Accounting Services
Quality management of accounting and tax records, and minimization of international and internal taxes
Accounting and tax accounting are mandatory parts of any business. The Insight team provides outsourcing accounting services for all companies registered in the UAE (Mainland, Free Zone, and Offshore companies).
Specialists will help you organize financial records and operations, take care of all accounting tasks to ensure accuracy and compliance with local laws and regulations, allowing you to focus on business development.
We will help you solve the following tasks in the field of
accounting and reporting, taxation:
01
Tax and Accounting Management
Recording business transactions, preparation and timely submission of tax returns, consultation on tax legislation.
02
Recovery of Tax and Accounting Records
Required for companies where accounting has not been conducted for a long time.
03
Registration for Tax and Corporate Tax
Registration as a VAT payer with the FTA (Federal Tax Authority) in the UAE, obtaining a tax number and access to the taxpayer portal.
04
Preparation of Tax Accounting Policy, Configuration of Accounting Systems
We will prepare a tax accounting policy and, together with representatives of the program in which the client wants to keep accounting, configure it.
05
Consultations on Tax Optimization
Consultation on reducing the tax burden on business in the UAE.
06
Conducting Audits – Internal and External
Preparation of an audit report for the company, including an annual report.
07
Development of VAT Accounting Policy
We will create a detailed VAT accounting plan for your company in accordance with the requirements of UAE legislation and taking into account the specificity of the business.
08
Formation of Tax Groups
Creation or joining of a tax group in the UAE for consolidated reporting.
09
Confirmation of Economic Presence
Confirmation of the fact of conducting operational activities, the presence of a management center, and the tax affiliation of the company to the UAE.
10
Registration/Deregistration for Excise Tax
We are confident in the quality of our services, so our clients trust us with the most important financial matters.
Cost
Company Accounting Management
from 1,000 AED per month (from 275 USD)
Company Registration as a
VAT Payer
from 1,500 AED (from 400 USD)
Company Registration as a Corporate Taxpayer
from 1,000 AED (from 275 USD)
Audit
from 5,000 AED (from 1,365 USD)
A package of services is more profitable!
Elementary
For organizations that have not yet started financial activities.
Includes monthly salary accrual to the director, preparation of payroll and payment sheets
from 1,000 AED (from 275 USD)
Minimum
For organizations that are just starting their activities.
Includes: reflection of incoming/outgoing documents and bank statements (up to 10 transactions per month); accrual of salary to employees (up to 2 people), preparation of payroll and payment sheets (monthly), bank reconciliation, acts of reconciliation of mutual settlements, month-end closing
from 3,000 AED (from 820 USD)
Standard
For small organizations that are VAT payers.
Includes: reflection of incoming/outgoing documents and bank statements (up to 20 transactions per month); accrual of salary to employees (up to 3 people), preparation of payroll and payment sheets (monthly), bank reconciliation, acts of reconciliation of mutual settlements, month-end closing, formation and submission of VAT declaration (quarterly), report on accounts receivable and payable (quarterly upon customer request)
from 5,000 AED (from 1,365 USD)
Maximum
For large organizations.
Includes: reflection of incoming/outgoing documents and bank statements (up to 30 transactions per month); accrual of salary to employees (up to 10 people), preparation of payroll and payment sheets (monthly), bank reconciliation. acts of reconciliation of mutual settlements, month-end closing, formation and submission of tax reports (quarterly), report on accounts receivable and payable (quarterly upon customer request), preparation of financial statements (balance sheet, profit and loss statement, statement of cash flows)
from 9,000 AED (from 2,460 USD)
Advantages of Accounting Management with Insight
Cost Savings
Hiring professionals in accounting and taxation as part of the company`s staff is significantly more expensive than outsourcing accounting.
Individual Approach
We strive to fully meet the needs of each client and answer all their questions. You can ask any questions of interest in the chat with our specialists and receive professional advice at any time.
Reliability
Our specialists have high qualifications and experience in accounting and tax accounting for companies of various profiles and know how to solve any, even the most complex issues.
Taxation in the UAE: What You Need to Know About the Country`s Tax System
The UAE has a unique tax regime, creating favorable conditions for doing business. Historically, the UAE is known for its policy of zero taxation, but in 2018, a landmark tax reform was implemented, introducing the Value Added Tax (VAT) system. VAT is levied at the standard rate of 5%, with some goods and services either exempt or taxed at a zero rate.
Who is exempt from VAT?
- Mainland companies if income from dealing with clients in the UAE does not exceed AED 375,000 per year;
- Qualified residents of free zones if certain requirements are met.
Voluntary registration for VAT reporting with the Federal Tax Authority (FTA) in the UAE is possible with a turnover of AED 185,000.
For turnovers exceeding AED 375,000, such registration for obtaining a tax registration number (TRN) is mandatory.
Company obligations for reporting include:
- Quarterly reporting to the FTA (Federal Tax Authority)
- Monthly reporting for companies with a high volume of transactions
Companies are also required to provide tax invoices to their counterparts for payment.
Our team of consultants has in-depth knowledge of VAT compliance, allowing clients to optimize their operations and reduce associated burdens.
Get detailed information about corporate tax prepared by our specialists!
Since June 2023, a new corporate tax law has come into effect in the UAE, introducing corporate tax and imposing obligations (such as filing tax returns) on all companies registered in the UAE, even if they are registered in free economic zones.
All companies are required to register for corporate tax and obtain a corporate tax registration number.
The corporate tax rate is 9% on taxable income exceeding AED 375,000.
The requirements apply to everyone, but for some individuals, a 0% rate may apply:
- Qualified free zone residents (i.e., residents meeting certain requirements, including requirements for substance and transfer pricing) regarding "qualified" income (e.g., income from transactions with companies outside the UAE).
Which companies are required to submit financial statements?
Maintaining accurate financial statements is crucial for any enterprise. Accounting standards in the UAE comply with International Financial Reporting Standards (IFRS), providing a globally recognized financial reporting system.
Many companies (e.g., registered in Meydan, Dubai Internet City, Dubai Media City, and many other Free Zones) are required to submit annual audit reports.
Insight will help you maintain accounting and tax records and submit reports in full compliance with UAE law.
