Accounting Services

  FTA Tightens Penalties for Late VAT Reconciliation in the UAE The UAE Federal Tax Authority (FTA) has intensified its enforcement measures on late and inaccurate VAT reconciliation, signalling a stronger push toward compliance and financial transparency across the business landscape. This move comes at a time when the UAE is strengthening its overall tax ecosystem, especially with the integration of Corporate Tax and the anticipated rollout of e-invoicing. The FTA has announced that businesses failing to submit VAT returns on time will now face more immediate and higher penalties. The fine for the first late submission remains AED 1,000, but repeated delays may result in significantly increased charges. Authorities have emphasised that timely filing is essential for maintaining compliance and reducing discrepancies in national tax records. In addition to late submissions, the FTA is placing greater scrutiny on the accuracy of VAT reconciliation. Companies are now expected to m...

  UAE Strengthens Accounting & Auditing Oversight With New Compliance Actions The United Arab Emirates has reinforced its commitment to transparency, governance, and professional accountability in the accounting and auditing sector, following a year of intensified regulatory oversight by the Ministry of Economy and Tourism (MoET). According to the Ministry’s latest report, the Professional Compliance Committee for the Accounting and Auditing Profession reviewed multiple cases of professional malpractice between July 2024 and August 2025. The Committee issued 20 disciplinary decisions —including warnings, financial penalties, licence suspensions, and professional-practice restrictions—amounting to over AED 2.5 million in fines . The Committee’s review covered 23 confirmed violations , reflecting a broader national effort to elevate audit quality, enforce ethical standards, and strengthen investor confidence across UAE markets. The Ministry also highlighted significant profess...

  UAE Introduces Business-Friendly VAT Amendments to Support Compliance The Federal Tax Authority (FTA) has rolled out key amendments to the VAT regime designed to improve clarity, reduce administrative burdens and enable smoother business operations across sectors.  Key Highlights A revised penalty framework under Cabinet Decision No. 129 of 2025 will come into effect in April 2026, lowering fixed penalties for VAT and other tax law violations and aligning them across tax types (VAT, excise, corporate tax). Clarifications in the VAT Executive Regulation emphasise improved rules for registration/deregistration, profit-margin taxation, zero-rating of exports, input-tax apportionment and documentation standards.  The Ministry of Finance states that VAT remains at a 5 % standard rate and continues to support the UAE’s fiscal diversification objectives, while businesses are reminded of their record-keeping, registration thresholds and compliance obligations.  ...

  Tax Authorities Increasing Compliance Touchpoints Market regulators are tightening their net. Tax authorities across key jurisdictions are scaling oversight, broadening data-collection protocols, and intensifying filing reviews. The signal is clear: compliance is no longer a static obligation; it is a continuous engagement cycle. What’s Driving the Shift Authorities have activated stronger analytics, cross-agency data sharing, and automated monitoring to mitigate revenue leakage and enhance fiscal transparency. Corporate tax, VAT, ESR, transfer pricing, and refund-claims are now receiving higher-frequency scrutiny, with a clear expectation of documentary discipline and proactive reporting. Key Areas Under the Microscope Corporate Tax filings and supporting records VAT return accuracy and refund validation ESR compliance and substance demonstration Cross-border transactional mapping Transfer-pricing logic and benchmarking files Stakeholders who once treated c...

  UAE Ministry of Finance Launches “Retail Sukuk” Initiative  Opening Islamic Investments to All Residents The UAE Ministry of Finance has launched the Retail Sukuk (T-Sukuk) initiative, marking a milestone in the country’s journey toward financial inclusion and sustainable investment. This program enables both citizens and residents to directly invest in Shariah-compliant government bonds , previously accessible only to institutional and high-net-worth investors. With a starting point as low as AED 4,000 , it opens the door for everyday investors to participate in the nation’s growth through secure, government-backed instruments. The initiative reflects the UAE’s broader economic vision to diversify savings channels, deepen domestic capital markets, and promote ethical, asset-based financing in line with Islamic principles. Retail Sukuk offer investors stable, predictable returns derived from tangible assets rather than interest, aligning financial growth with moral values....