specialists can advise you on a wide range of accounting and business matters, including:
Does my company need to pay VAT and corporate tax?
Can an offshore company obtain a tax registration number?
How can I optimize my tax liabilities?
How should I prepare VAT returns for the FTA?
How do I ensure my invoices meet legal requirements?
How do I avoid penalties related to accounting and tax non-compliance?
Am I liable to pay VAT if my business operations are overseas?
Get in touch with VisaKingsDubai today for a free consultation!
Accounting involves recording, analyzing, and reporting financial transactions for individuals or organizations. It ensures systematic tracking of financial activities and provides crucial data for stakeholders, regulatory bodies, and management teams.
The primary objectives of accounting are to:
Maintain accurate financial records
Monitor income and expenses
Comply with tax regulations
Reflect the true financial health of an organization
Accounting is essential for making informed financial decisions and promoting transparency and accountability. Different branches of accounting serve specific purposes:
Focus: Reporting financial information to external stakeholders.
Objective: Present an accurate view of a business’s financial status for investment, credit, and regulatory decisions.
Focus: Internal financial analysis for management decision-making.
Objective: Provide insights for budgeting, performance evaluation, and strategic planning.
Focus: Reviewing and validating financial records and internal controls.
Objective: Detect errors, fraud, and ensure regulatory compliance.
Focus: Tracking and analyzing costs of production and operations.
Objective: Help businesses manage costs and improve profitability.
Focus: Managing tax obligations and minimizing tax liabilities.
Objective: Ensure compliance with tax laws and maximize available deductions and credits.
Focus: Integrating accounting with information technology.
Objective: Facilitate efficient financial data management and support decision-making.
Additional services include business planning, forensic accounting, and feasibility studies.
Under UAE Commercial Companies Law (CCL), businesses, including free zone companies, must maintain complete accounting records for at least five years and comply with IFRS standards.
Many businesses outsource bookkeeping to professional firms, ensuring compliance while focusing on core operations—especially beneficial for SMEs.
Audits in Dubai are governed by CCL regulations and supervised by the UAE Ministry of Economy. Key elements of auditing include:
IFRS Compliance: Ensuring adherence to international accounting standards.
Regulatory Compliance: Verifying adherence to UAE regulations.
Internal Controls: Assessing risk management systems.
Tax Compliance: Confirming accuracy of tax filings.
Reporting: Preparing verified financial statements for stakeholders.
Audits must be conducted by licensed firms following standards set by the UAE Auditors and Accountants Association (AAA) and the International Federation of Accountants (IFAC).
From June 1, 2023, a 9% corporate tax applies to businesses with annual net profits exceeding AED 375,000. Profits below this threshold remain taxed at 0%.
Corporate tax affects both mainland and free zone businesses, although Qualified Free Zone Persons (QFZP) may benefit from special tax reliefs under specific conditions.
Companies must:
Register with the FTA within three months of obtaining a trade license
File a tax return annually, even if no tax is due
Certain entities, such as government bodies and investment funds, may be exempt. Businesses should consult tax advisors to ensure compliance.
Dubai follows a VAT system with a standard rate of 5%.
Businesses must register for VAT if annual taxable supplies/imports exceed AED 375,000. Voluntary registration is available at AED 187,500.
Once registered, businesses must:
Charge VAT on taxable goods and services
Maintain accurate VAT records
File VAT returns and pay dues on time
Non-compliance may result in significant penalties.
Accounting firms in Dubai range from international networks offering end-to-end services to local firms specializing in specific branches of accounting.
Businesses must decide between:
Outsourced Accounting: Cost-effective and efficient, ideal for SMEs.
In-house Accounting: Greater control, suited for larger organizations with more resources.
Depending on your business size and needs, popular accounting software solutions include:
QuickBooks
Xero
Zoho Books
Tally ERP 9
Sage 50
Wave
FreshBooks
MYOB
These tools assist with transaction management, invoicing, inventory, and more.
At VisaKingsDubai, we provide end-to-end corporate support, from company setup to day-to-day management, accounting, and regulatory compliance.
Our experienced team offers:
Monthly bookkeeping
Financial statement preparation (aligned with IFRS and UAE regulations)
Tax registration and consulting
VAT and corporate tax compliance
Audit services and on-site accounting support
We deliver personalized guidance tailored to the UAE’s evolving business landscape, helping your company grow efficiently and remain compliant.
Contact VisaKingsDubai today for a free consultation and learn how we can support your business success!
The brand name Visa Kings Global is used under licence by Visa Success Limited. Visa Success Limited is not a firm of solicitors and is not regulated by the Solicitors Regulation Authority. Visa Success Limited does not give financial, legal or tax advice.
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