Accounting

Make Fortune specialists provide qualified assistance on a contractual basis. We offer outsourced accounting services for companies registered both on the mainland of the UAE (Mainland) and in all free zones of the country, regardless of the type of activity.

Preparation of accounting reports

Value Added Tax (VAT)

Businesses operating in the UAE must register for VAT before reaching AED 375,000 in revenue

  • 0%
  • 5%
  • not taxed

There are two VAT rates in the UAE, as well as grounds for VAT exemption.

The VAT rate is determined depending on the type of company’s activity and the place where services are provided or goods are delivered.

Our Make Fortune experts will help you determine if your business is eligible for VAT.

Apply for a consultation, we take care of the rest!

Get professional help to do business in the UAE

From June 1, 2023, corporate income tax in the UAE came into force in accordance with the decree-law “Federal Degree Law No. 47 of 2022 on the Taxation of Corporations and Business”
  • 0%

  • 9%

    from 375,000 AED

Get advice on UAE corporate tax

Audit report

Due to the introduction of corporate tax from June 2023, every company in the UAE will be required to
provide an annual audit report
.

Make Fortune cooperates with independent certified audit companies in the UAE.

Our Russian-speaking experts will accompany your company in the process of obtaining an audit report.

Restoration of company accounting in Dubai / the UAE

If, for any reason, accounting has not been conducted for a long time,
Make Fortune specialists will assist you in resolving this issue. We maintain accounts using professional accounting software, file tax returns in strict compliance with UAE laws. Collaborating with us will help you avoid unexpected penalties.
The process of restoring a company’s accounting:

  • Getting primary information: recovery period and necessary
    documentation
  • We analyze the scope of work, agree on terms and costs
  • Perform the recovery process: reflect income and expenses, put on the balance sheet
    fixed assets and calculate depreciation, reflect debt obligations, investments, etc.
  • Prepare accounting reports:
    income statement, balance sheet,
    cash flow statement, acts of reconciliations of mutual settlements

Personal support

Make Fortune provides HR support for companies in Dubai / UAE

  • Apply for an employee visa
  • Insuring an employee
  • Registration of a company in the “System
    Payroll Protection (WPS)”*

Business support services

Registration of a company in the UAE
Opening a personal and corporate bank account
Registration of a resident visa for employees
HR support, secretarial services
Registration of a company as a VAT payer
Preparation of the annual audit report
Registration under the ESR procedure
Submitting a UBO return
Registration of a resident visa for family members, domestic staff
Acting as a director in the company
Support for the purchase of real estate in the UAE
Legal support

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    Our accounting partners

    Frequently Asked
    Questions

    What's the tax situation in the UAE?

    For both individuals and legal entities, the UAE doesn't charge direct taxes; however, the rate of VAT is 5%.

    How do I register a company for tax purposes?

    If taxable supplies and imports exceed AED 375,000 per year, a company is required to register for VAT with the Federal Tax Authority.

    Do foreigners have to pay taxes in the UAE?

    At the moment, individuals, including foreigners, don't pay taxes.

    What is the income tax system in the UAE?

    The United Arab Emirates does not impose such a tax.

    Who is the Arab Trust?

    The Islamic Trust, or Waqf as it is more appropriately known, is a Sharia-compliant agreement, which adheres to the laws of the United Arab Emirates. As per these agreements, the founder transfers property to the manager, who undertakes to own and dispose of it in the interests of the beneficiary - whose complete anonymity is guaranteed.

    What's the point of reports if the UAE doesn't require mandatory accounting?

    The company isn't supposed to keep accounting records, but some free economic zones require the company to file an audit report, which requires accounting.

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