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Iraa Global

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Business Advisor & Accountants in UAE Established in 2009, NAM is the name you can trust for complete financial solutions.

From auditing and accounting to company formation, tax consultancy, business valuation, professional advice and even PRO assistance and property management. We are one of the best accounting firms in United Arab Emirates, catering to clients from India, Turkey, Singapore, Russia, United Kingdom and South East Asia. We are well known in the United Arab Emirates as high level professionals for Business Setup in Dubai, business set up in UAE, offshore company formation in UAE and our team of dedicated professionals helps you to set up your new company and will guide you at every step, ensuring to make the process simple and fast.

15/10/2026

AED 5 million asset? The threshold did not change. The test did.

Since 1 October 2026, a capital asset under UAE VAT is a business asset with a cost of AED 5 million or more, excluding VAT. Before, it was a single item of expenditure.

Why it matters: if the asset’s use changes during its 5 or 10 year adjustment period, the input VAT you recovered may need to be adjusted.

Check your fixed asset register, especially for major assets bought in stages.

Planning a major purchase? Speak to our VAT team before you sign.

IRAA Global

14/10/2026

Claimed Small Business Relief this year? It is not a one-time decision.

Small Business Relief has been extended. It now applies to tax periods ending on or before 31 December 2029.

But it is tested every year. You elect it for each tax period, and your revenue must be AED 3 million or less in that period and in every period before it. Cross the threshold once, and the relief is no longer available, even if revenue falls again.

It is also not available to Qualifying Free Zone Persons or members of multinational groups. And when you elect it, other reliefs and deductions do not apply.

Check your eligibility with us before you file.

Sources: Ministerial Decision No. 131 of 2026; Ministerial Decision No. 73 of 2023.

IRAA Global

13/10/2026

Excise Tax reminder: 15 October.

If your business is registered for Excise Tax, the return and payment for the September tax period are due by 15 October 2026.

Excise Tax returns are filed monthly, and both the return and the payment are due by the 15th day after the end of each tax period.

This applies to businesses that import, produce or stockpile excise goods, including to***co and to***co products, e-cigarettes and va**ng liquids, carbonated drinks, energy drinks and sweetened drinks.

Need help preparing or filing your return? Send us a message.

Source: Federal Tax Authority, Taxable Person Guide for Excise Tax.

IRAA Global

09/10/2026

Your bank asks for one. Your board needs the other.

A statutory audit looks back: an independent auditor gives an opinion on your annual financial statements.

An internal audit looks inward: it checks your controls, processes and risks through the year.

In the UAE, a statutory audit is required for LLCs and joint stock companies, most free zone companies, and, for Corporate Tax, businesses with revenue above AED 50 million, Qualifying Free Zone Persons and tax groups.

Not sure which one you need? Ask our audit team.

Sources: Federal Decree-Law No. 32 of 2021; Ministerial Decision No. 84 of 2025.

IRAA Global

07/10/2026

Paying suppliers in cash? Your input VAT claim could be at risk.

Cabinet Decision No. 149 of 2026 added a new clause to the VAT Executive Regulation, in force since 1 October 2026. Under Article 54(3), input tax may not be recoverable on a supply above a set amount where the consideration is paid, or intended to be paid, in cash.

Two points are worth noting.

The limit is tied to the value of the supply, not the VAT on it.

The amount itself will be set by the Minister of Finance. It has not been announced yet.

That gap is not a reason to wait. Businesses that pay regular suppliers in cash should start moving those payments to bank transfer now, and keep proof of payment alongside every tax invoice. Changing payment habits takes longer than updating a policy.

If you would like your supplier payment process reviewed before the amount is announced, send us a message.

Source: Cabinet Decision No. 149 of 2026, Article 54(3).

IRAA Global

05/10/2026

Two VAT changes took effect on 1 October 2026, and both affect your input tax.

FTA Decision No. 13 of 2026: verify the supplier and the transaction before you deduct input VAT, and keep a record of every check.

Cabinet Decision No. 149 of 2026: input VAT can be restricted on cash payments above a threshold the Minister will set, and the Capital Asset Scheme now applies to assets costing AED 5 million or more.

An invoice is still needed. It is no longer enough on its own.

Swipe for the details. Message us to review your supplier file.

IRAA Global

01/10/2026

Missed 30 September? Two Corporate Tax penalties are now running: late filing at AED 500 a month, and late payment at 14 percent a year, charged monthly. Filing stops one. Only payment stops the other. File and pay together, this week.

Source: Cabinet Decision No. 75 of 2023.

Speak to our Corporate Tax team.

25/09/2026

Paid the AED 10,000 late registration penalty? You may get it back.

The FTA waives the Corporate Tax late registration penalty if you file your first tax return within 7 months from the end of your first tax period. Exempt persons qualify by filing their annual declaration within 7 months from the end of their first financial year.

The window runs from the end of your own first period, not a fixed date. Two businesses with the same year end can have different deadlines.

Two things most people miss:

1. Already paid the penalty? File inside the window and the amount is credited back to your EmaraTax account, to be used against future liabilities.

2. Never registered at all? You still qualify. Register, file within the window, and any penalty imposed is waived.

Everything is done through EmaraTax.

Four working days left.
DM us and we will check where you stand.

IRAA Global

24/09/2026

Five working days to 30 September.

No profit does not mean no return. Small Business Relief is not automatic, you elect it every period. Filing is not paying, and the late payment penalty runs at 14% a year from the day after it was due.

Here is the part most people miss. Correct a return through a voluntary disclosure before the FTA notifies you of an audit and it costs 1% of the tax difference per month. After that notice, it is 15%, with the 1% still running.

Five working days is enough to check. It is not enough to rebuild.
Share this with whoever is filing.

For more info please contact us
[email protected]

23/09/2026

From 1 October 2026, a valid tax invoice alone won’t secure your input VAT claim.

Under FTA Decision No. 13 of 2026, you must verify both the supplier and the supply before claiming input VAT.

Supplier: identity, premises, VAT registration, risk indicators

Supply: genuine purpose, market price, licensed activity, electronic payment

Stricter checks apply above AED 375,000 per supplier. A written policy and yearly re-verification are also required.

Get your supplier file reviewed by IRAA Global before 1 October.

Address

Sharaf DG Metro, Bur Dubai
Dubai

Opening Hours

Monday	09:00 - 18:00
Tuesday	09:00 - 18:00
Wednesday	09:00 - 18:00
Thursday	09:00 - 18:00
Friday	09:00 - 18:00
Saturday	09:00 - 18:00

Website

https://namaccountants.com/

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