UAE audit, accounting & tax questions—answered.

No single rule makes an external audit mandatory for every UAE business. The answer depends on the company law and legal form, its licensing authority or free zone, Corporate tax rules, and requirements from a bank, investor or shareholder. For Corporate tax purposes, audited financial statements are required for specified categories, including Qualifying Free Zone Persons and taxable persons whose revenue exceeds AED 50 million. Check the exact entity, financial year and intended recipient before appointing an auditor.

Requirements differ between free zones and can change by licence type, activity and year. Some authorities require an audit report or financial statements at renewal, while others have different filing rules. Check the current authority notice and whether your chosen audit firm is accepted for that jurisdiction. Corporate tax audit requirements should be assessed separately.

Start with the trade licence and constitutional documents, prior-year statements, trial balance and general ledger, bank statements and reconciliations, sales and purchase ledgers, receivables and payables, inventory and fixed-asset records, payroll, related-party balances, and tax returns. The auditor will request more evidence based on material balances, the business model and the reporting framework.

An external financial-statement audit gives an independent opinion on financial statements under the applicable auditing standards. Internal audit examines governance, risk and controls and reports findings to management or the board. An internal audit report does not replace a statutory external audit report when a regulator, free zone or bank requires one.

Timing and fees depend on entity size, transaction volume, record quality, number of locations or entities, reporting framework, complexity and the deadline. Reconciled accounts and complete supporting documents reduce avoidable queries. SAIF scopes the reporting period, recipient and deliverables before quoting; there is no reliable universal price or completion promise.

Bookkeeping records and reconciles transactions such as invoices, payments and bank movements. Accounting applies policies and adjustments to those records and turns them into financial statements, management reports and tax information. Reliable advice and reporting depend on the underlying books being complete and correctly classified.

Yes, subject to reviewing the existing records and agreeing a scope. A catch-up project usually starts with the bank accounts, invoices, opening balances and prior filings. We identify gaps, reconcile the periods and distinguish corrections to the books from any separate VAT or Corporate tax disclosure that may be needed.

The service can include transaction recording, bank reconciliations, payables and receivables, payroll inputs, management reports and year-end preparation. The actual package, reporting frequency, source-system access and responsibility for approvals are defined in the proposal. Audit independence is assessed separately if the same group requests an external audit.

No. SAIF is an authorised partner for Zoho Books and Odoo, and our accounting team also works with other accounting software and ERP systems. We choose the process and reporting design around the client’s operations, controls and existing platform rather than requiring every business to use one product.

No. The UAE electronic invoicing system uses structured invoice data that can be exchanged and reported electronically through the prescribed network and an Accredited Service Provider. A PDF, scanned image or email on its own is not an eInvoice under the Ministry of Finance guidance. Start by checking invoice data, customer details, credit notes and how your accounting or ERP system will connect.

The UAE is introducing e-invoicing in phases for in-scope business transactions. Under the published schedule, businesses with annual revenue of at least AED 50 million must implement from 1 January 2027; those below that threshold from 1 July 2027. The Accredited Service Provider appointment deadline for the first group was extended to 30 October 2026. Scope and exclusions, including business-to-consumer transactions, matter. Check the latest Ministry of Finance notice before setting a project deadline.

A useful pack often combines a profit and loss statement, balance sheet, cash-flow view, receivables and payables ageing, and a comparison with budget or prior periods. The measures should fit how the company earns revenue and uses cash. Management reporting supports decisions, but does not replace statutory financial statements or an audit.

For a UAE-resident business, mandatory VAT registration generally applies when taxable supplies and imports exceed AED 375,000 over the previous 12 months or are expected to exceed that amount in the next 30 days. Voluntary registration may be available above AED 187,500 under the FTA tests. Non-resident rules differ. Assess taxable transactions, not just the total shown on a trade licence or bank statement.

The tax period assigned by the FTA controls whether a business files monthly or quarterly; do not assume all businesses have the same cycle. The FTA says the VAT return and related payment are due within 28 days after the end of the tax period. Check the dates in EmaraTax and reconcile the return to the accounting records before submission.

No. A free-zone licence by itself does not make all supplies VAT-free. The treatment depends on the goods or services, place of supply, movement of goods and whether a designated-zone rule applies to the particular transaction. Assess VAT registration and invoicing based on what the business actually does.

A VAT credit shown on a return is not automatically a cash refund. The business must check input-tax entitlement, reconcile the credit and assemble invoices and other evidence before requesting a refund through the FTA process. The FTA may ask for further information or review the claim.

First establish the affected period, amount, cause and supporting documents. A correction may belong in a later return or require a voluntary disclosure, depending on the rules and the facts. Do not alter prior records without a documented reconciliation and an assessment of the appropriate FTA route.

No. VAT and Corporate tax are separate FTA registrations, with different tax registration numbers, obligations and filing cycles. A taxable person should check its Corporate tax registration deadline even if it already has a VAT TRN, makes a loss or operates in a free zone.

For an ordinary taxable person, the general rate is 0% on taxable income up to AED 375,000 and 9% on taxable income above that amount. Taxable income is not necessarily the same as accounting profit or revenue. Qualifying Free Zone Persons and certain large multinational groups can have different rate rules; assess the taxpayer before applying a headline percentage.

A loss or income below the 9% threshold does not by itself remove a taxable person’s registration and filing obligations. Identify the legal person, applicable registration deadline, tax period and any exemption before deciding what to submit. The accounting loss may also need tax adjustments.

No. A free-zone licence alone does not establish Qualifying Free Zone Person status. The 0% rate can apply to qualifying income only where the relevant conditions are met; taxable income that is not qualifying income can be taxed at 9%. Activities, customers, substance, audited statements and the de minimis rules need an entity-specific review.

The general rule is to submit the return and pay any Corporate tax due within nine months after the end of the relevant tax period, unless the FTA specifies otherwise. For example, a 31 December year-end ordinarily leads to a 30 September deadline in the next year. Confirm the period and deadline in EmaraTax.

Transfer pricing concerns the prices and terms used in transactions with related parties and connected persons. UAE Corporate tax rules apply the arm’s-length principle; the nature of documentation and disclosure depends on the taxpayer and transactions. Start with the actual agreements, functions, assets, risks and financial evidence—not a benchmark percentage chosen in isolation.

A benchmarking study can support the arm’s-length pricing of a material related-party transaction when a reliable comparable is needed. Not every transaction needs the same database search or report. The appropriate analysis depends on the transaction, available internal comparables, selected method and applicable documentation requirements. We first map the related parties and commercial terms, then decide what evidence is proportionate.

Depending on the transaction and method, a study may compare prices, margins, interest rates or other financial measures with sufficiently comparable independent transactions or businesses. The work includes screening, checking functions and risks, considering adjustments and documenting why comparables were accepted or rejected. A market average without that analysis is not a defensible arm’s-length conclusion.

They are related but not identical. Salary benchmarking examines remuneration for a defined role, responsibilities and market; transfer pricing examines terms of a controlled transaction under the applicable tax rules. Owner or director pay may also raise connected-person and deductibility questions. The role, actual duties, approval records and comparable pay evidence should be considered before using a headline salary survey figure.

SAIF supports external and internal audit, accounting and bookkeeping, VAT and Corporate tax, transfer pricing, financial reporting and business advisory. The right engagement depends on the entity, recipient, deadline and records available. Specialist work such as an audit and bookkeeping may need separate teams or providers to protect independence.

SAIF Chartered Accountants is an FTA-registered tax agency under Tax Agency Number 30004113. That is the agency number, not an individual tax agent’s listing number. The appropriate agent and scope are confirmed for the particular VAT or Corporate tax matter.

We can help assess the business model, compare relevant licensing routes, coordinate agreed formation steps and plan post-licence accounting and tax. Government approvals, bank onboarding, immigration and legal advice follow their own processes; a trade licence is not a guarantee of a bank account or visa.

We can scope the accounting, final statements, tax deregistration and audit-related work needed for a closure, alongside the licensing authority and any legal or liquidator requirements. The sequence depends on the legal form, outstanding liabilities, employees, tax registrations and authority.

Tell us the service, entity and licensing authority, reporting period, deadline and state of the records. We will identify the likely scope, requested documents and next discussion. A written proposal should distinguish professional work from government, free-zone or third-party charges.