UAE Regulatory Framework
Accounting Consultancy Services in Dubai For UAE Regulatory Framework
Understanding the regulatory landscape in the UAE is crucial for accounting consultancy services in Dubai. Tax accounting services in Dubai are more complex than regular bookkeeping services because the UAE has three different compliance obligations for businesses.
VAT Compliance
VAT at 5%
VAT compliance Dubai at 5% applies to supplies that are taxable and are more than AED 375,000 per year. VAT returns filing are to be submitted quarterly or monthly. Errors in VAT returns are subject to FTA penalties, which start at AED 1,000 for the first error and increase with each subsequent error, including incorrect input tax claims, failure to claim output tax, and late filing.
Corporate Tax UAE
9% from June 2023
As of the financial year starting from 1st June 2023, corporate tax UAE is imposed at 9% on profits made by businesses over AED 375,000. Free zone companies with qualifying income and without income from the UAE mainland enjoy a 0% corporate tax rate on qualifying income. One of the most frequent errors by general bookkeepers is to treat qualifying income as non-qualifying income.
ESR & IFRS
ESR & IFRS Reporting
Economic Substance Regulations (ESR) apply to UAE businesses in banking, insurance, investment fund management, lease-finance, headquarters, shipping, holding company, intellectual property, and distribution activities. The accounting standard that is required to be followed by UAE companies is IFRS reporting financial statements not prepared in accordance with IFRS are not acceptable for bank loan applications, investor due diligence, or free zone audit submissions.
Outsourcing Benefits
Why Businesses Choose Accounting Outsourcing Services in Dubai
Accounting outsourcing services in Dubai provide UAE businesses with an entire accounting function without the expense of employing, training, and keeping in-house accounting personnel. Skyway's accounting outsourcing services in Dubai include the entire accounting cycle for a fixed monthly fee, ranging from transaction recording to bank reconciliation, VAT returns filing, payroll, and management accounts.
Mainland LLC
5–15 Employees
A Dubai mainland LLC that has 5–15 employees is not required to have a full-time finance manager. The monthly retainer fee for professional accounting services in Dubai is 30–50% of the salary cost equivalent.
Free Zone E-Commerce
Multi-Currency
For a free zone ecommerce business that deals with multiple currencies, online accounting services in Dubai must be able to reconcile exchange rates in real time, which manual bookkeeping simply can't keep up with at scale.
Startups
Year 1–3 Growth
For a startup in its first year, the accounting and bookkeeping services in Dubai should be scalable to the number of transactions, rather than having to pay a fixed salary to a headcount that may not be warranted until year 2 or 3.
Online accounting services in Dubai are offered to businesses that are based in remote locations or have multiple offices in both the UAE and abroad. Online accounting services in Dubai at Skyway utilize cloud-based accounting software like Xero, QuickBooks, and Zoho Books to provide business owners with a real-time view of their financial situation without having to wait for the end-of-the-month report. Skyway's accounting outsourcing services in Dubai are offered on a per-month basis. The scope of your package is determined by your transaction volume, business activity, employee count, and VAT/corporate tax requirements.
Clients We Serve
Who We Serve: Accounting and Bookkeeping Services in Dubai
Skyway Corporate Services provides accounting and bookkeeping services in Dubai for a wide variety of businesses and business structures. Bookkeeping and accounting services in Dubai are not one-size-fits-all. The accounting strategy for a free zone trading company is not the same as for a professional services LLC in the UAE's mainland or an e-commerce enterprise with international suppliers.
Mainland
Mainland Companies
DED-licensed companies that need IFRS-compliant financial statements, VAT compliance Dubai, corporate tax UAE filing, and WPS payroll processing.
Free Zone
Free Zone Companies
They are required to submit audit-ready accounts and free zone authority compliance reports annually (IFZA, DMCC, JAFZA, RAKEZ, Meydan, and other free zone companies).
SMEs & Startups
SMEs and Startups
Companies that are less than 1–3 years old and require bookkeeping and accounting services in Dubai that grow with them without any fixed costs.
E-Commerce
E-Commerce Businesses
Multi-currency transaction reconciliation, platform fee accounting (Amazon, Noon, Shopify), and VAT compliance on digital goods and services.
Trading
Trading Companies
Import/export transaction accounting, trade finance reconciliation, inventory accounting, and accounts payable management for supplier networks.
Multinational
Multinational Businesses
Consolidated group reporting, inter-company transaction accounting, transfer pricing documentation support, and IFRS group financial statements.
Full Service Coverage
What Skyway Covers in Accounting Services in Dubai
The accounting services in Dubai at Skyway Corporate Services encompass all the accounting requirements a UAE-registered business is responsible for. Professional accounting services in Dubai go beyond transactional accounting; they encompass the entire compliance process, from setting up the chart of accounts to preparing financial statements ready for audit.
| Accounting Service | What It Covers |
|---|---|
| Financial statements preparation | Balance sheet, income statement, cash flow statement, and statement of equity prepared to IFRS standards |
| Management accounts UAE | Monthly and quarterly management accounts for internal decision-making and investor reporting |
| VAT compliance Dubai | VAT returns filing with the Federal Tax Authority (FTA), VAT registration, and input tax recovery |
| Tax accounting services in Dubai | Corporate tax UAE return preparation, FTA filing, 9% corporate tax compliance for businesses above AED 375,000 annual profit |
| Payroll services Dubai | WPS-compliant payroll processing, salary calculations, leave, and end-of-service calculations |
| Bank reconciliation | Monthly bank reconciliation across all accounts, multi-currency reconciliation for international businesses |
| Accounts payable and receivable | Supplier payment tracking, invoice management, debtor aging reports |
| Bookkeeping and accounting services in Dubai | Day-to-day transaction recording, general ledger maintenance, and trial balance |
| Budgeting and forecasting | Annual budget preparation, cash flow forecasting, and variance analysis |
| Fixed asset register | Asset tracking, depreciation schedules, and disposal accounting |
A statutory audit is required by a free zone authority or a lender, and Skyway Corporate Services Providers' network manages accounting and auditing services in Dubai.
Integrated Services
Accounting Services: An Essential Part of Your Full Corporate Services
Accounting services in Dubai at Skyway are not an isolated service that stands alone from your overall business financials. A purely accounting firm's professional accounting services in Dubai end at the trial balance. Accounting and bookkeeping services in Dubai are integrated with:
VAT and Corporate Tax Advisory
Your tax accounting services in Dubai are provided by the same team that can help you with VAT registration, VAT assessment responses, and corporate tax return filing.
Monthly Bank Reconciliation
It is a part of your accounting and bookkeeping services in Dubai, and is done with live bank data, not month-end statements, for real-time accuracy in your corporate bank account.
Business Setup and Company Formation
Accounting systems are established at the time of company formation, rather than after the first financial year has started.
SME Financing and Trade Finance
Management Accounts and Financial Statements prepared as part of Accounting Services in Dubai at Skyway are structured to facilitate bank financing applications and working capital facility applications.
Accounting consultancy services in Dubai within a larger corporate services company provides you with a single team responsible for the complete financial compliance landscape, rather than 3 different advisers who have never met.
Common Questions
Frequently Asked Questions
What are the services included in accounting services in Dubai for a UAE business?+
The accounting services in Dubai offered by accounting firms include financial statements preparation, VAT returns filing, corporate tax UAE compliance, payroll, bank reconciliation, management accounts, and bookkeeping. The scope is dependent on the size and structure of the business.
Are there any differences between accounting services in Dubai for free zone and mainland companies?+
Yes. For free zone companies, the accounting services in Dubai involve providing audit-ready accounts to the free zone authority on an annual basis. Companies on the Mainland need FTA-compliant VAT returns and corporate tax UAE filing. UAE corporate tax law also mandates certain accounting treatment for free zone qualifying income.
Online and outsourced accounting services in Dubai: what's the difference?+
Online accounting services in Dubai rely on cloud-based accounting software (Xero, QuickBooks, Zoho Books) to provide immediate access to financial information. Accounting outsourcing services in Dubai include the entire accounting cycle that is outsourced on a monthly basis. Both can be used at the same time.
Will Skyway support VAT and corporate tax with accounting?+
Yes. VAT returns filing with the Federal Tax Authority, corporate tax UAE return preparation, and ESR reporting (where applicable) are all part of the same tax accounting services in Dubai at Skyway, and not a separate engagement.
Do you offer accounting and auditing services in Dubai?+
In Dubai, where a statutory audit is mandatory, accounting and auditing services in Dubai are managed via Skyway's corporate services network. The audit-ready financial statements are prepared by Skyway, and the statutory audit is carried out by a registered UAE auditor.
How do I get started with accounting services in Dubai through Skyways CSP?+
The initial step in Dubai's accounting services from Skyway is a complimentary consultation. The team will assess your business structure, transaction volume, VAT status, and corporate tax requirements and confirm the scope and cost of accounting and bookkeeping services in Dubai before starting any engagement.
Schedule An Accounting Services Consultation
Accounting Services in Dubai by Skyways Corporate Services Providers
Accounting services in Dubai including financial statements, VAT compliance, corporate tax UAE, payroll, bank reconciliation, management accounts, and accounting and bookkeeping services in Dubai, are all offered by Skyway Corporate Services Providers.
Financial statements & IFRS
VAT & corporate tax UAE
Payroll & WPS
Online accounting (Xero, QuickBooks)