OUR SERVICES 

​Accounting

​THE BOOKS ​ : importance of maintaining accounts should not be underestimated as they integral in preparing management reports.
When a company finds that it is not economically feasible to hire a full time accountant, or needs to outsource part of their accounting functions in compliance with Federal Tax Authority's requirements to maintain proper books of accounts as per the guidelines issued by the authority under relevant laws and regulations made there under,  we could assist with our professional accounting services.

Annual audit 

The primary focus of the annual financial audit is to provide assurance to the investors that the financial statements are accurate. The auditing of your company is a positive process. It will help to enhance the confidence of other people, external parties, as well as stake holders on your company.
An Annual Audit Report is mostly needed for the compliances towards the business licensing authorities like Economic Department &  Freezone Authorities of the Dubai, Abu Dhabi, Sharjah, Ajman, Ras Al Khaimah, Fujairah & Um Al Quwain,  for compliance with financing arrangements from banks and financial institutions and other authorities in the due course of the business of any company registered in United Arab Emirates. 

DUE DATE FOR SUBMISSIONS 

30 November 2022 - DDA Annual Audit Submissions for the financial year ending 31 December 2021

Registrations

​​VAT REGISTRATION : We facilitate registration of companies, institutions and entities subject to value added tax with the Federal Tax Authority (FTA). Businesses that are required to register for VAT will need to set up an online account on the Federal Tax Authority's (FTA) website and complete the VAT registration form.
DE-REGISTRATION ​: A business must deregister under UAE VAT if their taxable supplies for the last 12 month is less than AED 187,500.
Latest updates 

VAT Submissions

It should be noted that,  " VAT Tax Return and payments must be submitted by the tax registrant companies to the Federal Tax Authority online no later than the 28th day following the end of the Tax Period of the respective company”.
VAT RETURNS : All the tax registrants must file VAT Returns who have been provided a TRN (Tax Registration Number) under UAE Value Added Tax law and regulations made there under.
VAT REFUNDS : We assist companies in the process of VAT refund following the VAT law, rules, regulations and refund conditions. ​
VAT VDS : We assist companies in the process of Voluntary Disclosure under UAE Value Added Tax.  ​
VAT AUDIT : Auditing services to verify the accuracy and correctness of VAT Returns generated from the financials management systems of the enterprises.

DUE DATE FOR SUBMISSIONS 

28 November 2022 due date for the submissions of the VAT Return 201 for the Tax Period 03-2023 ending 31 October 2022

Latest updates 

​EmaraTax – going live soon

Economic Substance Regulation (ESR) 

ESR ASSESSMENT : Self  assessment needs to be done for each financial year starting on or after 1 January 2019, and should take into account the activities undertaken by the Licensee at any time throughout the relevant financial year.​​
ESR NOTIFICATION :Entities that are within the scope of the Regulations are required to submit an annual Notification form to their Regulatory Authority
ESR RETURNS : ​Entities that earn income from their Relevant Activities are required to file an Economic Substance Report within 12 months from the end of the relevant financial period ​
SUBSTANCE TEST : Entities that carries out one or more of the Relevant Activities and derives income from the Relevant Activity in the UAE are also required to satisfy an economic substance test

DUE DATE FOR SUBMISSIONS 

The last date to submit the Annual ES Report for the financial year ending 31 December 2021 is  31 December 2022. 

Ultimate Beneficial Ownership Regulation (UBO) 

The UBO Regulations apply to mainland companies and companies incorporated in non-financial free zones such as Dubai Multi Commodities Centre, Jebel Ali Free Zone, Ajman Free Zone, RAKEZ, DAFZ, SAIF Zone, SHAMS, DDA etc.  The regulations exempt the companies based in the financial free zones in UAE like Abu Dhabi Global Markets (ADGM) and Dubai International Financial Centre (DIFC) as such companies are required to comply with the separate UBO requirements that are in place for such financial free zones.

Anti Money Laundering (AML) ​​

SELF ASSESSMENT :  Registration obligations under the goAML in UAE are on the DNFBP (Designated Non-Financial Businesses and Professions) based in mainland and free zone.
​REGISTRATION : Registration obligations under the goAML in UAE are on the DNFBP (Designated Non-Financial Businesses and Professions) based in mainland and free zone.
​COMPLIANCE : Registration obligations under the goAML in UAE are on the DNFBP (Designated Non-Financial Businesses and Professions) based in mainland and free zone.
​CONTROLS :  Registration obligations under the goAML in UAE are on the DNFBP (Designated Non-Financial Businesses and Professions) based in mainland and free zone.

CFO Advisory​

Stay ahead of competition with the expert CFO advisory services from the business performance review strategic financial planning.

iNSIGHTS

Image - Public Consultation Document Issued for UAE Corporate Tax - Gupta Accountants
As announced on 31 January 2022, the United Arab Emirates (UAE) will introduce a federal Corporate Tax on business profits that will be effective for financial years starting on or after 1 June 2023. On 28 April 2022, the United Arab Emirates Ministry of Finance released a public consultation document on the planned introduction of corporate tax in the UAE.
"WE AT GUPTA ACCOUNTANTS, ASSIST IN THE TIMELY AND CORRECT OBLIGATORY COMPLIANCES BY YOUR BUSINESS BASED IN UAE AND ADD VALUE BY REDUCING THE COST OF NON- COMPLIANCE​"
HEAD OFFICE 
PO Box 123 383 Dubai UAE 
T: +971 4 396 7982 
M: +971 55 9893299 
​E:  info@guptaaccountants.com 
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