Afaq Accounting is Registered Tax Agency in UAE and approved by the Federal Tax Authority (FTA), and as Tax Agent we will assist you to comply with your tax obligations in accordance with the Tax Agent's duties as stated in the tax legislation.
without prejudice to any obligations in the Law, we will maintain the confidentiality of any information obtained in the course of performing our duties.
Regarding to accountancy we can understand your organization' needs and its requirements and we will provide customized solutions with expert advice within specified time and budget. We also follow up your business to see how are you doing to implement the business plan, we also keep monitoring the progress and advise accordingly and providing financial statement Auditing and Feasibility Study, Company Liquidation by experts and chartered accountants .
We will provide you with best Accredited Accounting Software to organize your business to be compiled with all requirement of Federal tax authority and generate value added tax report to the utilization/refund of VAT and in accordance with federal tax authorities federal tax authority requirements, VAT registration and return filing, Any appeals or assessments from the federal tax authority, and apply to the FTA to reduce any penalties if applicable.
In addition to the importance for the establishment and individual to conduct accounting and bookkeeping procedures, which plays an important role in the success of the business and to be informed all-time of the financial position of your business, and the amount of your obligations, and of dues owed, profits and losses, cash flows, equity, it is compulsory under the new laws and regulations in the United Arab Emirates for the companies to keep their business operations and accounting records for a minimum period of five years, according to the decision of the Council of Ministers of the United Arab Emirates No. 40 of 2017, there is penalty for Non-obligated establishments amounting of 10,000 dirhams when the person doing business does not save the required records and other information specified in the Tax procedure Law and tax law, and a fine of 20,000 dirhams is imposed when the person doing business does not provide the data Records and documents relating to the the authority upon request.
If you do not wish to employ a full-time accountant in your company, we will serve you and provide you with accounting and bookkeeping services, so we perform the same accounting functions as we work as an external accountant for your business without commitment to a monthly salary or employment contract, In the same time your data will be safe and accessible all time and we can provide you with your invoices, quotations, statements, etc. or any information that you need it during normal working hours.