Accounting and Bookkeeping Services in Dubai

Published: June 2025 | By: Saadiyat Accounting – Accounting and VAT Service Expert,Dubai

The UAE Ministry of Economy (MoE) has sent out a new official circular telling all Designated Non-Financial Businesses and Professions (DNFBPs) to update their AML/CFT procedures, internal controls, and reporting systems. This includes accounting firms, real estate agents, auditors, corporate service providers, precious metals dealers, and some legal professionals. This order is in line with the most recent FATF mutual evaluation of the UAE and is part of continuous efforts to improve compliance in high-risk industries. 

What Is Changing

According to Circular No. MOEC/AML/004/2024 (dated October 29, 2024), DNFBPs must now do the following:

• Based on the new National Risk Assessment (NRA), you should look at and manage ML/TF threats again.
• Change the AML/CFT policies and procedures, such as preserving records, monitoring transactions, and doing customer due diligence (CDD).
• Make sure that everything works with the GoAML reporting platform.
• Teach employees and compliance officers about the new rules.
• Send the Ministry updated risk-assessment reports on a regular basis. 

Why This Is Important
The MoE's action is appropriate, coming after the UAE left the FATF grey list in February 2024. It shows that the country is moving from enforcement to long-term compliance and capacity creation. 

Real estate, precious metals, and accountancy are some of the DNFBP sectors that are considered to be medium to high risk for money laundering. This means that AML controls need to be tighter. The MoE's past punishments of DNFBPs showed how important this full update was. 

What this means for businesses
DNFBPs should do the following right away:

• You should be able to go to the official circular through the MoE's media center or legal portal.
• Do a new risk assessment that takes into account the most recent NRA results.
• Change the way AML systems and rules work, and include advice for accounting services in Dubai and other places.
• Make sure that staff training programs are available.
• Sign up for GoAML (or confirm your registration) and set up regular ways to report risks.

The Big Picture
The UAE is still known as a worldwide business hub with strong regulatory requirements by making its AML frameworks stronger. The change helps not only with following the rules, but also with retaining the integrity and competitiveness of industries that depend on professional compliance, like accounting firms, bookkeeping services in the UAE, and corporate consultants.

You may get the official materials and templates you require (such risk assessment formats, circular texts, and GoAML instructions) from MoE's official channel. Look in the "Media Centre" or "Publications" sections.

*This blog reflects updates as of June 2025. For tailored advice, consult with Saadiyat Accounting.*

Published: June 2025 | Author: Saadiyat Accounting, Dubai's Accounting and Tax Service Experts

What Is the New Corporate Tax Penalty Waiver About?

The Federal Tax Authority (FTA) permits the sidestepping or recovery of a penalty of AED 10,000 when a business corporate tax return or declaration is submitted within seven months of the first tax period and meets the business meeting deadlines.

That is two months earlier than the usual 9-month deadline.

This rule applies to all companies, even those which do not pay taxation but are mandated to file and register an annual declaration.

Who Is Eligible For the Waiver?

You’re eligible if:

- You have not registered yet, but you are willing to submit your return within 7 months.
- You have incurred the penalty but have not paid yet.
- You have made payment and want to request refund via the FTA account for submitted payment.

The UAE firms whether nascent or well established stand to lose out under such timelines.

🗓️ Key Dates for Corporate Tax Compliance in 2025

1. For businesses with tax year ending December 31, 2024:

• 7-Month Filing Deadline: July 31, 2025

• 9-Month Standard Deadline: September 30, 2025

2. For businesses with tax year ending March 31, 2025:

• 7-Month Filing Deadline: October 31, 2025

• 9-Month Standard Deadline: December 31, 2025

⚠️ Importance
Failing to meet the seven month deadline incurs the penalty again of AED ten thousand for each license with consolidation possible if you have branches or legal entities.

Our Services

At Saadiyat Accounting , we help businesses in Dubai and the UAE with: 

• Accounting and bookkeeping services

• Tax Services

• Financial and management reporting

• Audit support and internal control reviews

• Business setup and consultancy services

• Economic Substance Regulation (ESR) compliance

• Transfer Pricing advisory

• FTA portal registration and technical support

• Tax refund applications for overpaid VAT or penalties

From emerging businesses to mainland LLCs and free zone companies, we ensure you remain compliant while strategically managing taxes. 

Worry about the 2025 tax deadlines? Reach out to our specialist team now.

Visit our Services Page to learn more about how we assist with tax compliance, VAT, accounting, and business setup in the UAE.

Contact us now to meet the 2025 deadline and avoid unnecessary penalties.

Published: June 2025 | Author: Saadiyat Accounting, Dubai's Accounting and Tax Service Experts

🗓️ Example: If your fiscal year ended December 31, 2024, your new deadline is July 31, 2025.
This applies to all businesses, even those with 0% tax liability.

Why it matters: If you missed the deadline, this waiver helps you avoid or claim back significant penalties, crucial for startups managing tight budgets

2. Key Corporate Tax Deadlines for 2025

Fiscal Year Ending: December 31, 2024
➤ 7-Month Filing Deadline: July 31, 2025
➤ 9-Month Final Deadline: September 30, 2025

Fiscal Year Ending: March 31, 2025
➤ 7-Month Filing Deadline: October 31, 2025
➤ 9-Month Final Deadline: December 31, 2025

3. Why This Update Matters to You

➤ Cash flow relief: Avoiding a lump-sum fine can free up essential funds.
➤ Compliance confidence: Demonstrates proactive reporting to investors or regulators.
➤ Startup-friendly: Especially helpful for new companies facing first-time tax obligations.

With tighter regulatory focus, this is the moment to align your financial and tax processes.

4. How Saadiyat Accounting Can Support You

At Saadiyat Accounting, we partner with Dubai Business firms to simplify their tax journey:
• Corporate Tax registration

Don’t wait until the penalty deadline looms. Contact us now for a free consultation:
➤ Confirm your tax deadlines
➤ Register and file on time
➤ Prevent or recover penalties

*This blog reflects updates as of June 2025. For tailored advice, consult with Saadiyat Accounting.*