News headline 1 : : The UAE's Ministry of Finance has listed out a number of entities that are not required to register for Corporate Tax. News headline 2 : : The ministerial decision on the Exception from Tax Registration will apply to government and government-controlled entities, extractive businesses, and non-extractive natural resource businesses. News headline 3 : : Additionally, a non-resident person will not be required to register for Corporate Tax if they earn only UAE-sourced income and do not have a Permanent Establishment in the UAE. News headline 4 : : Meanwhile, federal government, UAE government departments and authorities, and other public institutions, do not require to register under Federal Tax Authority as long as they continue to meet the conditions for tax exemption. News headline 5 : : Federal Tax Authority ramps up its efforts by expanding inspection visits by 104% in six months. News headline 6 : : Dubai Financial Services Authority Introduces Whistleblowing Regime News headline 7 : : Big update on UAE Corporate Tax. News headline 8 : : Regular Auditing and maintaining accounts have a greater contribution towards the successful running of a business. The lack of proper books of accounts and regular auditing often results in the business owners continuing to run the venture with the impression that it is going on profitably, while it might be running in loss. The realization comes late and the resultant damages are often irreplaceable. This is where a pragmatic approach to External Auditing services in UAE becomes inevitable. Every business needs the service of professionally qualified and experienced External Auditors in UAE to look into their accounting activities.


Accounting Tax Services Dubai, UAE

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Accounting plays a vital role in the growth of any organization. Be it a start-up or a well-established business entity every enterprise requires a solution for it.

Accounting services include a wide range of services. These are because of the multiple sub-categories which are discovered under accounting.

One of such categories includes tax accounting. The term ‘tax accounting’ means the accounting done for taxation. It has specific guidelines followed by individuals or any organization helping in filing a tax return.

It deals with the preparation, analysis as well as presentation of tax returns and tax payments. It is also known as cash-based accounting. The tax laws vary from country to country.

tax accounting services

UAE Federal Tax Authority and Tax Accounting in UAE Standards set by the UAE Federal Tax Authority and Tax Accounting in UAE deal with accounting. It is set as per the International Financial Reporting Standards (IFRS).

After the introduction of the taxation system by the Federal Tax Authority ( FTA), UAE has been carried out to diversify regional economies and expand its business reach globally.

Tax accounting has captured the global market. The international market knows the importance of tax accounting. This is one of the core reasons why Chartered accountants in Dubai have grown massively. Corporate Tax accountants have also been growing at a very fast pace.

The Federal Tax Authority UAE 2017 has taken a step toward initiating the registration process extended for tax agents as well as tax accounting software vendors in the Emirate.

tax accounting services

Importance of Tax Accounting Services

Till now we have witnessed and undergone the basic concepts of tax accounting. Payment of tax is a compulsion for any business. Even a minor fault can result in a fatal business loss.

Tax accounting is required for the tax domain which is required for individuals as well as for different businesses.

Now, let’s comprehend the significance of availing of tax accounting and the reason for tremendous growth:

  • ● International taxation
  • ● Economic taxation
  • ● Transfer pricing
  • ● Complete control over budgets
  • ● Provides a true picture of profit and loss
  • ● Enables faster decision making
Prime Services Dubai is one of the leading companies delivering the best and most effective tax accounting services in UAE.

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