DDA Approved Auditors Xact Auditing is one of the DDA approved auditors and offering best and reliable DDA audit report services. Deadline is June 30, 2024. It is very important that the financial statements of DDA Companies are properly managed and this can be achieved with the help of professional DDA Approved auditors. Xact Auditing is one of the top audit firms in UAE. A DDA Audit follows the same procedures as every other audit services. Approved Auditors in DDA ensure your company is compliant with the latest laws and regulations, as well as working under the IFRS and ISAS Framew ..read more

Audit Report for IFZA Financial Audit Report for IFZA are mandatory to submit to IFZA by all the companies having a license from IFZA. Xact Auditing is approved IFZA auditors in Dubai. All the companies in IFZA have to renew their trade licenses after one year and one of the most important concerns pop up about the financial audit report is whether it is mandatory to submit an annual financial audit report to IFZA for the license renewal? The answer is YES, all the companies in IFZA must submit Audited Financial Statements (AFS) to IFZA in order to renew their license. It’s crucial for comp ..read more

Last Date for Corporate Tax Registration in UAE Corporate tax registration deadline announced in UAE by FTA. Last date of corporate tax registration depends on the license issue date. All the businesses in UAE must register for corporate tax in UAE.  Deadline for Corporate Tax Registration Deadline for License Issuance irrespective of year of issuance Deadline for Corporate Tax Registration 1 January to 31 January 31 May 2024 1 February to 28/29 February 31 May 2024 1 March to 31 March 30 June 2024 1 April to 30 April  30 June 2024 1 May to 31 May 31 July 2024 1 Jun ..read more

Liquidation Audit Report for Meydan Free Zone Liquidation audit report for Meydan Free Zone is mandatory to submit by all the companies who want to close their license in Meydan. Xact Auditing is offering best and fast liquidation report services for Meydan free zone companies in UAE. Xact is one of the approved audit firms by Medyan Free Zone.  What is Liquidation Report? A company liquidation report is a mandatory requirement for a company’s business license cancellation obtained from Meydan Free Zone. This service offers assistance to companies with minimum or no activities to gener ..read more

Backlog Accounting Services Xact Accounting offers prompt backlog accounting services with the accounting firm consists of top accountants to manage your backlogs. Backlog Accounting operations have become a substantial issue for commercial organizations and have to be avoided. It can be a silent killer.  Small businesses and Startup companies do not keep proper accounting records and therefore lose control over the financial figures, leading to a huge loss. In such circumstances, you can take support from a professional chartered accountant. Xact an accounting firm in Dubai, UAE offer ..read more

Corporate Tax Assessment Services in UAE Our Corporate Tax Assessment services in UAE will help businesses to make informed decisions on corporate tax planning and ensure tax compliance with UAE laws. Businesses in UAE are preparing themselves for the execution of corporate tax. The Corporate tax  assessment involves a methodical and organized approach to examining the effects of corporate tax in UAE on businesses. This process allows for the identification of opportunities and risks to implement essential changes within and outside the individual business unit or the entire group.&nbs ..read more

Liquidation Audit Report for Meydan Free Zone Liquidation audit report for Meydan Free Zone is mandatory to submit by all the companies who want to close their license in Meydan. Xact Auditing is offering liquidation report services for Meydan free zone companies in UAE. Xact is approved audit firm by Medyan Free Zone. Business owners in UAE need to comply with all the rules and regulation set out by the Meydan free zone authority to wind up their company without any hassle. Documents Required for Liquidation Audit  Following documents are required in order to prepare liquidation audit ..read more

Small Business Relief under Corporate Tax Small Business Relief under Corporate Tax in UAE is provided to small Businesses to ease their implementation of the Corporate Tax regime. Small Business Relief (SBR) reduces the compliance obligations faced by small businesses in the early stages of the Corporate Tax in UAE, primarily by alleviating the burden of having to calculate and pay Corporate Tax. Who is eligible for Small Business Relief (SBR) in UAE? Any UAE resident taxable person with revenues below the Dh3 million threshold and meeting other conditions can claim the Small Business ..read more

Corporate Tax Deregistration The process of corporate tax deregistration in UAE allows taxable persons to deregister from their corporate tax registration with the Federal Tax Authority. UAE corporate tax deregistration can only be carried out under specific circumstances. It is important to understand the situations and timeline in order to proceed further with the deregistration process. When to apply for the Corporate Tax Deregistration? A taxpayer is eligible or is required to apply for corporate tax deregistration from FTA based on the following criteria: Cessation of Business (Closing ..read more

FTA has announced corporate tax fines and penalties in UAE. Corporate tax fines will be imposed who do not comply with corporate tax law from August 1. Businesses in the UAE must adhere to the corporate tax laws to avoid corporate tax fines and penalties in UAE. All the companies in UAE including mainland and free zone companies must apply for the corporate tax registration and make timely payments in order to avoid UAE corporate tax fines.  Corporate Tax Penalties 1. Late Corporate Tax Registration fine. AED 10,000 2. Late Corporate Tax Deregistration fine. Late submission incurs ..read more