Riyablogs

  In today’s fast-changing business world, maintaining accurate and transparent financial records is essential for business success. At Proficient Accountants , we go beyond basic number crunching — we organize, verify, and maintain financial data that helps businesses across the UAE make informed decisions, uncover growth opportunities, and ensure full compliance with UAE financial regulations. Difference Between Bookkeeping and Accounting? While bookkeeping and accounting are closely related, they serve different but equally important roles in managing a company’s finances. Bookkeeping involves recording and organizing daily financial transactions such as sales, purchases, and payments. The goal is to maintain clear, accurate, and up-to-date financial records that reflect a company’s day-to-day activities. Accounting , on the other hand, focuses on analyzing and interpreting financial data. It includes preparing financial statements, conducting audits, managing budgets, and of...

What Is Corporate Tax and Why Is Registration Crucial in the UAE?   Corporate Tax (CT) in the UAE applies to businesses earning taxable income above AED 375,000 , at a 9% tax rate . All companies — including Free Zone entities — must register for Corporate Tax and obtain a Tax Registration Number (TRN) , even if they qualify for exemptions. Proper Corporate Tax registration is essential to: ✅ Ensure Legal Compliance: Avoid costly penalties by adhering to UAE Corporate Tax laws. ✅ Mitigate Risks: Identify and address tax risks early through structured compliance. ✅ Align with Global Standards: Maintain credibility by following international tax practices. Guide to Corporate Tax Registration in the UAE The UAE Ministry of Finance and Federal Tax Authority (FTA) have streamlined Corporate Tax registration through the EmaraTax portal — a secure online system that enables businesses to manage all tax-related activities, including registration, filing, and payments. Steps to...