Leonard Dumlao & Associates

Proud to be part of Tax Agent Forum 2026! 🇦🇪
3 September 2026

Proud to be part of Tax Agent Forum 2026 at the Ballroom, Grand Hyatt Hotel, Dubai.

A sincere thank you to the Federal Tax Authority (FTA) for organizing this valuable forum and bringing the tax professional community together.

As Tax agency Leonard Dumlao & Associates and for our Tax Agent Mr. Bryan Dumlao, participation in professional forums such as this is an important part of our commitment to continuous learning and professional excellence.

The UAE tax environment continues to evolve, with new regulations, procedures, compliance requirements, and digital developments shaping the way businesses manage their tax obligations. Staying connected with the Federal Tax Authority (FTA) and keeping up with these developments allows tax professionals to remain informed and better prepared to support their clients.

Why is this important?
Being actively involved in the professional tax community helps strengthen our understanding of the UAE tax framework and reinforces the importance of accuracy, compliance, ethical practice, and professional responsibility.

More importantly, it reflects our commitment to ensuring that the services we provide are supported by current knowledge and a proper understanding of the regulatory environment.

For Leonard Dumlao & Associates, professional development is also an important part of building and strengthening our position as UAE Registered Tax Agency.

The participation in industry events demonstrates to our clients, business partners, and the wider business community that we take our professional responsibilities seriously and continuously invest in our knowledge and capabilities.

We believe that a strong Tax Agency is not only about providing tax services—it is about staying informed, maintaining professional standards, understanding regulatory developments, and giving clients the confidence that their tax and accounting matters are handled with care and competence.

Professional Knowledge. Continuous Development. Trusted Service.

LEONARD DUMLAO & ASSOCIATES
UAE Registered Tax Agency | Accounting | Bookkeeping | Advisory | VAT | Corporate Tax
📞 +971 50 506 1908 📧 [email protected]
🌐 www.laafzllc.com

Is having a valid VAT invoice enough to claim Input VAT?

Not necessarily.

The Federal Tax Authority (FTA) Decision No. 13 of 2026 introduces measures, procedures and conditions that taxable persons must follow to verify the validity and integrity of supplies before deducting Input Tax.

Effective 1 October 2026, businesses will need to pay closer attention not only to the tax invoice, but also to the supplier and the underlying transaction.

🔎 What should businesses verify?

Depending on the circumstances, businesses may need to consider:
✔️ Supplier identity and business details
✔️ Trade license and VAT registration information
✔️ Supplier's business address and activities
✔️ Whether the supplier is genuinely capable of providing the goods or services
✔️ Whether the goods or services were actually supplied
✔️ Commercial rationale and pricing of the transaction
✔️ Payment method and supporting payment evidence
✔️ Potential risk indicators associated with the supplier or transaction

⚠️ Watch the thresholds
The Decision introduces specific thresholds that businesses need to monitor, including:
AED 10,000 – Relevant exemption threshold for certain supplies, subject to the conditions under the Decision.
AED 100,000 – Cumulative supplier threshold that can affect the application of the exemption.
AED 375,000 – Threshold requiring enhanced supplier verification where the total value of supplies from a supplier exceeds, or is expected to exceed, this amount over the relevant 12-month period.

📁 Documentation matters
• Performing the verification is only part of the process.
• Businesses should maintain appropriate evidence and documentation demonstrating that the required checks were performed.
• This may include supplier onboarding documents, licences, VAT information, contracts, purchase orders, delivery records, payment evidence, supplier verification records and other relevant supporting documents.

💡 What does this mean for your business?
VAT compliance is becoming increasingly focused on substance, due diligence and documentation.
A tax invoice may support an Input VAT claim, but businesses should also be able to demonstrate that the supplier is genuine, the transaction is legitimate, and reasonable verification procedures were performed.

👉 Don't wait until a VAT audit to discover that your supplier due-diligence process is incomplete.

Start reviewing your supplier onboarding and Input VAT procedures before 1 October 2026.

Need help reviewing your VAT compliance procedures?
Leonard Dumlao & Associates can assist your business with VAT compliance, accounting and tax requirements in the UAE.
📞 050 506 1908
📧 [email protected]
🌐 www.laafzllc.com

Urgent Update for MNE Groups in the UAE: FTA Decision No. 12 of 2026

If your business operates as part of a global group, new rules for the UAE Domestic Minimum Top-Up Tax are now active.
What you need to do:

1. Check Your Status
Determine if your group meets global revenue thresholds.

2. Mark November 30, 2026
This is the key registration cutoff for most early fiscal year-ends.

3. Review Compliance
Ensure proper record-keeping and entity mapping well ahead of deadlines.

Don't navigate complex compliance alone, partner with registered tax experts to secure your filing status.

💼 LEONARD DUMLAO & Associates
Registered Tax Agency in the UAE
📞 Contact us today at +971 50 506 1908 or [email protected]

Link: https://lnkd.in/gcDuEVr4

The Real Cost of DIY Bookkeeping

Many business owners choose to handle their own bookkeeping to save money. While it may seem like a practical decision, the hidden costs of DIY bookkeeping can often outweigh the initial savings.

Bookkeeping is more than recording income and expenses. Accurate financial records form the foundation of sound business decisions, effective cash flow management, and compliance with UAE tax regulations.

Without proper bookkeeping, businesses may face:
• Unreconciled bank accounts and inaccurate financial records
• Missed business expenses and tax deductions
• Errors in VAT and Corporate Tax reporting
• Delays in preparing financial statements
• Increased risk of penalties due to non-compliance
• Limited visibility into the true financial performance of the business

Professional bookkeeping helps ensure your records are accurate, up to date, and ready for reporting requirements. More importantly, it provides valuable financial insights that allow you to make informed decisions and focus on growing your business.

At Leonard Dumlao & Associates, we provide reliable Accounting, Bookkeeping, VAT, Financial Reporting, and Corporate Tax Compliance services tailored to the needs of businesses across the UAE.

Don't let bookkeeping become an expensive mistake. Invest in accurate financial records today and build a stronger business for tomorrow.

📩 Connect with us:
📞 +971 50 506 1908
📧 [email protected]
🌐 www.laafzllc.com
🔗 LinkedIn: https://www.linkedin.com/company/leonarddumlao-associates
📘 Facebook: https://www.facebook.com/leonarddumlao.associatesuae/
📸 Instagram: https://www.instagram.com/leonarddumlao.associatesuae/

🇦🇪 UAE E-Invoicing Update: Is Your Business Ready?

The UAE continues to advance its digital transformation with the rollout of the national E-Invoicing framework. The voluntary pilot phase is now underway, giving businesses an opportunity to prepare before mandatory implementation begins in 2027.

E-Invoicing is more than replacing paper or PDF invoices—it introduces a standardized, secure, and automated way of exchanging invoices through accredited service providers. This initiative aims to improve tax compliance, increase efficiency, and support the UAE's vision for a fully digital economy.

Now is the ideal time for businesses to review their invoicing processes, assess whether their accounting systems are ready, and understand how the upcoming requirements may affect their operations. Preparing early will help ensure a smooth transition and minimize potential compliance risks.

At LEONARD DUMLAO & Associates, we are committed to helping businesses navigate these regulatory changes with confidence. Whether you need assistance with E-Invoicing readiness, Accounting, Bookkeeping, VAT, or Corporate Tax Compliance, our team is here to support you every step of the way.

📩 Connect with us for professional guidance:
📞 050 506 1908
📧 [email protected]
🌐 www.laafzllc.com
🔗 LinkedIn: linkedin.com/company/leonarddumlao-associates
📘 Facebook: facebook.com/leonarddumlao.associatesuae
📸 Instagram: instagram.com/leonarddumlao.associatesuae

🚨 5 Financial Red Flags Every Business Owner Should Never Ignore

Every successful business leaves clues in its financial records—and so do businesses heading toward financial difficulty.

The challenge is that many warning signs go unnoticed until they begin affecting cash flow, profitability, or tax compliance. Regular bookkeeping and financial reporting are not just compliance requirements; they are essential tools for making informed business decisions.

🚩 Here are five financial red flags that every business owner should pay close attention to:

1️⃣ Cash Flow Problems

Generating sales doesn't always mean your business has enough cash to meet its day-to-day obligations. If you're frequently struggling to pay suppliers, salaries, or operating expenses, it's time to review your cash flow management.

2️⃣ Unreconciled Bank Accounts

Bank reconciliations help identify missing transactions, duplicate payments, accounting errors, and even potential fraud. Keeping your accounts reconciled ensures your financial records remain accurate and reliable.

3️⃣ Overdue Customer Payments

An increasing number of overdue receivables can significantly impact your cash flow and limit your ability to operate and grow. Monitoring customer collections is just as important as generating sales.

4️⃣ No Regular Financial Reports

If you're making business decisions without reviewing your Profit & Loss Statement, Balance Sheet, or Cash Flow Report, you're operating without a complete picture of your business's financial health.

5️⃣ Last-Minute Tax Compliance

Rushed bookkeeping often leads to last-minute VAT and Corporate Tax filings, increasing the risk of errors, missed deadlines, and avoidable penalties. Staying organized throughout the year makes compliance smoother and more accurate.

📈 Strong businesses don't wait for problems to appear—they monitor their financial health consistently and take action early.

At LEONARD DUMLAO & Associates, we help businesses across the UAE maintain accurate bookkeeping, prepare reliable financial reports, and stay compliant with VAT and Corporate Tax requirements—giving business owners the confidence to focus on growth.

📩 Need a financial health check for your business? We're here to help.

Connect with us:
📞 +971 50 506 1908
📧 [email protected]
🌐 www.laafzllc.com
🔗 LinkedIn: https://www.linkedin.com/company/leonarddumlao-associates
📘 Facebook: https://www.facebook.com/leonarddumlao.associatesuae/
📸 Instagram: https://www.instagram.com/leonarddumlao.associatesuae/

Do I Need to File a Corporate Tax Return If My Company Made No Revenue?

One of the most common questions we receive from business owners is:
"My company didn't generate any revenue during the year. Do I still need to file a Corporate Tax Return?"

Many business owners believe that if their company did not generate any revenue, there is nothing to report to the Federal Tax Authority (FTA).

Unfortunately, this assumption could lead to costly penalties. Under the UAE Corporate Tax regime, a company's filing obligations do not necessarily disappear simply because it had no sales, no profit, or even no business activity during the year.

If your company remains registered for Corporate Tax, you may still be required to file a Corporate Tax Return, even when:
• Revenue is AED 0�
• Profit is AED 0�
• Operations were temporarily suspended�
• The company is dormant or inactive

This is because tax compliance is not only about paying taxes—it is also about fulfilling your reporting obligations.

Over the past year, we have encountered several business owners who assumed that "no activity" meant "no filing requirement." In reality, failing to submit a required return can expose a business to unnecessary penalties and compliance risks.

Ask Yourself:
✓ Is your company still holding a valid trade license?�
✓ Is your Corporate Tax registration active?�
✓ Have you formally completed the deregistration process, if applicable?�
✓ Are your accounting records up to date?

If the answer to these questions is unclear, it may be time to review your compliance position before the filing deadline arrives.

The Bottom Line

No Revenue does not automatically mean No Corporate Tax Return. Before deciding not to file, make sure you understand your obligations under the UAE Corporate Tax Law. A simple review today could save your business from penalties tomorrow.

📩 Connect with us for guidance:
📞 +971 50 506 1908
📧 [email protected]
🌐 www.laafzllc.com
🔗 LinkedIn: https://www.linkedin.com/company/leonarddumlao-associates
📘 Facebook: https://www.facebook.com/leonarddumlao.associatesuae/
📸 Instagram: https://www.instagram.com/leonarddumlao.associatesuae/

🚨 5 Corporate Tax Mistakes UAE Businesses Are Still Making in 2026 🚨

Many business owners believe Corporate Tax compliance starts when it's time to file a return. In reality, compliance begins much earlier—with registration, proper bookkeeping, and maintaining the right records throughout the year.

Here are five common mistakes we continue to see among UAE businesses:

❌ 1. Missing Corporate Tax Registration Deadlines

Under Article 51 of the UAE Corporate Tax Law, taxable persons are required to register for Corporate Tax within the timelines prescribed by the Federal Tax Authority (FTA). Failure to register on time may result in administrative penalties. Many businesses mistakenly assume that registration can wait until the tax return filing deadline. It cannot.

❌ 2. Incorrect Classification of Expenses

Not every expense recorded in the accounts is automatically deductible for Corporate Tax purposes. Personal expenses, unsupported expenditures, and certain non-business-related costs may need to be excluded when calculating taxable income. Proper classification and supporting documentation are essential to avoid errors in tax reporting.

❌ 3. Poor Documentation and Record Keeping

According to Article 56 of the Corporate Tax Law, businesses are required to maintain records and supporting documents for at least 7 years after the end of the relevant tax period. This includes invoices, contracts, bank records, and accounting schedules that support the information reported in the tax return. Missing documentation can create significant challenges during an FTA review or audit.

❌ 4. Misunderstanding Free Zone Tax Benefits

One of the biggest misconceptions is that all Free Zone companies automatically qualify for a 0% Corporate Tax rate. Under Article 18, a Free Zone entity must meet specific conditions to be treated as a Qualifying Free Zone Person (QFZP) and continue benefiting from the preferential tax treatment. Failing to meet these conditions could result in a different tax outcome than expected.

❌ 5. Not Maintaining Proper Accounting Records

The Corporate Tax Law requires taxable income to be determined based on financial statements prepared in accordance with accepted accounting standards in the UAE. Businesses that maintain incomplete, inaccurate, or outdated accounting records may struggle to prepare accurate tax returns and support their tax positions if questioned by the FTA.

✅ Corporate Tax compliance is not just about filing a return. It requires proper registration, accurate bookkeeping, complete documentation, and ongoing compliance throughout the year.

A proactive review today can help businesses avoid penalties, reduce risks, and stay fully compliant with UAE tax regulations.

📩 If you would like to assess your company's Corporate Tax readiness, our team at LEONARD DUMLAO & Associates is here to help.

Which of these 5 mistakes do you see most often in your industry?

📩 Connect with us:
📞 +971 50 506 1908
📧 [email protected]
🌐 www.laafzllc.com
🔗 LinkedIn: https://www.linkedin.com/company/leonarddumlao-associates
📘 Facebook: https://www.facebook.com/leonarddumlao.associatesuae/
📸 Instagram: https://www.instagram.com/leonarddumlao.associatesuae/

&Associates