Accounting
Accounting Services in the Northern Emirates
Bestax provides accounting services in Umm Al Quwain, Ras Al Khaimah and Fujairah for startups, SMEs, free zone companies and established groups. One team handles the complete accounting cycle, from the first invoice to the year-end close, and every file is prepared by your dedicated accountant and reviewed by a chartered accountant before it reaches you.
Why it matters
Why Accounting Services in the Northern Emirates matters
For years many companies in the Northern Emirates treated accounting as a renewal formality. Three federal systems have changed that, and all three pull their numbers from the same place: your records.
Corporate tax is in its second filing cycle
Your return must be prepared from financial statements that follow IFRS, and a wrong number in the books becomes a wrong number in the return. The FTA can then look back through seven years of records to check it.
VAT penalties became stricter
Cabinet Decision No. 129 of 2025 took effect on 14 April 2026. Late returns, late payments and incorrect filings each carry their own fines, and every one traces back to whether your records were complete when the return was built.
E-invoicing closes the loop
From 2027 your invoice data reaches the FTA in structured digital format in near real time. Errors that once sat quietly in a spreadsheet become visible to the tax authority automatically.
Enforcement is rising to match
The FTA completed over 103,000 inspection visits in the first half of 2026 alone and issued around AED 174 million in liabilities and penalties. Businesses in Ras Al Khaimah, Umm Al Quwain and Fujairah are part of that campaign, not outside it.
What we provide
What the engagement covers
The full accounting cycle, plus the corporate tax and VAT work the books feed. Federal tax law is the same in all seven emirates, but the authorities you deal with are local — RAKEZ, RAK ICC, the RAK Department of Economic Development, the UAQ Free Trade Zone, Fujairah Free Zone and Creative City each expect something different.
Bookkeeping and transaction recording
Every sale, purchase, expense and payment recorded in a chart of accounts built for your licence activity. Correct classification from day one is what makes the VAT return and corporate tax computation reliable later.
Financial statements under IFRS
Monthly and annual statements under IFRS, or IFRS for SMEs below AED 50 million revenue. Businesses up to AED 3 million may use the cash basis, and we tell you plainly which option fits.
Reconciliation, receivables and payables
Books matched to bank and card statements every month, with ageing reports showing who to chase and when to pay. Missing deposits, duplicate payments and unrecorded charges get caught within weeks instead of years.
Payroll, backlog and software
Salaries, allowances, gratuity accruals and end-of-service liabilities recorded monthly, with WPS processing where needed. Records months or years behind are rebuilt from bank statements, invoices and contracts, and we set up and migrate Zoho Books, QuickBooks, Xero or Tally.
Corporate tax, through EmaraTax
Registration — mandatory for every business including free zone and offshore entities, with a fixed AED 10,000 late penalty — return filing within nine months of year end, Small Business Relief checks each period, and Qualifying Free Zone Person support where the 0% rate is claimed.
VAT and e-invoicing readiness
Registration once taxable supplies pass AED 375,000 in twelve months (voluntary at AED 187,500), returns within 28 days of each period end, and preparation for e-invoicing before your own go-live date.
Free zone audit coordination
RAKEZ requires audited statements within six months of year end through an approved auditor; UAQ FTZ can ask at licence renewal; Fujairah Free Zone requires them annually. We keep audit-ready books all year and coordinate with the zone's approved auditors.
How it works
The process, step by step
Free consultation
A 30-minute call or meeting to understand your licence, your software and the state of your records. No obligation.
Records review and fixed fee proposal
We look at your current books, bank statements and filings, then send a written summary of gaps and risks together with one fixed quote. Work starts only after you approve it.
Onboarding and monthly rhythm
You get a dedicated accounting consultant in whichever emirate you operate from, who closes your books every month and tracks your deadlines in a compliance calendar we maintain for you.
Outcomes
What you get
A profit and loss statement, balance sheet and trial balance every month, usually within 10 days of month end
Bank and credit card reconciliations for every account
Receivable and payable ageing reports, so you know who owes you and what you owe
A VAT position summary showing the output and input VAT building up for your next return
A short plain-language note flagging anything unusual, from a duplicate supplier payment to a customer who has stopped paying
One written fixed fee, agreed before work starts, that changes only if your transaction volume does
Who it is for
Built for businesses like yours
Manufacturing and industrial producers in RAK, with inventory counts and customs documents
Tourism and hospitality businesses running on daily POS takings and seasonal swings
Shipping, bunkering and trading businesses around Fujairah port
Startups, e-commerce sellers and service businesses in Umm Al Quwain
Construction and real estate, where records must be kept for 15 years
Free zone companies in RAKEZ, RAK ICC, UAQ FTZ, Fujairah Free Zone and Creative City
Questions
Accounting Services in the Northern Emirates: common questions
Packages start from AED 1,500 per month, and the exact fee depends on your transaction volume, number of entities and the state of your records. You receive one fixed written quote after a free consultation, so you know the full cost before committing.
Yes. RAKEZ requires audited financial statements filed within six months of your financial year end through a RAKEZ approved auditor, and missing the deadline risks fines and problems at licence renewal. Separately, if your company claims the 0% corporate tax rate as a qualifying free zone person, audited financials are mandatory under federal law regardless of what the zone asks for.
The zone can ask for audited financial statements at licence renewal, so you should be ready rather than assume you are exempt. And if your UAQ FTZ company claims qualifying free zone person status for the 0% rate, audited financial statements are mandatory under Ministerial Decision No. 84 of 2025.
Yes. Every company in the UAE must register for corporate tax, including free zone entities paying 0% and RAK ICC offshore companies with no UAE income. Late registration carries a fixed AED 10,000 penalty.
Nine months after your financial year end. If your year ended on 31 December 2025, your return and payment are due by 30 September 2026. Late filing starts at AED 500 per month and unpaid tax accrues 14% per year.
Yes, and for longer than before. In August 2026 the Ministry of Finance extended the relief to tax periods ending on or before 31 December 2029 for businesses with revenue of AED 3 million or below in the relevant and all previous periods. You must elect it in a simplified return filed on time.
If your revenue is AED 50 million or more, you must appoint an accredited service provider by 30 October 2026 and issue e-invoices from 1 January 2027. All other VAT-relevant businesses follow from 1 July 2027. The penalties are AED 5,000 per month for having no provider and AED 100 per invoice not issued electronically.
Usually yes, and this is one of our most requested jobs in the Northern Emirates. We rebuild your records from bank statements, invoices and contracts, reconcile everything and prepare the filing from a clean trial balance. The earlier you send us your bank statements, the more options you have.
Yes. Every FTA process runs online through EmaraTax, so registration, returns and payments never require a trip anywhere. We work through shared drives and monthly video calls, visit Ras Al Khaimah, Umm Al Quwain and Fujairah on schedule, and arrange document collection from your office.
Not yet, but you should watch the threshold closely, because registration becomes mandatory once taxable supplies pass AED 375,000 in any rolling 12-month period. Voluntary registration opens at AED 187,500 and can make sense if you want to recover input VAT.
Talk to a senior about accounting services in the northern emirates
Free consultation, no obligation, and a reply in under 30 minutes during working hours.