At Business Without Borders, we provide reliable and timely accounting and bookkeeping services tailored to your business needs. Our team ensures your financial records are accurate, compliant, structured to support clear reporting and better decision-making and we make sure that it will integrade with your Corporate tax and VAT filing of returns in the UAE.
What is Accounting & Bookkeeping?
The Foundation of Sound Financial Management
Bookkeeping is the process of recording all financial transactions—such as sales, purchases, receipts, and payments—on a consistent basis. It provides an organized and accurate record of your daily business activities, allowing you to monitor cash flow, assess financial stability, and maintain orderly financial records required for audits and tax submissions.
Accounting builds upon bookkeeping by analyzing, classifying, and summarizing this financial data to prepare meaningful reports—such as income statements, balance sheets, and cash flow analyses. It also encompasses tax calculations, budgeting, and forecasting, all of which are crucial for compliance and growth planning.
At Business Without Borders, we integrate both functions to give you a complete financial picture—ensuring you're not just keeping up with the numbers, but using them to drive smarter business decisions and long-term success.
An Audit Report in the UAE is a formal document from an independent auditor stating whether a company's financial statements present a "true and fair view" of its financial position in compliance with UAE laws and accounting standards. These reports are legally required for many UAE mainland and free zone companies to renew their licenses and are used by stakeholders like investors and lenders to assess the company's financial health. The report includes the auditor's opinion, which can be unqualified (clean), qualified, adverse, or a disclaimer of opinion.
In the UAE, VAT stands for Value Added Tax, which is a general consumption tax on the use of goods and services. It was introduced on January 1, 2018, as part of the government's strategy to diversify its revenue sources away from oil dependency and support the provision of high-quality public services.
Key Details of VAT in the UAE:
Rate: The standard VAT rate is 5% and applies to most goods and services.
Mechanism: VAT is levied at each stage of the supply chain (production, distribution, etc.), but the final cost is ultimately borne by the end consumer at the point of sale.
Business Role: Businesses registered for VAT act as tax collectors for the government (specifically the Federal Tax Authority, or FTA).
Registration Thresholds: Businesses must register for VAT if their taxable supplies and imports exceed a mandatory threshold of
AED 375,000 annually. They may register voluntarily if their turnover or expenses exceed
AED 187,500
UAE Corporate Tax (CT) is a new direct tax levied on the net income or profits of corporations and other entities resulting from their business activities. It was introduced by the UAE Ministry of Finance to align with international standards for tax transparency and to diversify the national economy away from oil revenues.
Key Details of the UAE Corporate Tax
:
Tax Rate: The standard federal corporate tax rate is a competitive 9% on taxable income that exceeds a threshold of AED 375,000. Taxable income up to and including this threshold is subject to a 0% tax rate to support small businesses and startups.
Effective Date: The CT regime became effective for financial years starting on or after June 1, 2023.
Scope: It applies to almost all businesses and commercial activities across all seven emirates, including those in Free Zones, unless specific exemption conditions are met.
In view of the above, we would like to offer our services at a very affordable prices to help you comply more easily with your tax obligations and record keeping:
1. VAT Registration
2. Corporate TAX Registration
3. Quarterly Filing of VAT Returns
4. Setting-up VAT Accounting System
5. Monthly Accounting support including assistance in quarterly filing of VAT Returns
6. Yearly Corporate Tax Filing of return
7. VAT De-registration
8. Corporate Tax De-registration
9. Financial Accounting & Bookkeeping Services
10. General Accounting Services
11. Accounting System Design & Implementation
