Accounting and Financial Reports
Accounting and Bookkeeping Services in Dubai, UAE
At Black Stone Tax Consultancy, we specialize in accounting and bookkeeping services for SMEs across Dubai and the UAE. Our qualified team ensures accurate financial records, IFRS-compliant reports, and cost-effective solutions using the latest accounting software. Whether you need outsourced accounting, part-time support, or help with VAT-compliant reporting, we tailor our services to fit your business needs.
UAE and Saudi Arabia were the first to implement VAT at 5% on January 1, 2018, followed by Bahrain in 2019. Oman joined in 2021, and Saudi Arabia later increased its VAT rate to 15% in July 2020 as a fiscal response to the COVID-19 pandemic. Although unified in principle, each GCC country manages certain VAT elements independently.
Our Core Accounting Services:
Monthly bookkeeping (sales, expenses, assets, AR/AP)
Financial reporting (balance sheet, P&L, trial balance)
Bank reconciliations and petty cash reports
Payroll & accounting software setup
VAT accounting and compliance support
The Federal Tax Authority (FTA) in the UAE, established under Decree Law No. 13 of 2016, governs VAT administration, registration, collection, and enforcement. Businesses with taxable supplies exceeding AED 375,000 annually must register for VAT. Those with supplies above AED 187,500 may register voluntarily. Non-resident businesses making taxable supplies in the UAE must register regardless of threshold.
