We’re a leading firm of chartered accountants & VAT/Tax advisers supporting entrepreneurs, high net worth individuals, family offices and growing businesses in UAE.
Tax accounting is the means of accounting for tax purposes. It applies to everyone—individuals, businesses, corporations, and other entities. Even those who are exempt from paying taxes must participate in tax accounting. The purpose of tax accounting is to be able to track funds (funds in as well as funds going out) associated with individuals and entities.
The accounting standards in the UAE are based on the standards set by the International Financial Reporting Standards (IFRS). The introduction of taxation system by the Federal Tax Authority (FTA), UAE has been carried out with the intention to diversify the regional economies and expand business reach globally.
When you lodge your return yourself, the responsibility falls squarely on your shoulders. No matter how innocent or small the mistake, if the Federal Tax Authority (FTA) comes knocking, you may have to deal with an FAT audit and there will be fines, interest or penalties to pay. One of the biggest advantages of using a tax accountant is that you get peace of mind. Choosing to lodge through an accountant ensures you’re compliant with tax laws and you can rest easy knowing your return has been accurately prepared.
If you choose to lodge with Alya Auditors, the buck doesn’t stop at tax time. We’re here 365 days if you need advice. Whether you’re starting a new business or catching up on late tax returns – we’re here for you.
Add value to your business by using the audit as a basis to identify and resolve commercial issues and to improve your business processes.
Reduce risk and improve your organisational performance by challenging existing assumptions and practices.
It will also highlight control weaknesses and let the business owner know if risk management processes are operating effectively thus increasing the efficiency of your business.
One thing’s for sure, all tax returns are unique. If you’ve got a complicated financial situation, getting the right advice can save you time, stress and unnecessary payments to the FAT. Sitting down with an accountant is an extremely beneficial exercise; crucial to working out the intricacies of your finances and what you’re entitled to claim.
If you’ve got several jobs, earn additional income through the sharing economy, run a business, own rental property or juggle an investment portfolio, using a tax accountant is definitely worth it.
Prepare all the accounts in an accounting software.
We will help you to find out the tax amount that you have to pay to the FTA.
We will make sure that all the supporting documents are prepared and maintained with respect to the tax laws in the UAE.
We will prepare all the relevant return forms as per the Tax laws in the UAE.
We will help to e-submit the relevant documents to FTA.